July 14 (Reuters) - Veteran metals trader Nishchay Chadha has set up ACE Recycling, a company to invest in recycling firms in emerging markets with an initial focus on biomedical waste disposal amid the COVID-19 outbreak and trading and investment in lead battery recycling.
Chadha, who is the chief executive of the new venture based in Singapore, has previously worked at Viant Commodities, Kyen Resources, Trafigura and Hindustan Zinc Limited.
“We are seeing a lot of interest in our environmentally friendly biomedical waste treatment systems with improper waste medical handling becoming a major issue due to Covid globally,” Chadha said, adding “Covid is expected to support our business due to increased awareness about solving real (environment social and governance) issues.”
ACE Recycling will provide end-to-end supply chain management including, sourcing, financing, distribution, risk management and will also look for equity participation in strategic recycling projects both brownfield and greenfield, he said.
From 2020 the company will focus on lead acid batteries and biomedical waste, by 2022-2023 it will focus on non-ferrous scrap and electronic waste with a long-term view of getting into electric vehicle battery recycling and plastics wastes.
He said Siddharth Roy who was a zinc and lead trader at Viant Commodities and Kyen Resources and who worked previously at Hindustan Zinc Limited had also joined the company as business director. (Reporting by Shivani Singh; Editing by Christian Schmollinger)
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