Ace Green Recycling, Inc. and Athena Technology Acquisition Corp. II Announce $32 Million PIPE Investment

HOUSTON, April 23, 2026/ PRNewswire/– Ace Green Recycling, Inc. (” Ace” or the “Business”), a leading company of sustainable battery recycling innovation options, and Athena Innovation Acquisition Corp. II( “ATEK II” or “Athena”), an openly traded unique function acquisition business, today revealed that they have actually participated in securities purchase arrangements with particular financiers for an aggregate $32 million personal financial investment in public equity (” PIPELINE”) funding to support their previously-announced proposed service mix (the “Proposed Company Mix”), with the typical stock of the combined business anticipated to be noted on the Nasdaq Stock Exchange under the ticker “AGXI” following the consummation of the Proposed Company Mix.

The pipeline funding consists of involvement from sector-focused institutional financiers, and is anticipated to support Ace’s separated recycling platform for lithium (nickel-manganese-cobalt & & lithium iron phosphate) and lead batteries and its function in allowing domestic supply chains for crucial battery products supporting a circular economy for batteries. The funding is a crucial turning point towards the conclusion of the Proposed Company Mix and supports the Business’s method to scale its U.S. footprint, international supply chain management platform, and advertise its next-generation battery recycling innovation.

” This financial investment accelerates our objective to redefine battery recycling at a worldwide scale,” stated Ace CEO Nishchay Chadha. “At Ace, we are releasing GREENLEAD ® and LithiumFirst ™ as a brand-new requirement– completely energized, Scope 1 emissions-free options developed to change tradition procedures and unlock a cleaner supply chain for crucial products. Our company believe that the future of electrification depends upon how effectively and sustainably we recuperate these resources, and this turning point brings us meaningfully better to that future.”

Concurrent with and contingent upon the closing of the Proposed Company Mix, Ace anticipates to get around $32 million in gross profits from the pipeline funding before deal costs. The Business anticipates to utilize these profits mainly to money capital investment associated with the advancement of its Texas recycling center along with for basic business functions, consisting of supporting the growth of operations and to money the purchase of other business, as explained in the registration declaration on Type S-4 most just recently submitted with the Securities and Exchange Commission by Athena and Ace on March 24, 2026.

Our company believe that financier involvement in this pipeline shows self-confidence in Athena’s capability to combine extraordinary skill and partner with premium business through complicated deals and the general public market procedure. We likewise think that Ace is well placed to support a more resistant domestic supply chain for crucial battery products, and this marks a crucial action towards closing the Proposed Company Mix,” stated Isabelle Freidheim, Chairman and Ceo of Athena

Ace Green Recycling, Inc., included in Delaware, is an ingenious battery recycling innovation platform offering sustainable end-of-life options. It has actually released modular, Scope 1 carbon emissions-free recycling centers for lithium (nickel-manganese-cobalt & & lithium iron phosphate) and lead batteries utilized in different markets consisting of electronic devices, automobile and energy storage. Ace was established by Nishchay Chadha, Ceo and a veteran in recycling, mining and international supply chain markets, and Dr. Vipin Tyagi, Chief Innovation Officer, with substantial experience in battery products recycling innovations. For additional information, please check out www.acegreenrecycling.com.

Athena Innovation Acquisition Corp. II is a blank check business formed for the function of effecting a merger, capital stock exchange, possession acquisition, stock purchase, reorganization or comparable service mix. Athena becomes part of the wider Athena platform established by Isabelle Freidheim and supported by a senior management group with deep experience throughout public deals, personal M&A, development investing and innovation management. The wider Athena platform brings separated deal experience, financier positioning and partnership-oriented execution to business.

This release consists of declarations concerning Athena, Ace, the Proposed Company Mix and other matters that are positive declarations within the significance of Area 27A of the Securities Act of 1933, as changed and Area 21E of the Securities Exchange Act of 1934, as changed. In many cases, positive declarations can be recognized by words such as “prepare for,” “approximate,” “think,” “strategy,” “price quote,” “anticipate,” “task,” “could,” “should,” “method,” “will,” “plan,” “might” and other comparable expressions or the unfavorable of such words or expressions. Declarations in this report worrying (i) Athena’s or Ace’s anticipated future monetary position, service method, production capability, competitive positions, development chances, strategies and goals of management and (ii) the anticipated advantages of the Proposed Company Mix, together with other declarations that are not historic realities, are positive declarations that are quotes showing management’s finest judgment based upon presently offered info. Such positive declarations are naturally unsure, and investors and other possible financiers need to acknowledge that real outcomes might vary materially from expectations as an outcome of a range of aspects, consisting of, without constraint, those talked about listed below. Such positive declarations are based upon management’s existing expectations and consist of understood and unidentified threats, unpredictabilities and other aspects, a lot of which Athena and Ace are not able to anticipate or manage, that might trigger real outcomes, efficiency or strategies to vary materially from any future outcomes, efficiency or strategies revealed or indicated by such positive declarations. These declarations include threats and unpredictabilities that might trigger real outcomes to vary materially from those prepared for in these declarations as an outcome of a variety of aspects, consisting of, however not restricted to:

• Ace has a restricted operating history at scale and is establishing a flagship and brand-new center in the United States; scaling up its operations and growth in the U.S. might bring unpredictabilities and posture liquidity threats to Ace;
• Ace might not have the ability to protect appropriate capital to perform its service strategy;
• If Ace is not able to conquer the labor force and engineering obstacles developing from scaling up production from its existing capabilities, it might not prosper in performing its development and growth strategies;
• Effective or prompt execution of Ace’s prepared U.S. center might be postponed due to licensing or regulative problems;
• A big part of Ace’s earnings is originated from a reasonably little number of significant consumers, and its service, monetary condition, and outcomes of operations might be materially and negatively impacted if its crucial consumers stop working to satisfy their legal commitments;
• Rates for retrieved products undergo international market variations and rate instability might adversely affect Ace’s monetary efficiency;
• Ace counts on third-party suppliers for crucial equipments and failure to obtain and keep them might negatively interrupt its operations;
• A decrease in green energy adoption might prevent future recycling chances and might lead to reduced need for Ace’s items;
• Ace’s exclusive knowledge might be matched by rivals, which might wear down the technological edge it has actually developed;
• Undesirable financial or geopolitical conditions might constrain Ace’s growth, prevent its additional development and otherwise have a product unfavorable result its service, outcomes of operations, potential customers and monetary condition;
• Athena and Ace might not acquire the requisite investor approvals for the Proposed Company Mix;
• Nasdaq might not note the typical stock of the making it through business following the Proposed Company Mix, which might restrict financiers’ capability to result deals following the Proposed Company Mix;
• An occasion, modification or other situation might lead to the termination of the Proposed Company Mix;
• A condition to the closing of the Proposed Company Mix might not be pleased;
• There might be hold-ups in finishing the Proposed Company Mix;
• Any statement or news protection associating with the Proposed Company Mix might have unfavorable results on the marketplace rate of Athena typical stock or Ace typical stock;
• The threat of lawsuits associated to the merger; and
• Other threats and unpredictabilities recognized in the “Threat Aspects,” “Management’s Conversation and Analysis of Financial Condition and Outcomes of Operations” and “Company” areas of Athena’s newest Yearly Report on Type 10-K, and other threats as recognized from time to time in its SEC reports.

All of the positive declarations Athena and Ace make in or in connection with this report are certified by the info consisted of or included by recommendation in a registration declaration submitted by Athena and Ace on Type S-4, that consists of a proxy declaration and a prospectus, to sign up the shares of Athena stock that will be released to Ace’s investors (the “Registration Declaration”). For extra info, see the areas entitled “Threat Aspects” and “Where You Can Discover More Info” starting on pages 18 and 208, respectively, of the Registration Declaration.

Positive declarations are based upon the quotes and viewpoints of management at the time the declarations are made. Other than to the degree needed by relevant law, neither Athena nor Ace carries out any responsibility to openly upgrade or modify any positive declaration, whether as an outcome of brand-new info, future occasions or otherwise. You are warned not to position excessive dependence on these positive declarations that speak just since the date hereof.

This news release is not meant to be, and will not make up, a deal to purchase, subscribe for or offer or the solicitation of a deal to purchase, subscribe for or offer any securities, or a solicitation of any vote or approval, nor will there be any sale of securities in any jurisdiction in which such deal, solicitation or sale would be illegal previous to registration or credentials under the securities laws of any such jurisdiction. No offering of securities will be made, other than by ways of a prospectus satisfying the requirements of Area 10 of the Securities Act of 1933, as changed.

This release is being made in regard of the Proposed Company Mix in between Athena and Ace. In connection with the Proposed Company Mix, Athena and Ace submitted with the SEC the Registration Declaration, along with other pertinent files concerning the Proposed Company Mix. FINANCIERS ARE PROMPTED TO READ IN THEIR WHOLE THE REGISTRATION DECLARATION REGARDING THE DEAL THAT HAS ACTUALLY BEEN SUBMITTED AND ANY OTHER PERTINENT FILES SUBMITTED WITH THE SEC, ALONG WITH ANY AMENDMENTS OR SUPPLEMENTS TO THOSE FILES, SINCE THEY CONTAIN IMPORTANT DETAILS.

Athena, Ace and particular of their particular directors and executive officers might be considered to be individuals in the solicitation of proxies from its particular investors in regard of the Proposed Company Mix considered by the Registration Declaration. Info concerning the individuals who are, under the guidelines of the SEC, individuals in the solicitation of the investors of Athena in connection with the Proposed Company Mix, consisting of a description of their direct or indirect interests, by security holdings or otherwise, are stated in the Registration Declaration submitted with the SEC. Info concerning Athena’s directors and executive officers is consisted of in its Yearly Report on Type 10-K for the year ended December 31, 2025, which is submitted with the SEC. Other info concerning the individuals in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is or will be consisted of in the Registration Declaration and other pertinent products submitted or to be submitted with the SEC concerning the Proposed Company Mix when such products appear. Financiers and security holders need to check out the Registration Declaration thoroughly before making any ballot or financial investment choices. You might acquire totally free copies of any of the files referenced herein utilizing the sources showed above.