Investment led by seasoned sector-focused institutional investors supports development of Ace’s Texas facility and international operations

HOUSTON, April 24, 2026 /PRNewswire/ — Ace Green Recycling, Inc. (“Ace” or the “Company”), a leading provider of sustainable battery recycling technology solutions, and Athena Technology Acquisition Corp. II (“ATEK II” or “Athena”), a publicly traded special purpose acquisition company, today announced that they have entered into securities purchase agreements with certain investors for an aggregate $32 million private investment in public equity (“PIPE”) financing to support their previously-announced proposed business combination (the “Proposed Business Combination”), with the common stock of the combined company expected to be listed on the Nasdaq Stock Market under the ticker “AGXI” following the consummation of the Proposed Business Combination.

The PIPE financing includes participation from sector-focused institutional investors, and is expected to support Ace’s differentiated recycling platform for lithium (nickel-manganese-cobalt & lithium iron phosphate) and lead batteries and its role in enabling domestic supply chains for critical battery materials supporting a circular economy for batteries. The financing is a key milestone toward the completion of the Proposed Business Combination and supports the Company’s strategy to scale its U.S. footprint, global supply chain management platform, and commercialize its next-generation battery recycling technology.

“This investment accelerates our mission to redefine battery recycling at a global scale,” said Ace CEO Nishchay Chadha. “At Ace, we are deploying GREENLEAD® and LithiumFirst™ as a new standard – fully electrified, Scope 1 emissions-free solutions designed to replace legacy processes and unlock a cleaner supply chain for critical materials. We believe that the future of electrification depends on how efficiently and sustainably we recover these resources, and this milestone brings us meaningfully closer to that future.”

Concurrent with and contingent upon the closing of the Proposed Business Combination, Ace expects to receive approximately $32 million in gross proceeds from the PIPE financing before transaction expenses. The Company expects to use these proceeds primarily to fund capital expenditures related to the development of its Texas recycling facility as well as for general corporate purposes, including supporting the expansion of operations and to fund the purchase of other companies , as described in the registration statement on Form S-4 most recently filed with the Securities and Exchange Commission by Athena and Ace on March 24, 2026.

We believe that investor participation in this PIPE reflects confidence in Athena’s ability to bring together exceptional talent and partner with high-quality companies through complex transactions and the public market process. We also believe that Ace is well positioned to support a more resilient domestic supply chain for critical battery materials, and this marks an important step toward closing the Proposed Business Combination,” said Isabelle Freidheim, Chairman and Chief Executive Officer of Athena

Advisors

Rimon P.C. is serving as legal counsel to Ace. Latham & Watkins LLP is serving as legal counsel to ATEK II.

About Ace Green Recycling

Ace Green Recycling, Inc., incorporated in Delaware, is an innovative battery recycling technology platform offering sustainable end-of-life solutions. It has deployed modular, Scope 1 carbon emissions-free recycling facilities for lithium (nickel-manganese-cobalt & lithium iron phosphate) and lead batteries used in various industries including electronics, automotive and energy storage. Ace was founded by Nishchay Chadha, Chief Executive Officer and a veteran in recycling, mining and global supply chain industries, and Dr. Vipin Tyagi, Chief Technology Officer, with extensive experience in battery materials recycling technologies. For more information, please visit www.acegreenrecycling.com.

About Athena Technology Acquisition Corp. II

Athena Technology Acquisition Corp. II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. Athena is part of the broader Athena platform founded by Isabelle Freidheim and supported by a senior leadership team with deep experience across public transactions, private M&A, growth investing and technology leadership. The broader Athena platform brings differentiated transaction experience, investor alignment and partnership-oriented execution to the business.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains statements regarding Athena, Ace, the Proposed Business Combination and other matters that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, forward-looking statements can be identified by words such as “anticipate,” “approximate,” “believe,” “plan,” “estimate,” “expect,” “project,” “could,” “should,” “strategy,” “will,” “intend,” “may” and other similar expressions or the negative of such words or expressions. Statements in this report concerning (i) Athena’s or Ace’s expected future financial position, business strategy, production capacity, competitive positions, growth opportunities, plans and objectives of management and (ii) the expected benefits of the Proposed Business Combination, together with other statements that are not historical facts, are forward-looking statements that are estimates reflecting management’s best judgment based upon currently available information. Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from expectations as a result of a variety of factors, including, without limitation, those discussed below. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which Athena and Ace are unable to predict or control, that may cause actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated in these statements as a result of a number of factors, including, but not limited to:

Ace has a limited operating history at scale and is developing a flagship and new facility in the United States; scaling up its operations and expansion in the U.S. may carry uncertainties and pose liquidity risks to Ace;Ace may not be able to secure adequate capital to execute its business plan;If Ace is unable to overcome the workforce and engineering challenges arising from scaling up production from its existing capacities, it may not succeed in executing its growth and expansion plans;Successful or timely implementation of Ace’s planned U.S. facility may be delayed due to licensing or regulatory issues;A large portion of Ace’s profit is derived from a relatively small number of major customers, and its business, financial condition, and results of operations could be materially and adversely affected if its key customers fail to meet their contractual obligations;Prices for recovered materials are subject to global market fluctuations and price instability may negatively impact Ace’s financial performance;Ace relies on third-party vendors for key machineries and failure to acquire and maintain them may adversely disrupt its operations;A decline in green energy adoption may inhibit future recycling opportunities and may result in decreased demand for Ace’s products;Ace’s proprietary know-how may be rivaled by competitors, which may erode the technological edge it has established;Unfavorable economic or geopolitical conditions could constrain Ace’s expansion, inhibit its further growth and otherwise have a material adverse effect its business, results of operations, prospects and financial condition;Athena and Ace may not obtain the requisite stockholder approvals for the Proposed Business Combination;Nasdaq may not list the common stock of the surviving company following the Proposed Business Combination, which could limit investors’ ability to effect transactions following the Proposed Business Combination;An event, change or other circumstance could result in the termination of the Proposed Business Combination;A condition to the closing of the Proposed Business Combination may not be satisfied;There may be delays in completing the Proposed Business Combination;Any announcement or news coverage relating to the Proposed Business Combination could have adverse effects on the market price of Athena common stock or Ace common stock;The risk of litigation related to the merger; andOther risks and uncertainties identified in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business” sections of Athena’s most recent Annual Report on Form 10-K, and other risks as identified from time to time in its SEC reports.

All of the forward-looking statements Athena and Ace make in or in connection with this report are qualified by the information contained or incorporated by reference in a registration statement filed by Athena and Ace on Form S-4, that includes a proxy statement and a prospectus, to register the shares of Athena stock that will be issued to Ace’s stockholders (the “Registration Statement”). For additional information, see the sections entitled “Risk Factors” and “Where You Can Find More Information” beginning on pages 18 and 208, respectively, of the Registration Statement.

Forward-looking statements are based on the estimates and opinions of management at the time the statements are made. Except to the extent required by applicable law, neither Athena nor Ace undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

NO OFFER OR SOLICITATION

This press release is not intended to be, and shall not constitute, an offer to buy, subscribe for or sell or the solicitation of an offer to buy, subscribe for or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

IMPORTANT ADDITIONAL INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND WHERE TO FIND IT

This release is being made in respect of the Proposed Business Combination between Athena and Ace. In connection with the Proposed Business Combination, Athena and Ace filed with the SEC the Registration Statement, as well as other relevant documents regarding the Proposed Business Combination. INVESTORS ARE URGED TO READ IN THEIR ENTIRETY THE REGISTRATION STATEMENT REGARDING THE TRANSACTION THAT HAS BEEN FILED AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION.

A free copy of the Registration Statement, as well as other filings containing information about Athena, may be obtained at the SEC’s website (http://www.sec.gov). You will also be able to obtain these documents, free of charge, from Athena by calling (970) 925-1572.

PARTICIPANTS IN THE SOLICITATION

Athena, Ace and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from its respective stockholders in respect of the Proposed Business Combination contemplated by the Registration Statement. Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the stockholders of Athena in connection with the Proposed Business Combination, including a description of their direct or indirect interests, by security holdings or otherwise, are set forth in the Registration Statement filed with the SEC. Information regarding Athena’s directors and executive officers is contained in its Annual Report on Form 10-K for the year ended December 31, 2025, which is filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is or will be contained in the Registration Statement and other relevant materials filed or to be filed with the SEC regarding the Proposed Business Combination when such materials become available. Investors and security holders should read the Registration Statement carefully before making any voting or investment decisions. You may obtain free copies of any of the documents referenced herein using the sources indicated above.

Contacts:

Media
Media@ace-green.com

Investors
Investors@ace-green.com

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—Growth of 115,020 net subscribers in Totalplay Residencial in the period strengthens the company’s service revenues—

 —EBITDA less Capex and interest reached Ps.883 million, the highest level ever recorded for a first quarter—

—A 9% reduction in debt with cost from loans provides additional strength to the company’s capital structure—

MEXICO CITY, April 23, 2026 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a leading telecommunications company in Mexico, which offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, announced today financial results for the first quarter of 2026.

“The growing preference of millions of homes for our technologically advanced internet services, with superior stability and speed, resulted in a net increase of 115,020 subscribers in the quarter, which continued to drive the company’s revenue,” commented Eduardo Kuri, CEO of Total Play. “The growth of our operations was consistent with the Capex which represented only 22% of revenue, and interest payments that decreased double-digit, in the context of lower debt with cost at the company. This resulted in a 51% increase in cash generation — defined as EBITDA less Capex and interest paid — reaching a record high of Ps.883 million in the period.”

“Regarding the balance sheet, we began this quarter with the amortization schedule for the Senior Secured Notes due 2028 — through a principal payment of US$15 million for the period — which adds to the US$56 million amortization of the remaining balance of the Senior Notes due in 2025 — done in the previous quarter — which, among other debt payments, contributed to a 9% reduction in our balance of debt with cost from loans,” added Mr. Kuri. “Simultaneously, we were able to decrease our lease liabilities by 30% and our trade payables by 22%, further strengthening Total Play’s solid capital structure.”

First quarter results 

Revenue for the quarter was Ps.11,177 million, 3% higher than Ps.10,843 million for the same period of the previous year. Total costs and expenses were Ps.6,328 million, compared to Ps.5,761 million in the prior year.

As a result, Total Play’s EBITDA was Ps.4,849 million, from Ps.5,082 million a year ago; the quarter’s EBITDA margin was 43%. The company reported operating profit of Ps.301 million, compared to Ps.763 million a year earlier.

Total Play reported a net loss of Ps.1,327 million from a loss of Ps.1,961 million in the same quarter of 2025.

Amounts in millions of pesos.
EBITDA: Earnings before interest, taxes, depreciation, and amortization.

Revenue from services 

The company’s revenue increased 3%, as a result of 3% growth in sales in the residential segment and 4% growth in revenue from the enterprise segment.

Totalplay Residential’s revenue increase to Ps.9,848 million, up from Ps.9,570 million the previous year, is related to a 4% increase in the number of the company’s service subscribers compared to the same quarter of the previous year, reaching 5,554,374 this period — a figure that includes 67,856 small and medium-sized businesses. Compared to the previous quarter, the subscriber base increased by 115,020 users. The company believes that the number of subscribers achieved this quarter reflects its remarkable ability to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and service excellence.

Average revenue per subscriber (ARPU) for the quarter was Ps.588, compared to Ps.597 a year ago. The decrease in ARPU is largely related to a growing proportion of double-play subscribers compared to triple-play subscribers within the total residential subscriber base.

The number of homes passed by Total Play in Mexico at the end of this period was 19.5 million, compared to 17.6 million a year ago.

Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 28.5% at the end of the quarter from 30.2% a year ago.

Revenue from the enterprise segment was Ps.1,329 million, up from Ps.1,273 million in the previous year, as a result of contracting Total Play services for the development of corporate client projects.

Costs and expenses 

Total costs and expenses increased 10% as a result of a 4% increase in service costs and a 12% increase in expenses.

The increase in costs to Ps.1,663 million from Ps.1,597 million in the previous year, results mainly from higher costs related to memberships, maintenance and support, partially offset by lower content costs — as a result of a higher proportion of double play users in the mix of residential service subscribers and the negotiation of terms, in an optimal way, with content producers —.

The increase in expenses to Ps.4,665 million from Ps.4,164 million reflects higher maintenance, personnel, advertising and promotion expenses, in the context of the company’s growing operations.

EBITDA and net result 

Total Play’s EBITDA was Ps.4,849 million compared to Ps.5,082 million the previous year.

Relevant variations below EBITDA were the following:

An increase of Ps.229 million in depreciation and amortization, as a result of user acquisition costs — telecommunications equipment, labor and installation in the period.

A Decrease of Ps.189 million in accrued interest payable, in the context of reducing the company’s debt with cost balance during the period.

Changes in the fair value of financial instruments of Ps.921 million, due to costs related to hedging options in the previous year.

Other financial income of Ps.31 million, compared to other expenses of Ps.200 million in the previous year, as a result of costs related to debt issuances a year ago.

A, increase of Ps.109 million in exchange losses as a result of net liability monetary position in foreign currency, together with greater depreciation of the peso against the basket of currencies in which the company’s monetary liabilities are denominated this quarter, compared to the previous year.

Total Play reported a net loss of Ps.1,327 million from a net loss of Ps.1,961 million in the same period of 2025.

Balance sheet

As of March 31, 2026, the company’s debt with cost from loans was Ps.55,477 million, 9% lower than the Ps.60,806 million of the previous year. The reduction resulted from various debt with cost amortizations during the period, including US$15 million of the company’s Senior Secured Notes due 2028 this quarter and US$56 million of the remaining Senior Notes due 2025, done last November, partially offset by the issuance of US$200 million in Additional Notes to the Senior Secured Notes due 2032, announced in April 2025.

Lease liabilities were Ps.2,756 million, 30% lower compared to Ps.3,917 million in the previous year.

Cash and cash equivalents, as well as restricted cash in trusts, was Ps.6,477 million, compared to Ps.10,008 million a year ago. As a result, the company’s net debt was Ps.51,756 million, 5% lower compared to Ps.54,715 million in the previous year.

The debt ratio — Net Debt / EBITDA of the last two quarters annualized — was 2.62 times.

Total Play’s fixed assets — which include accumulated investment in fiber optics, telecommunications equipment and subscriber acquisition costs, among other assets — were Ps.79,312 million, compared to Ps.85,944 million a year ago.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

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SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

TAIPEI, April 23, 2026 /PRNewswire/ — QNAP® Systems, Inc., a leading computing, networking, and storage solution innovator, today announced the launch of the QSW-M7230-2X4F24T, a new L3 Lite managed 100GbE switch designed for enterprise network upgrades, high-performance storage environments, large-scale media production, virtualization, and AI-driven workloads. The new switch enables organizations to build a scalable 100GbE core network while maintaining cost efficiency and protecting existing infrastructure investments.

As data-intensive applications continue to accelerate—from AI computing and virtualization to collaborative media workflows—enterprises are increasingly challenged to evolve beyond 10GbE networks without incurring disruptive, large-scale replacements. The QSW-M7230-2X4F24T addresses this transition by providing a flexible, multi-speed architecture that allows enterprises to introduce higher-speed connectivity where it matters most, while expanding the core network over time.

Featuring 100GbE backbones, 25GbE server uplinks, and 24-port 10GbE access, the QSW-M7230-2X4F24T offers seamless multi-speed integration. It allows enterprises to deploy high-performance 25GbE/100GbE where needed while preserving existing 10GbE assets, effectively minimizing upgrade complexity and maximizing infrastructure value.

“By combining 100GbE, 25GbE, and high-density 10GbE connectivity in a 1U form factor, the QSW-M7230-2X4F24T delivers exceptional flexibility and cost efficiency among its class,” said Ronald Hsu, Product Manager at QNAP. “It is an ideal solution for enterprises seeking a practical path to 100GbE without compromising current investments or future scalability.”

Optimized for AI and high-performance storage, the QSW-M7230-2X4F24T offers 10G/25G/100G multi-speed links with a 1080Gbps capacity, supporting PFC and ECN for lossless Ethernet. It combines L3 Lite management (including static routing and advanced VLANs) with an MC-LAG architecture to provide enhanced network resilience and high availability, ensuring uninterrupted service and eliminating single points of failure for critical business infrastructure.

For media and AV over IP deployments, the switch further strengthens multicast control and time synchronization. With support for IGMP Snooping, VLAN-based traffic segmentation, and a high-precision clock with PTP Boundary Clock, the QSW-M7230-2X4F24T minimizes audio-video synchronization issues commonly encountered in multi-display environments. This makes it well suited for broadcast production, live event venues, command centers, and enterprise video applications.

In addition, the QSW-M7230-2X4F24T supports AMIZcloud, QNAP’s cloud-based centralized management platform. Without requiring additional hardware or software controllers, IT teams can remotely monitor and manage multiple switches across locations, simplifying troubleshooting and reducing ongoing operational overhead.

For more information and to view the full QNAP lineup, please visit www.qnap.com.

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SOURCE QNAP Systems, Inc.