One and One Green Technologies is a scrap metal recycling company based in the Philippines. The company collects e-waste and scrap metal from local sources and international suppliers across Korea, Japan, Southeast Asia, Europe, and the U.S., then processes these materials into recycled metals it sells to industrial buyers, primarily in China. The core processing workflow involves crushing, sorting, and smelting raw scrap to produce two primary products: copper alloy ingots (roughly two-thirds of revenue) and high-purity aluminum scrap (roughly one-third of revenue). The company operates three production sites in Bulacan, Philippines, with an estimated annual processing capacity of around 300,000 tons. One and One's business model is essentially a spread business: the company buys raw scrap, processes it into refined metals at its own smelting and separation facilities, and sells the output at higher prices to institutional buyers. Margins depend on raw material sourcing costs, processing efficiency, and commodity prices for copper and aluminum. The company holds a government-issued license to import hazardous waste under the Basel Convention, which it argues is a meaningful barrier to smaller competitors. One and One is structured as a Cayman Islands holding company listed on a U.S. exchange, but controls its Philippine operating entities through contractual VIE arrangements rather than direct ownership, due to Philippine foreign ownership restrictions. Looking ahead, the company plans to expand into lithium-ion battery recycling, targeting end-of-life EV batteries as a new feedstock and revenue stream.