Ascend Elements Raises $542 Million To Accelerate Production Of U.S.-Engineered Lithium-Ion Battery Materials

Sep 06, 2023•over 2 years ago

Amount Raised

$542 Million

WestboroughInformation Technology

Investors

Alumni VenturesAgave PartnersAt One VenturesMirae AssetHitachi VenturesFifth WallBhp VenturesPulse Cma Cgm Energy FundAlliance Resource PartnersTenaskaQatar Investment AuthorityTemasekDecarbonization Partners

Description

Ascend Elements, a U.S.-based manufacturer of sustainable, engineered battery materials for electric vehicles, today announced it has raised $542 million in new equity investments, including $460 million in Series D investments and $82 million of additional investments from earlier this year. Ascend Elements' Series D round was led by Decarbonization Partners, Singapore-based investment firm Temasek, and Qatar Investment Authority (QIA). Other investors include Tenaska, Alliance Resource Partners, PULSE - CMA CGM Energy Fund, BHP Ventures, Fifth Wall, Hitachi Ventures, Mirae Asset, At One Ventures, Agave Partners, Alumni Ventures and other leading global investors.

Company Information

Company

Ascend Elements

Location

Westborough, Massachusetts, United States

About

Ascend Elements is a leading provider of sustainable, closed-loop battery materials solutions. From EV battery recycling to commercial-scale production of lithium-ion battery precursor (pCAM) and cathode active materials (CAM), Ascend Elements is revolutionizing the production of sustainable lithium-ion battery materials. Its proprietary Hydro-to-Cathode® direct precursor synthesis technology produces new pCAM from spent lithium-ion cells more efficiently than traditional methods, resulting in up to 90% lower GHG emissions. With fewer batteries going to landfill and a cleaner manufacturing process, Ascend Elements is taking the lithium-ion battery industry to a higher level of sustainability.

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