Ascend Elements Raises Additional $162 Million to Build Sustainable Lithium-Ion Battery Materials in United States

Feb 20, 2024•over 1 year ago

Amount Raised

$162 Million

Round Type

series d

WestboroughInformation Technology

Investors

Qatar Investment AuthorityTemasekDecarbonization PartnersIrongreyClearvision VenturesJust Climate

Description

Ascend Elements has raised an additional $162 million in new equity investments, bringing the company's 12-month funding total to $704 million. The funding will advance construction of Ascend Elements' Apex 1 facility in Hopkinsville, Kentucky, which will be North America's first sustainable cathode precursor manufacturing facility open in early 2025.

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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