Ascend Elements Raises $542 Million To Accelerate Production Of U.S.-Engineered Lithium-Ion Battery Materials
Ascend Elements Raises $542 Million To Accelerate Production Of U.S.-Engineered Lithium-Ion Battery Materials
09/06/23, 11:33 AM
Location
westboroughMoney raised
$542 million
Industry
information technology
Investors
Alumni Ventures, Agave Partners, At One Ventures, Mirae Asset, Hitachi Ventures, Fifth Wall, Bhp Ventures, Pulse Cma Cgm Energy Fund, Alliance Resource Partners, Tenaska, Qatar Investment Authority, Temasek, Decarbonization Partners
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 Info
Location
westborough, massachusetts, united states
Additional Info
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.