Ascend Elements Raises Additional $162 Million to Build Sustainable Lithium-Ion Battery Materials in United States
Ascend Elements Raises Additional $162 Million to Build Sustainable Lithium-Ion Battery Materials in United States
02/20/24, 1:06 PM
Location
westboroughMoney raised
$162 million
Industry
information technology
Round Type
series d
Investors
Qatar Investment Authority, Temasek, Decarbonization Partners, Irongrey, Clearvision Ventures, Just Climate
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 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.