Ascend Elements (Series D)
Funding Details
- Awarder
- Inbox
- Date Award
- September 06, 2023
- Vertical
- Battery Materials
- Funding URL
- View Funding Page
- Funding Amount:
- $542,000,000
Company Info
- Traction
- Ascend Elements has achieved significant support from major industry players and received $480 million in grants from the Department of Energy. The company is building North America's first sustainable cathode precursor and cathode active material facility in Kentucky, which will manufacture enough materials to power 750,000 EVs annually.
- Organizations Involved
- Goldman Sachs & Co.
- Company Description
- Ascend Elements is a leading provider of sustainable, closed-loop, engineered battery materials solutions for electric vehicles (EVs). The company commercializes a method that produces cathode precursor and cathode active materials from recycled lithium-ion batteries, significantly reducing carbon emissions in the production process.
- Market
- Electric Vehicles
- Location
- Massachusetts, United States
- Coinvestors
- Decarbonization Partners, Temasek, Qatar Investment Authority, BHP Ventures, Hitachi Ventures, Tenaska, Agave Partners, Fifth Wall