Ascend Elements (Series D)
Funding Details
Awarder
Inbox
Date Award
September 6, 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.
Market
Electric Vehicles
Location
Massachusetts, United States
Coinvestors
Decarbonization Partners, Temasek, Qatar Investment Authority, BHP Ventures, Hitachi Ventures, Tenaska, Agave Partners, Fifth Wall
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.

Links
Website
Back to HomeBack to Battery Materials DealsView Funding Announcement