Ascend Elements, a Westborough, MA-based provider of sustainable, closed-loop battery materials solutions, raised additional $162M in funding.
The round, which brought the total amount to $704M, saw participation from Just Climate, Clearvision Ventures, and IRONGREY.
The company intends to use the funds to accelerate construction of its Apex 1 EV battery materials manufacturing facility currently under construction in Hopkinsville, Kentucky.
Led by CEO Mike O’Kronley, Ascend Elements is a 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), the company is working for 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 reduced cost, improved performance, and lowered GHG emissions.
FinSMEs
20/02/2024