Ascend Elements, a company focused on recycling lithium-ion batteries and creating new battery materials with lower carbon emissions has raised $162 million in new equity investments – bringing the company’s total funding over the past year to $704 million.
CEO Mike O’Kronley expressed his gratitude to investors for supporting North America’s EV battery infrastructure. He highlighted the confidence that leading climate investors and industry partners have shown in Ascend Elements.
Aruna Ramsamy, a Managing Director at Just Climate, praised Ascend Elements’ technology for transforming spent lithium-ion batteries into critical materials for new batteries. The company’s Hydro-to-Cathode ® technology offers a sustainable solution for producing battery materials and promoting circularity in the industry.
The new funding will help advance the construction of Ascend Elements’ Apex 1 facility in Hopkinsville, which will be North America’s first sustainable cathode precursor manufacturing facility and is expected to open early next year.
The facility is expected to produce materials for up to 750,000 electric vehicles annually. The company’s patented process offers economic and environmental benefits, positioning it as a key player in the transition to zero carbon emissions.
