Ascend Elements
Funding History
| Series C · 10/2022 | $300M |
|---|---|
| Series D · 09/2023 | $542M |
| Series D extension · 02/2024 | $162M |
Overview
Ascend Elements is a Westborough, Massachusetts-based battery materials company that produces engineered cathode materials for electric vehicle lithium-ion batteries using recycled feedstock. The company was founded in 2015 and originally operated under the name Battery Resourcers before rebranding to Ascend Elements in January 2022.
The company's core technology, Hydro-to-Cathode®, reclaims lithium, nickel, cobalt, and manganese from spent lithium-ion battery cells and converts them directly into cathode precursor (pCAM) and cathode active materials (CAM), rather than processing recycled metals back through conventional ore-refining routes. Ascend Elements has said this process yields lower carbon emissions than mining and refining virgin battery metals.
Ascend Elements operates a battery recycling facility in Covington, Georgia, which the company has described as one of North America's largest, and is building the Apex 1 cathode materials manufacturing facility in Hopkinsville, Kentucky. The company has also formed an international joint venture, AE Elemental, which opened a lithium-ion battery recycling facility in Zawiercie, Poland in September 2024.
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