In an exciting development for the cleantech industry, Ascend Elements has recently secured an additional $162 million in equity investments. With major investors such as Just Climate, Clearvision Ventures, and IRONGREY backing this innovative company, Ascend Elements’ total funding in the past year has now reached an impressive $704 million. This funding surge is set to propel the company’s mission of revolutionizing the production of sustainable lithium-ion batteries.
Rather than relying on traditional methods, Ascend Elements is at the forefront of recycling lithium-ion batteries and using the materials obtained to create new, engineered battery components with significantly lower carbon emissions. By adopting this circular approach, the company aims to accelerate the global transition to zero carbon emissions and support the ongoing growth of the electric vehicle (EV) industry.
One of Ascend Elements’ most notable advancements is their cutting-edge Hydro-to-Cathode® technology. This innovative process allows for the production of critical battery materials in an energy-efficient and environmentally friendly manner. By using black mass, the byproduct of lithium-ion battery recycling, Ascend Elements eliminates several intermediary steps typically involved in traditional cathode manufacturing. Not only does this streamline the process, but it also provides substantial economic and carbon reduction benefits.
The recent funding injection will further advance construction of Ascend Elements’ Apex 1 facility in Hopkinsville, Kentucky. Projected to open its doors in early 2025, this manufacturing facility will be one of North America’s first sustainable cathode precursor (pCAM) production plants. With an impressive capacity to produce pCAM and CAM (cathode active materials) for up to 750,000 electric vehicles each year, Ascend Elements is positioned to bolster the supply of critical battery materials and facilitate the widespread adoption of EVs.
By commercializing this breakthrough technology, Ascend Elements is revolutionizing the lithium-ion battery industry and championing circularity in a sector poised for exponential growth. The support and confidence shown by investors and industry partners highlight the significant impact Ascend Elements is poised to make in advancing sustainability and reducing carbon emissions in the battery industry.
The future is bright for Ascend Elements, as their commitment to innovation and sustainable manufacturing serves as a crucial catalyst for the global transition to cleaner and more efficient energy solutions.
Ascend Elements Secures $162 Million in Equity Investments
Ascend Elements, a cleantech company, has recently received $162 million in equity investments, bringing their total funding to $704 million. Major investors such as Just Climate, Clearvision Ventures, and IRONGREY have shown confidence in Ascend Elements’ mission to revolutionize sustainable lithium-ion battery production. The company aims to accelerate the global transition to zero carbon emissions and support the electric vehicle industry.
Recycling Lithium-ion Batteries for Sustainable Battery Components
Instead of relying on traditional methods, Ascend Elements is at the forefront of recycling lithium-ion batteries and using the materials obtained to create new battery components with lower carbon emissions. This circular approach streamlines the production process and contributes to the reduction of carbon emissions. By adopting this innovative approach, Ascend Elements supports the growth of the electric vehicle industry.
Hydro-to-Cathode® Technology for Environmentally Friendly Battery Materials
Ascend Elements’ cutting-edge Hydro-to-Cathode® technology allows for the energy-efficient and environmentally friendly production of critical battery materials. By using the byproduct of lithium-ion battery recycling known as black mass, Ascend Elements eliminates intermediary steps involved in traditional cathode manufacturing. This streamlined process provides economic and carbon reduction benefits.
Construction of Apex 1 Facility in Kentucky
With the recent funding, Ascend Elements will further advance the construction of its Apex 1 facility in Hopkinsville, Kentucky. This manufacturing plant, projected to open in early 2025, will be one of North America’s first sustainable cathode precursor production plants. It will have the capacity to produce critical battery materials for up to 750,000 electric vehicles each year, boosting the supply and adoption of EVs.
Revolutionizing the Lithium-ion Battery Industry
Ascend Elements’ breakthrough technology and commitment to sustainability are revolutionizing the lithium-ion battery industry. By championing circularity and innovative manufacturing, the company aims to significantly reduce carbon emissions in the battery industry. The support from investors and industry partners highlights the impact Ascend Elements is poised to make in advancing sustainability.
Related links:
– Ascend Elements (official website)
– Just Climate (major investor)
– Clearvision Ventures (major investor)
– IRONGREY (major investor)
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