<div>
  <ul>
    <li>
      <p>
        Ascend Elements, a cathode material-recycling company, has raised USD 162 million in a Series D round, with participation from Just Climate, Clearvision Ventures, and IRONGREY.
      </p>
    </li>
    <li>
      <p>
        The funds will support the construction of the Apex 1 EV battery materials manufacturing facility located in Hopkinsville, Kentucky, which is slated for completion by 2025. Once operational, the one-million-square-foot facility will produce sustainable pCAM (cathode precursor materials) and CAM (cathode active materials) for up to 750,000 electric vehicles per year. The project is supported in part by the US Department of Energy and the Bipartisan Infrastructure Law (BIL).
      </p>
    </li>
    <li>
      <p>
        <b>Analyst QuickTake:</b>
         The company previously 
        <a href="https://sp-edge.com/updates/21610">
          raised USD 542 million
        </a>
         for the construction of its Apex 1 facility in September 2023. The Apex 1 facility, along with the company&rsquo;s lithium-ion battery recycling facility in 
        <a href="https://sp-edge.com/updates/17477">
          Covington, Georgia
        </a>
        , which can process 30,000 metric tons of used batteries annually, represent key pieces of infrastructure that will position Ascend Elements as a leading pCAM and CAM supplier in North America. In June 2023, The company also secured a multi-year contract to 
        <a href="https://sp-edge.com/updates/19206">
          supply nearly USD 1 billion worth
        </a>
         of sustainable cathode precursor (pCAM) to a US battery manufacturer, starting in Q4 2024.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.prnewswire.com/news-releases/ascend-elements-raises-additional-162-million-to-build-sustainable-lithium-ion-battery-materials-in-united-states-302065369.html">
      Press release
    </a>
  </p>
</div>


Waste Recovery & Management Tech

ANALYST_QUICK_TAKE

<div>
 <p>Ascend Elements, a company specializing in recycling cathode materials, has secured USD 162 million in a Series D funding round. Investors include Just Climate, Clearvision Ventures, and IRONGREY.</p>
 <p>The raised funds will be used for building the Apex 1 EV battery materials manufacturing facility in Hopkinsville, Kentucky. The facility is expected to be functional by 2025. The one-million-square-foot production entity aims to manufacture sustainable pCAM (cathode precursor materials) and CAM (cathode active materials) for up to 750,000 electric vehicles annually. The US Department of Energy and the Bipartisan Infrastructure Law (BIL) partially back the project.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The company previously <a href="https:<br>
//sp-edge.com/updates/21610"> raised USD 542 million </a> for the construction of its Apex 1 facility in September 2023. The Apex 1 facility, along with the company’s lithium-ion battery recycling facility in <a href="https:<br>
//sp-edge.com/updates/17477"> Covington, Georgia </a> , which can process 30,000 metric tons of used batteries annually, represent key pieces of infrastructure that will position Ascend Elements as a leading pCAM and CAM supplier in North America. In June 2023, The company also secured a multi-year contract to <a href="https:<br>
//sp-edge.com/updates/19206"> supply nearly USD 1 billion worth </a> of sustainable cathode precursor (pCAM) to a US battery manufacturer, starting in Q4 2024.</p>

Ascend Elements raises USD 162 million to accelerate construction of Apex 1 manufacturing facility

DISRUPTOR_PRESENT

PROMINENT_CATEGORY

<div>
  <ul>
    <li>
      <p>
        Ascend Elements and Koura have advanced their partnership to explore the commercialization of a patented graphite recycling technology. The Hydro-to-Anode technology is expected to optimize battery recycling and accelerate the adoption of recycled graphite anodes in the EV industry.
        <a href="https://sp-edge.com/updates/17070"> partnership </a>
      </p>
    </li>
    <li>
      <p>
        The partners aim to scale the graphite recycling technology to recover 99.9% pure graphite from end-of-life lithium-ion batteries. They plan to build an advanced graphite recycling facility to supply compliant graphite to EV OEMs and battery manufacturers.
      </p>
    </li>
  </ul>
</div>

Ascend Elements and Koura develop advanced graphite recycling technology in the US

Ascend Elements and SK Ecoplant have formed a joint venture to build a battery recycling pretreatment plant in Kentucky. The plant is expected to cost $65.8 million and will produce 12,000 tons of black mass. It is set to be operational by January 2025. SK Ecoplant will own 64% of the joint venture, with 11% owned by TES, a subsidiary of SK Ecoplant, and the remaining 25% by Ascend Elements.

Ascend Elements partners with SK Ecoplant to build battery recycling plant

Swedish company Cinis Fertilizer is building its largest plant in Hopkinsville, Kentucky, to convert industrial waste into sulfate of potash (SOP) fertilizer. The plant will have a capacity of 300,000 metric tons per year and is set to start operations in 2026. Cinis Fertilizer has partnered with Ascend Elements to secure sodium sulfate, and with K+S Minerals and Agriculture to sell potassium sulfate and purchase potassium chloride. The investment for the plant is estimated at SEK 1 billion, which will be financed through internal cash flow, loans, and possible state and federal investment grants. Cinis Fertilizer plans to reach a total production capacity of 1.5 million tons of potassium sulfate by 2030 across six facilities.

Cinis Fertilizer enters US market with largest facility in Kentucky; partners with Ascend Elements and K+S for sodium sulfate supply

Natural Fertilizers

Swedish company Cinis Fertilizer is building its largest plant in Hopkinsville, Kentucky, which will convert industrial waste into sulfate of potash (SOP) fertilizer. The plant will have a capacity of 300,000 metric tons per year and is set to start operations in 2026. Cinis Fertilizer has secured a ten-year agreement with Ascend Elements to obtain up to 240,000 metric tons of sodium sulfate per year. The company has also expanded its partnership with K+S Minerals and Agriculture to sell potassium sulfate and purchase potassium chloride. The investment in the Hopkinsville plant is estimated at SEK 1 billion and will be financed through internal cash flow, loans, and potential investment grants. The company is also in talks with a regional power supplier to secure fossil-free electricity.

Ascend Elements is joining forces with Freudenberg e-Power Systems to create a sustainable cathode-active material (CAM) for heavy-duty electric vehicles. Ascend will create a custom-engineered NMC cathode material tailored to Freudenberg's needs. The partnership aims to ensure a stable supply chain by utilizing Ascend's manufacturing facilities. Additionally, both companies strive to manufacture a high-quality CAM with a long lifespan, promoting sustainability in the battery industry.

Ascend Elements partners with Freudenberg e-Power Systems to customize CAM

Cathode material recycling company, Ascend Elements, has raised $542 million in equity instruments, bringing their total funding to $1.4 billion. The funding includes $460 million from a Series D round led by Decarbonization Partners, Temasek, and Qatar Investment Authority, with other investors such as Tenaska, BHP Ventures, and Fifth Wall. An additional $82 million was obtained in May 2023. The funds will be used to accelerate the construction of Ascend's Apex 1 facility in Kentucky, which will manufacture sustainable cathode-precursor and cathode-active materials for electric vehicle batteries. Ascend signed a contract in June 2023 to supply $1 billion worth of materials to a US battery manufacturer in 2024.

All Updates

Ascend Elements raises USD 162 million to accelerate construction of Apex 1 manufacturing facility

Ascend Elements and Koura develop advanced graphite recycling technology in the US

Ascend Elements partners with SK Ecoplant to build battery recycling plant

Cinis Fertilizer enters US market with largest facility in Kentucky; partners with Ascend Elements and K+S for sodium sulfate supply

Cinis Fertilizer enters US market with largest facility in Kentucky; partners with Ascend Elements and K+S for sodium sulfate supply

Ascend Elements partners with Freudenberg e-Power Systems to customize CAM

Ascend Elements raises USD 542 million to accelerate construction of manufacturing facility

Ascend Elements partners with Call2Recycle for end-of-life EV battery logistics

Ascend Elements secures multi-year contract for sustainable cathode precursor supply

Ascend Elements opens EV battery recycling facility in Georgia