AE Elemental uses a sophisticated recycling process starting with disassembly, discharging, and shredding of EV batteries into black mass. Utilizing Ascend Elements’ proprietary Hydro-to-Cathode® direct precursor synthesis technology, the black mass is converted into high-purity cathode active material (CAM) and cathode precursor (pCAM). The process achieves a 99% recovery rate of nickel, cobalt, lithium, aluminum, and graphite, significantly reducing raw material mining and associated emissions. Lithium extraction at commercial scale will be added to the Polish facility by fall 2024 to enhance processing efficiency and comply with EU recycled content regulations by 2030.
The company offers recycling services through its large-scale lithium-ion battery recycling facilities, capable of processing 12,000 metric tons annually at its Polish plant, with plans to expand to 25,000 metric tons annually in Germany. Products include recovered high-purity cathode active material (CAM) and cathode precursor (pCAM) derived from used EV battery black mass, supporting the production of new lithium-ion batteries with recycled content.
AE Elemental operates a state-of-the-art EV battery recycling facility in Zawiercie, Poland, opened in 2024, processing up to 12,000 metric tons of used lithium-ion batteries annually. The company plans a second recycling facility in central Germany by 2026, designed to handle 25,000 metric tons annually. Construction for large-scale lithium extraction capabilities at the Polish facility will begin in 2024 and be operational by 2026. These projects align with EU regulations requiring minimum recycled content in batteries and demonstrate a 50/50 joint venture partnership between Ascend Elements and Elemental Strategic Metals.
AE Elemental is financed by its parent companies Ascend Elements and Elemental Strategic Metals. Ascend Elements has secured about $700M in equity funding, including a Series C round of $200M and additional equity and debt financing of $300M, plus $480M in U.S. Department of Energy grants. Elemental Strategic Metals has raised $290M in equity funding and is approaching another funding round. The joint venture’s detailed shareholder structure is not publicly disclosed, but both parent companies contribute substantial capital and strategic investors.
