Ascend Elements is a pioneering climate tech company dedicated to transforming the lithium-ion battery supply chain through sustainable manufacturing and advanced recycling solutions. Headquartered in Westborough, Massachusetts, the company specializes in converting spent lithium-ion batteries and manufacturing scrap into high-performance cathode active materials (CAM) and precursor cathode active materials (pCAM) for electric vehicle (EV) batteries. By leveraging its patented Hydro-to-Cathode® technology, Ascend Elements is driving the transition to a circular economy, reducing waste, and lowering carbon emissions in the battery industry.
The company’s innovative approach not only addresses the growing demand for battery materials but also mitigates the environmental impact of traditional mining and refining processes. With facilities in Covington, Georgia, and Novi, Michigan, Ascend Elements is scaling its operations to meet the needs of major EV manufacturers and battery producers. Recognized for its contributions to sustainability, the company has earned accolades such as being named one of Fast Company’s Most Innovative Companies and TIME Magazine’s Top Green Tech Companies.
Battery Technology
Ascend Elements is revolutionizing battery material production with its proprietary Hydro-to-Cathode® technology. This process directly synthesizes high-quality cathode materials from recycled lithium-ion batteries, bypassing traditional, resource-intensive methods. By recovering critical elements like lithium, nickel, and cobalt, the company creates new cathode active materials (CAM) and precursor materials (pCAM) that meet the stringent performance requirements of modern EV batteries.
In addition to its cathode-focused technology, Ascend Elements has developed Hydro-to-Anode™ technology, which recovers over 99.9% pure graphite from spent batteries. This innovation extends the company’s recycling capabilities to anode materials, further enhancing the value of recycled batteries. The integration of microstructure engineering allows Ascend Elements to customize the crystal structure of its materials to meet specific customer needs, ensuring optimal performance in a variety of applications.
These technologies not only reduce production costs by up to 50% but also lower carbon emissions by as much as 93% compared to traditional methods. By 2030, Ascend Elements aims to achieve a 90% reduction in the carbon footprint of EV battery materials, solidifying its position as a leader in sustainable battery production.
Recent Projects
In the past year, Ascend Elements has made significant strides in expanding its operations and advancing its technology. The company announced plans to increase U.S. production of lithium carbonate by 60% with a new recovery line at its Covington, Georgia facility, set to be operational by 2025. This project will produce up to 3,000 metric tons of high-purity lithium carbonate annually, marking a major milestone in domestic lithium production.
Ascend Elements also established a joint venture with Elemental Strategic Metals to operate a state-of-the-art lithium-ion battery recycling facility in Zawiercie, Poland. Additionally, the company secured a $125 million grant from the U.S. Department of Energy to support advanced graphite recycling initiatives in collaboration with Orbia. These projects underscore Ascend Elements’ commitment to scaling sustainable battery material production and recycling on a global scale.
Investors
Ascend Elements has attracted significant investment from a diverse group of climate-focused and strategic investors. In February 2024, the company raised $162 million in equity funding, bringing its total funding over the past 12 months to $704 million. Notable investors include Just Climate, Clearvision Ventures, and IRONGREY. Earlier funding rounds were led by Decarbonization Partners, Temasek, and Qatar Investment Authority, reflecting strong confidence in the company’s mission and technology.
These investments have enabled Ascend Elements to expand its facilities, develop new technologies, and establish strategic partnerships with industry leaders. The company’s ability to secure substantial funding highlights its role as a key player in the sustainable battery materials market.
Business Details
Location: Westborough, Massachusetts, USA
Website: https://ascendelements.com
LinkedIn: https://www.linkedin.com/company/ascendelements/
