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Ascend Elements Raises $162M for Lithium Batteries

Ascend Elements has raised $162 million for sustainable lithium-ion battery materials production, with total funding reaching $704 million in the past year. 

The initial funding round in September 2023 was led by Decarbonization Partners, Temasek, and Qatar Investment Authority. The recent addition includes Just Climate, Clearvision Ventures, and IRONGREY.

This funding will go towards the construction of the Apex 1 facility in Hopkinsville, Kentucky. Expected to open in 2025, the facility will be the first sustainable cathode precursor manufacturing plant in North America. It will provide materials for up to 750,000 EVs per year. 

Investments like this could help make the U.S. a leader in sustainable electric vehicle battery production. 

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