ESG Today writes that 2015-founded Ascend Elements provides closed-loop battery materials solutions, such as EV battery recycling and cathode active materials. Using a proprietary recycling solution, which is said to be more efficient than those used by other companies, Ascend Elements produces new cathode materials from end-of-life lithium-ion batteries with a lower cost, fewer emissions.

Company officials claim that the upcoming Kentucky-based facility, called Apex 1, which could open early next year, will be one of North America's most sustainable lithium-ion battery recycling facilities, being able to produce enough battery mass to power 750.000 EVs per year.

Ascend Elements CEO Mike O’Kronley said that "by recycling lithium-ion batteries and making new, engineered battery materials with lower carbon emissions, Ascend Elements is accelerating the global transition to zero carbon emissions."

Just Climate, Clearvision Ventures, and IRONGREY are among the major investors who participated in the 162 million USD funding round.