Ascend Elements is on the brink of becoming the top domestic provider of sustainable, engineered battery materials in North America with its revolutionary recycling process and patented cathode engineering tech. This marks a significant shift in the worldwide battery material supply chains.
What’s Happening
Ascend Elements, the Westborough, Mass. based company, is making headlines with its cutting-edge battery recycling process and patented cathode engineering technology. As a result of these advancements, Ascend is set to become the leading supplier of high-nickel, NMC cathode precursor (pCAM) to the rapidly expanding lithium-ion battery industry in North America.
Why It Matters
In a groundbreaking move, Ascend Elements recently inked a multi-year deal to provide around $1 billion worth of sustainable pCAM for a leading U.S. company’s battery manufacturing process, kicking off in Q4 2024. The terms of the agreement also provide the customer the option to expand the contract up to $5 billion. This agreement signifies a global shift in battery material supply chains, with Ascend Elements constructing one of North America’s first large-scale NMC pCAM production facilities in southwest Kentucky.
Key Points
Mike O’Kronley, CEO of Ascend Elements, pointed out that almost 100% of the world’s pCAM is manufactured in Asia, a trend that he sees no reason to continue. He believes that the United States needs to manufacture its own critical battery materials to secure the supply chain in North America, cut down on carbon emissions, and maintain energy independence.
The Hopkinsville, Kentucky-based Ascend Elements facility will serve as a unique, sustainable cathode manufacturing plant with the ability to produce NMC pCAM for up to 750,000 electric vehicles annually. The U.S. Department of Energy granted Ascend Elements two matching funds totaling $480 million in October 2022 to speed up the construction of this southwest Kentucky facility. Ascend Elements intends to invest over $1 billion in this project.
Bottom Line
Ascend Elements uses its patented Hydro-to-Cathode® direct precursor synthesis process to manufacture NMC pCAM and cathode active material (CAM) from used lithium-ion batteries and battery gigafactory manufacturing scrap. This closed-loop process not only eliminates several intermediary steps in the traditional cathode manufacturing process, but also provides substantial economic and carbon-reduction benefits. Peer-reviewed studies confirm that Ascend Elements’ recycled battery materials perform on par with materials derived from virgin or mined sources while significantly reducing carbon emissions related to mining. With fewer batteries ending up in landfills and a more environmentally friendly manufacturing process, the company is redefining the lithium-ion battery industry, taking it to new heights of sustainability.
