After the recent reconstitution of the Prime Unicorn Index, five new components were added. Today, we’ll delve into Ascend Elements, one of these fresh additions.
Ascend Elements is an independent manufacturer of advanced lithium battery materials. The company uses a patented process called Hydro-to-Cathode™ to transform spent lithium-ion batteries into high-value materials for electric vehicle batteries.
Ascend Elements’ technology enables a closed-loop recycling process for lithium batteries, which helps to conserve raw materials and reduce greenhouse gas emissions. The company’s products are used by battery manufacturers and other companies in the clean energy sector.
Ascend Elements is a leading company in the development of sustainable lithium battery materials. The company’s technology has the potential to revolutionize the battery industry and accelerate the transition to a clean energy future.
Ascend Elements has raised a total of $862.94 million over four rounds. It most recently raised a $460.09 million Series D round at $10.65 per preferred share, which valued the company at $1.3 billion. Investors include Temasek, Qatar Investment Authority, Hitachi, Alumni Ventures, BHP Billiton Ventures, Fifth Wall Ventures, and others.
See how Ascend Elements has performed against the Prime Unicorn Index below.