Battery Materials Company Ascend Elements Raises $300 Million in Funding
Ascend plans to use the funding to accelerate the commercialization of its Hydro-to-Cathode direct precursor synthesis process
October 28, 2022
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Ascend Elements, a provider of closed-loop battery materials solutions, raised $300 million in equity and debt financing. The funding round includes $200 million in Series C equity investments led by Fifth Wall Climate and joined by SK ecoplant. Other new investors include Oman Investment Authority, Lithium Americas Corporation, GLy Capital Management’s New Mobility Fund, Mirae Asset Capital & LS, and Shinhan GIB. Many investors from previous funding rounds also participated in the latest round, including Hitachi Ventures, Jaguar Land Rover’s InMotion Ventures, TDK Ventures, Orbia Ventures, At One Ventures, TRUMPF Venture, and Doral Energy-Tech Ventures.
