Ascend Elements
Ascend Elements, formerly Battery Resourcers, is a MIT-spinout whose Hydro-to-Cathode process turns end-of-life batteries and manufacturing scrap into precursor and cathode active materials for EV and battery manufacturers. It makes money by recycling and selling engineered battery materials from a plant in Covington, Georgia. It was also building a large plant in Hopkinsville, Kentucky, and a pCAM and recycling project in Poland. It raised more than $1.1B in equity and grants from 2015 to 2026, including DOE grants and a $162M Series D in 2024. After the DOE cancelled a $316M grant in late 2025, it filed for Chapter 11 on April 9, 2026, with about 159 employees as of March 2026.
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