Ascend Elements, a U.S.-based engineered materials and lithium-ion battery recycling company, has secured $300 million in equity and debt financing, including $200 million in Series C equity investments, from an international group of strategic and financial investors.
The funding round was led by Fifth Wall Climate and joined by SK ecoplant, the environmental unit of South Korean conglomerate SK Group. Other new investors include Oman Investment Authority, Lithium Americas Corp., 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. This funding is in addition to two recently awarded grants totaling $480 million from the Department of Energy.
The funding, along with the grants, will acce
