Decarbonization Partners Invests in Ascend Elements, a Leading Manufacturer of Sustainable Battery Materials for Electric Vehicles
Co-leads Ascend Elements’
Concurrently, Decarbonization Partners Fund I reaches
The electrification of the global economy is projected to increase lithium-ion demand over 5 times by 20302, requiring a massive scaleup of the battery supply chain and raw material supply. Additionally, efficient recycling of end-of-life batteries and scrap material is critical to accelerating the electrification of the transportation sector. Ascend Elements’ innovative technology is helping to address both of these decarbonization challenges.
Headquartered in
“We are thrilled to partner with Ascend Elements, which has established itself as a leader in the fast-growing sustainable battery materials space that is vital to accelerating the electrification of transport,” said Dr. Meghan Sharp, Global Head of Decarbonization Partners. “We are pleased to collaborate on this investment alongside Temasek and look forward to supporting Ascend Elements’ continued expansion and technological innovation.”
“I’d like to thank Decarbonization Partners and our new and existing partners for helping us deliver on our vision of producing sustainable, engineered battery materials at a commercial scale. Our sustainable lithium-ion battery materials will power EV batteries and accelerate the global transition to zero carbon emissions,” said CEO Mike O’Kronley of Ascend Elements. “Together, we are investing in North America’s critical EV battery infrastructure and bringing good manufacturing jobs back to the United States.”
Decarbonization Partners is currently raising its inaugural late-stage venture capital and early growth private equity investment fund, The Decarbonization Partners Fund I. The Fund has reached
About Decarbonization Partners
Decarbonization Partners is a joint venture between Temasek and BlackRock focused on late-stage venture capital and early growth private equity investing in next-generation companies that provide solutions and technologies to help accelerate global efforts to achieve a net zero global economy by 2050. Decarbonization Partners combines Temasek and BlackRock's expertise in sourcing and underwriting private investments, portfolio and risk management, and sustainable technology and analytics. Decarbonization Partners invests in a wide range of companies that have proven technology and need capital to scale. The partnership targets multiple sectors, including Carbon Capture, Storage and Utilization, Bio and Low Carbon Products, Next Generation Energy, Advanced Mobility, Carbon Management Services and Digital Transformation. The partnership reflects BlackRock and Temasek's shared commitment to help build more sustainable and resilient portfolios, while also contributing to consistent, long-term financial returns that benefit their clients and stakeholders.
About Ascend Elements
Based in
1 Source: Pitchbook data; August 2023
2 Source: McKinsey Battery Insights Demand Model; January 2023
View source version on businesswire.com: https://www.businesswire.com/news/home/20230906105669/en/
Decarbonization Partners
Christopher Beattie
+1 646 231-8518
christopher.beattie@blackrock.com
Ascend Elements
Thomas Frey, APR
+1.734.658.0143
tfrey@ascendelements.com
Source: BlackRock