![]() ![]() For every new EV battery gigafactory that is built, we will need to build a new battery recycling facility to process manufacturing scrap and end-of-life batteries. “This is just the beginning of an entirely new industry in the United States. Mike O’Kronley, CEO of Ascend Elements, said, “We are honored to deepen our relationship with SK ecoplant on this new, state-of-the-art EV battery recycling facility.” Since 2022, SK ecoplant has invested more than $60 million in Ascend Elements. SK ecoplant will be the majority owner (64%), with Ascend Elements owning 25% and TES owning 11% of the new joint venture. Construction is scheduled to begin in November 2023, with completion in January 2025. The 100,000-square-foot EV battery recycling facility will disassemble and shred approximately 24,000 metric tons of used EV batteries and gigafactory scrap per year – or approximately 56,000 EV batteries per year. With fewer batteries going to landfill and a cleaner manufacturing process, Ascend Elements is taking the lithium-ion battery industry to a higher level with a sustainable, closed-loop battery economy.SINGAPORE – Septem– U.S.-based Ascend Elements is partnering with South Korea-based SK ecoplant and its e-waste recycling subsidiary, TES, to build a $65 million lithium-ion battery recycling facility in Hopkinsville, Ky. Its Hydro-to-Cathode™ direct precursor synthesis technology produces new cathode active materials from spent lithium-ion cells more efficiently than traditional methods, resulting in reduced cost, improved performance, and lowered GHG emissions. "This investment continues our strategic partnership with Ascend Elements and lays the foundation for SK ecoplant to dominate the global battery recycling industry," said SK ecoplant CEO Park Kyung-il.īased in Westborough, Mass., Ascend Elements is revolutionizing the production of lithium-ion battery materials by establishing a clean and sustainable supply chain using recycled feedstock. They also understand the urgent need to produce sustainable, lithium-ion battery materials in the United States." "SK ecoplant has been building and investing in sustainable companies and technologies, and the company's leadership understands the game-changing potential of our direct precursor synthesis technology. "This is a milestone investment for our company," Ascend Elements CEO Mike O'Kronley said. The company is also opening a battery recycling facility in Covington, Ga. When fully operational in Q4 2022, the facility known as "Base 1" will recycle more than 30,000 metric tons of used batteries and manufacturing scrap per year, making it North America's largest lithium-ion battery recycling facility. SK ecoplant's investment will help accelerate the commercialization of Ascend Elements' innovative Hydro-to-Cathode™ direct precursor synthesis process technology, which quickly and efficiently transforms recycled lithium-ion batteries and manufacturing scrap into high-performance, customized EV battery cathode precursor and cathode active materials that meet or exceed performance standards set by leading battery manufacturers.Īscend Elements recently announced plans to invest up to $1 billion over several phases to build a sustainable lithium-ion battery materials facility in Hopkinsville, Ky. The first-of-its-kind manufacturing facility, known as "Apex 1", will produce enough lithium-ion battery precursor and sustainable cathode active material to equip up to 250,000 electric vehicles per year. ![]() ![]() The investment demonstrates SK ecoplant's commitment to the North American EV battery market and strengthens the relationship between the two organizations. Ascend Elements, a U.S.-based lithium-ion battery recycling and engineered materials company, announced on 1 Sept a strategic investment of $50 million from SK ecoplant, the environmental unit of Korean conglomerate SK Inc.
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