Decarbonisation Partners, which is a sustainable private investment partnership between asset manager BlackRock and sovereign wealth fund Temasek, has co-led a growth equity investment in Ascend Elements. As part of the investment, which has contributed to the US$460 million Series D round, a representative of the Decarbonisation Partners will sit on the board of the US-based manufacturer of sustainable, engineered battery materials for electric vehicles (EVs). In total, Ascend Elements has raised US$542 million in new equity investments this year. The Series D funding will advance the construction of Ascend Elements’ Apex 1 facility in Kentucky, which will serve as North America’s first sustainable cathode precursor and cathode active material manufacturing facility. Dr Meghan Sharp, Global Head of Decarbonisation Partners, said: “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. We are pleased to collaborate on this investment and look forward to supporting Ascend Elements’ continued expansion and technological innovation.”
