WESTBOROUGH, Mass., (March 6, 2024) — Ascend Elements, a U.S.-based EV battery materials company, has been named to the TIME Magazine America’s Top Green Tech Companies of 2024 list. The fast-growing company ranked in the top 10 of all companies recognized and at the number 3 position in the Circular Economy category.
The new statistical ranking by TIME and Statista ranks 250 of America’s top sustainability-focused companies, based on their positive environmental impact, financial strength, and innovation. To determine these, Statista analyzed data points such as value of the company’s intellectual property portfolio, revenue and funding, and environmental data specific to each industry, such as carbon capture, offsets, and renewable energy generated.
Ascend Elements is revolutionizing the EV battery materials industry with an ultra-efficient, patented technology to make new, engineered battery materials from recycled Lithium-ion batteries and production scrap. The patented Hydro-to-Cathode® direct precursor synthesis process eliminates several intermediary steps in the traditional cathode manufacturing process and provides significant economic and carbon-reduction benefits.
Several peer-reviewed studies have shown Ascend Elements’ recycled battery materials perform as well as similar materials made from primary (mined) sources. Additionally, a recent life cycle assessment found Ascend Elements can manufacture new EV battery material (NMC 622 cathode) at a 49% reduction in carbon emissions compared to traditional cathode manufacturing processes that rely on primary materials from mining.
“We have an opportunity to make new EV battery materials, and new EVs, far cleaner than they are today,” said Mike O’Kronley, CEO of Ascend Elements. “With our ultra-efficient Hydro-to-Cathode® process and use of recycled battery materials instead of primary materials from mining, we can cut the climate impact of new cathode material in half.”
By 2030, Ascend Elements aims to achieve a 90% reduction in carbon footprint for its NMC 622 cathode product.
Founded in 2015 and based in Massachusetts, Ascend Elements is a leading provider of sustainable, closed-loop battery material solutions. From EV battery recycling to commercial-scale production of lithium-ion battery precursor (pCAM) and cathode active materials (CAM), Ascend Elements is revolutionizing the production of sustainable lithium-ion battery materials. Its Hydro-to-Cathode® direct precursor synthesis technology produces new CAM from spent lithium-ion cells more efficiently than traditional methods, resulting in improved economics and lowered GHG emissions. With fewer batteries going to landfill and a cleaner manufacturing process, Ascend Elements is taking the lithium-ion battery industry to a higher level of sustainability.