Business Insider Exclusive: Battery-recycling startup Ascend Elements just pulled in $800 million in funding. Here’s why investors are betting on it.

Business Insider: The burgeoning battery-recycling startup Ascend Elements is sitting on a fresh $800 million. Founded in 2015 in Westborough, Massachusetts, Ascend Elements says its tech can get car companies and their battery-makers the materials they need at a lower cost and in a more sustainable way than those made with metals just pulled from the earth.

Investors from Fifth Wall and car-industry giants just poured $300 million into the booming recycling firm racing to solve automakers’ biggest electric-vehicle-battery supply problem. The company’s Series C, which includes $200 million in equity investments and $100 million in debt financing, accompanies the two grants Ascend just received from the Department of Energy totaling $480 million. Read more at Business Insider.

CEO Mike O’Kronley talked with Alexa St. John for an exclusive interview about the company’s $300 million funding round.

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