Ascend Elements, Inc.
About Ascend Elements, Inc.
Company overview
Ascend Elements is a sustainable battery materials company delivering closed-loop solutions from EV battery recycling to engineered cathode precursor (pCAM) production. Leveraging its Hydro-to-Cathode direct precursor synthesis technology, Ascend Elements transforms spent lithium-ion batteries into high-purity lithium carbonate and cathode materials with significantly reduced greenhouse gas emissions. Product Breakdown Ascend Elements offers a vertically integrated suite of products and services: Battery Recycling & Raw Recovery: Through its recycling facility in Covington, GA, the company processes up to 30,000 metric tons of end-of-life batteries annually, efficiently recovering critical metals such as lithium, nickel, cobalt, and manganese into usable feedstocks. Lithium Carbonate: Produced from recycled sources with >99% purity for use in lithium-ion battery manufacturing lines. Cathode Precursor / Active Materials (pCAM/CAM): Engineered cathode materials derived from spent batteries using Hydro-to-Cathode synthesis, enabling cleaner and more efficient EV battery manufacturing. These materials are tailored to OEM specifications and are supplied at commercial scale. Sustainability Compliance & Lifecycle Services: Environmental lifecycle assessments showcase up to a ~49% carbon emissions reduction compared to traditional cathode manufacturing; the company maintains rigorous sustainability frameworks and reporting standards.
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Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
Employee Figures
Key Executives
See All401K
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Series B — 2023-05-01
- Expansion financing for product launch.
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