Ascend Elements - About the company
Ascend Elements is a series D company based in Westborough (United States), founded in 2015 by Yan Wang, Diran Apelian and Eric Gratz. It operates as a Manufacturer of engineered materials from recycled lithium-ion batteries and battery scrap. Ascend Elements has raised $1.1B in funding from investors like Qatar Investment Authority, BlackRock and Temasek, with a current valuation of . The company has 96 active competitors, including 36 funded and 13 that have exited. Its top competitors include companies like Redwood Materials, Anaphite and Mitra Chem.
Sectors and market segments that Ascend Elements operate in
Ascend Elements serves in the Energy Tech, Environment Tech, Sustainability Tech market segments.The primary business model of Ascend Elements are:Company Details
Manufacturer of engineered materials from recycled lithium-ion batteries and battery scrap. The company utilizes a direct precursor synthesis process to transform discarded batteries and manufacturing scrap into active cathode battery material. This process recovers critical elements for reuse in lithium-ion battery manufacturing. The company provides logistics, material-tracking, and customer support services.
- Website
- ascendelements.com
- Social
- Email ID
- *****@ascendelements.com
- Phone Number
- +1 **********
Key Metrics
Founded Year
2015
Location
Westborough, United States
Stage
Series D
Total Funding
$1.1B in 13 rounds
Latest Funding Round
Investors
Ranked
7th among 96 active competitors
Employee Count
167 as on Mar 31, 2026
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Legal entities associated with Ascend Elements
Ascend Elements is associated with 3 legal entities given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
ASCEND ELEMENTS, INC. CIN: 6363103 , United States, Active | Mar 27, 2017 | - | 262 (As on Dec 31, 2024) | - |
AVSF - Ascend Elements 2023, LLC CIN: 1973942 , United States, Active | $1 - $1M (As on Apr 20, 2023) | - | - | |
ASCEND ELEMENTS, INC. CIN: 82-2222893 , United States, Active | Mar 26, 2017 | - | 87 (As on Dec 31, 2022) | - |
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Ascend Elements's funding and investors
Ascend Elements has raised a total funding of $1.1B over 13 rounds. Its first funding round was on Nov 02, 2016. Its latest funding round was a Grant (prize money) round on Feb 27, 2025 for an undisclosed amount. 1 investor participated in its latest round. Ascend Elements has 32 institutional investors.
Here is the list of recent funding rounds of Ascend Elements:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Feb 27, 2025 | Undisclosed | Grant (prize money) | - | - | - | |
Feb 20, 2024 | $162M | Series D | - | - | ||
Sep 06, 2023 | $460M | Series D | - | - |
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Ascend Elements' founders and board of directors
Founder? Claim ProfileHere are the details of Ascend Elements' key team members:
- Yan Wang: Co-Founder of Ascend Elements. They serve on the board of 1 company.Contact Info: 1 email address
- Diran Apelian: Co-Founder of Ascend Elements.
- Eric Gratz: Co-Founder & CTO of Ascend Elements and founder of 1 other company. Contact Info: 2 email addresses
Ascend Elements' Board of Directors
Ascend Elements's board has 1 active member. Michael Collins is independent board member.Here is the list of Ascend Elements' board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Independent board member | - | Current | 3y 0m |
View details of Ascend Elements's Founder profiles and Board Members
Ascend Elements' employee count trend
Ascend Elements has 167 employees as of Mar 26. Here is Ascend Elements's employee count trend over the years:
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Ascend Elements's Competitors and alternates
Top competitors of Ascend Elements include Redwood Materials, Anaphite and Mitra Chem. Here is the list of Top 10 competitors of Ascend Elements, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Redwood Materials 2017, Carson City (United States), Series E | Provider of repurposed battery packs for modular energy storage systems | $2.29B | 65/100 | |
2nd | _1579662069132.png?devicePixelRatio=2&height=30&width=30){kind=logo} Anaphite 2016, Bristol (United Kingdom), Series A | Developer of dry coating precursor technology for battery electrode manufacturing | $22.6M | 63/100 | |
3rd |  Mitra Chem 2021, Palo Alto (United States), Series B | Manufacturer of materials for energy, artificial intelligence, and defense applications | $95.6M | 63/100 | |
4th | Nyobolt 2019, London (United Kingdom), Series B | Developer of battery technology for high-power, integrated energy systems | $101M | 63/100 | |
5th | Mangrove Lithium 2013, Delta (Canada), Series B | Developer of modular scalable lithium refining technology for battery‑grade production | $46.5M | 62/100 | |
6th |  Altilium 2020, London (United Kingdom), Series B | Developer of technology for recycling electric vehicle batteries into battery materials | $43.5M | 62/100 | |
7th |  Ascend Elements 2015, Westborough (United States), Series D | Manufacturer of engineered materials from recycled lithium-ion batteries and battery scrap | $1.1B | 60/100 | |
8th |  Aqua Metals 2013, Reno (United States), Public | Provider of battery recycling solutions | $6M | 59/100 | |
9th | Developer of nanotech-based energy storage components | - | 58/100 | ||
10th |  Circunomics 2019, Mainz (Germany), Series A | Waste management services for electric vehicle batteries | $10.4M | 58/100 |
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Ascend Elements's Investments and acquisitions
Ascend Elements has made no investments or acquisitions yet.
News related to Ascend Elements
Filter this listMedia has covered Ascend Elements for a total of 9 events in the last 1 year, 5 of them have been about company updates and 1 about partnerships.
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Battery Recycler with Plant East of Atlanta Files for BankruptcyMetro Atlanta CEO•Apr 13, 2026•Ascend Elements
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Ascend Elements announces off-take agreement with Trafigura for lithium carbonateChemengonline•Nov 13, 2025•Ascend Elements, Trafigura
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DOE cancels $720M in battery, recycling, and insulation manufacturing awardsTechCrunch+•Oct 20, 2025•Anovion, Ascend Elements, LuxWall
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Ascend Elements and GEM to Explore Battery Recycling and Materials Collaboration in EuropePR Newswire•Sep 17, 2025•GEM, Ascend Elements
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Ascend Elements Board of Directors Appoints Seasoned Energy Industry Executive Linh Austin to Serve as President and CEOMiningstockeducation•Mar 20, 2025•Ascend Elements
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