Less than an hour following the completion of Wednesday’s South Western Kentucky Economic Development Council Appreciation Luncheon in Hopkinsville, officials from Ascend Elements received even more good news — when Governor Andy Beshear announced the advanced, sustainable battery material producer has been approved for more than $480 million through two federal grants from the U.S. Department of Energy.
A ground-breaking planned for Thursday morning, Ascend Elements makes its EV components through the recycling of lithium-ion batteries. Beshear said these federal funds will help propel a “nationwide effort” to grow the U.S. electric vehicle battery manufacturing industry, while creating “good-paying” jobs.
Specifically, Ascend Elements was approved for two grants with a federal cost share of more than $316 million for materials separation and processing, and more than $164 million for component manufacturing.
Wednesday’s announcement leverages nearly $1 billion to increase production of EV battery materials in Kentucky.
Founded in 2015 and based in Westborough, Massachusetts, Ascend Elements is locating its Christian County operation known as “Apex 1” behind a $310 million Phase 1 investment with 250 full-time jobs. The potential of the project has a $1 billion ceiling with 400 full-time jobs.
Since June 2020, Kentucky has seen more than $9.2 billion in EV-related investments, with more than 8,500 full-time jobs announced by companies within the industry.
