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MegadealsSubsidy Tracker Individual Entry
Company: Ascend Elements
Parent Company:
Subsidy Source: federal
State in Which Facility Is Located: Kentucky
Project Description: Ascend Elements will plan, design, and construct a cathode active materials (CAM) plant at a greenfield site in Hopkinsville, Kentucky, and install all manufacturing equipment. The CAM plant will consist of a manufacturing building and the processing equipment necessary to convert precursor materials into CAM, the highest value component in a lithium-ion battery. Using established and approved processes for building new manufacturing plants, Ascend Elements will design and procure the manufacturing equipment needed based on its operational manufacturing pilot plant in Novi, MI, install the equipment, and bring the CAM plant to full production by the end of the 36- month project period, producing enough material to supply more than 250,000 electric vehicles annually.
Year: 2022
Subsidy Value: $164,395,625
Program Name: Bipartisan Infrastructure Law: Battery Materials Processing and Battery Manufacturing & Recycling Funding
Awarding Agency: Department of Energy
Type of Subsidy: federal grant
Number of Jobs or Training Slots: 130
Capital Investment: $164,395,625
Source of Data:
(click here)
Notes: Year is year of award announcement. Subsidy value is federal portion of project cost. Jobs are new jobs to be created.
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