The Ministry of Economic Development and Technology in Poland today offered Ascend Elements up to USD $320 million to support construction of a sustainable precursor cathode active material (pCAM) manufacturing facility in Poland. pCAM is a high-value, precisely engineered material used in the manufacture of lithium-ion batteries for electric vehicles and other advanced industrial applications. The cash subsidy of 1.22 billion Polish Zloty (PLN) is one of the largest grants ever offered by the Republic of Poland. As part of the E.U.’s Temporary Crisis and Transition Framework (TCTF), the grant is designed to support Europe’s transition to a net-zero economy.
“This offer of support from the Polish government marks a significant step forward in Ascend Elements’ European growth strategy,” said Linh Austin, President and CEO at Ascend Elements. “We are committed to building a sustainable battery materials supply chain on both sides of the Atlantic, and we greatly appreciate the Ministry’s offer of significant financial support.”
Ascend Elements has already identified a location in Poland for the construction of its first advanced battery materials (pCAM) manufacturing facility in Europe. CEO Linh Austin met with Poland’s Secretary of State Michał Jaros at the Polish Ministry of Economic Development and Technology in Warsaw on Wednesday to receive the grant offer.
“Battery sector projects are a key part of PAIH’s investment portfolio,” said Pawel Pudlowski, Ph.D., Vice President of the Management Board at the Polish Investment and Trade Agency (PAIH). “The Ascend Elements project is one of the largest U.S. investments in recent years, strengthening Poland’s role in the battery supply chain and supporting regional development, including technology development and cooperation with local educational institutions.”
Ascend Elements plans to commercialize its innovative technology for the manufacture of sustainable nickel, manganese, and cobalt (NMC) pCAM made from recycled lithium-ion battery materials at the new facility in Poland.
“We are deeply grateful for the support of the Polish government and thrilled to expand our presence in Europe,” said Tomasz Poznar, Ph.D., Senior Vice President of Commercial at Ascend Elements.
