A partnership between BlackRock Inc. BLK and Singapore-based Temasek on Wednesday said they led a $460 million Series D funding round for electric vehicle battery maker Ascend Elements Inc. Decarbonization Partners, which is made up of BlackRock and Temasek, said Westborough, Mass.
-based Ascend Elements has raised $542 million in funding in 2023 as it grows its business as a recycler of lithium-ion batteries. The funding will support the company’s new plant in Kentucky, which is expected to generate 400 full-time jobs over the construction period and first 10 years.
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