Republic of Poland Offers Up to USD $320 Million to Support Construction of Lithium-ion Battery Materials Plant in Poland
Summary
pCAM is a high-value, precisely engineered material used in the manufacture of lithium-ion batteries for electric vehicles and other advanced industrial applications. As part of the E.U.s Temporary Crisis and Transition Framework (TCTF), the grant is designed to support Europes 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. CEO Linh Austin met with Polands Secretary of State Micha 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 PAIHs 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 Polands 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. By bringing our advanced Hydro-to-Cathode\xae technology to Poland, we aim to help bridge the growing gap in cathode precursor supply and contribute to the EUs strategic net-zero goals by building a sustainable circular battery materials supply chain in the region.The companys Hydro-to-Cathode\xae direct pCAM synthesis technology produces new NMC pCAM material from spent lithium-ion cells more efficiently than traditional methods, resulting in improved economics and lowered carbon emissions.