SINGAPORE, September 29, 2023 – U.S.-based Ascend Elements is partnering with South Korea-based SK ecoplant and its e-waste recycling subsidiary, TES, to build a $65 million lithium-ion battery recycling facility in Hopkinsville, Kentucky.
The 100,000-square-foot EV battery recycling facility will disassemble and shred approximately 24,000 metric tons of used EV batteries and gigafactory scrap per year—around 56,000 EV batteries annually. Construction is scheduled to begin in November 2023, with completion in January 2025.
SK ecoplant will be the majority owner (64%), with Ascend Elements owning 25% and TES 11% of the joint venture. Since 2022, SK ecoplant has invested more than $60 million in Ascend Elements.
Mike O'Kronley, CEO of Ascend Elements, said, “We are honored to deepen our relationship with SK ecoplant on this new, state-of-the-art EV battery recycling facility.”
“This is just the beginning of an entirely new industry in the United States. For every new EV battery gigafactory that is built, we will need to build a new battery recycling facility to process manufacturing scrap and end-of-life batteries. This is a capital-intensive endeavor, so joint ventures between strategically aligned partners is an ideal way to fund new infrastructure projects.”
The new facility will create approximately 60 jobs and produce about 12,000 metric tons of black mass per year—a fine powder containing valuable cathode and anode materials from EV batteries. This output will supply Ascend Elements’ nearby Apex 1 facility, currently under construction in Hopkinsville, KY.
When operational in 2024, the $1 billion Apex 1 project will be North America’s first sustainable cathode precursor (pCAM) and cathode active material (CAM) manufacturing facility. At full capacity, it will produce enough pCAM for approximately 750,000 new EVs per year.
CAM and pCAM are engineered materials made to precise specifications for EV batteries. While most are made in China from mined metals, Ascend Elements is commercializing a method to make sustainable materials from black mass using its patented Hydro-to-Cathode® direct precursor synthesis process. This process eliminates intermediary steps, offering economic and carbon-reduction benefits. Peer-reviewed studies show that these recycled materials perform comparably to those made from virgin sources, while reducing emissions by up to 93%.
Ascend Elements recently secured $542 million in funding and received $480 million in U.S. Department of Energy grants to accelerate the Apex 1 project. It also operates Base 1, one of North America’s largest EV battery recycling facilities, in Covington, Georgia.
About SK ecoplant
SK ecoplant is the environment and energy arm of the SK Group and leads the group’s ESG-focused initiatives. Through digital transformation and AI, SK ecoplant is modernizing its operations and expanding globally from its Southeast Asia base.
It has grown rapidly in the waste battery recycling and renewable energy sectors, including hydrogen, fuel cells, offshore wind, and solar power. SK ecoplant remains committed to ESG-oriented growth, aiming for zero waste and net-zero emissions through a circular economy approach.
