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New Deal


Announced

Ascend Elements and Elemental Strategic Metals to form AE Elemental.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Poland

battery recycling

Cross Border

Electronic Equipment: Other

Acquisition

Majority

Pending

Single Bidder

Private

Joint Venture

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Synopsis

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Ascend Elements, a manufacturer of advanced battery materials, and Elemental Strategic Metals, a recycling powerhouse, agreed to form AE Elemental, an electric vehicle battery recycling joint venture. Financial terms were not disclosed. “The AE Elemental JV is a significant milestone for Ascend Elements, representing our first commercial-scale battery recycling facility in Europe. We’re pleased to be working closely with Elemental Strategic Metals. Expanding into Europe will allow us to better service our customers locally and help the industry comply with new EU rules requiring recycled material in new batteries. This is a perfect time to expand our operations," Mike O’Kronley, Ascend Elements CEO.

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