US battery recycler Ascend Elements files for bankruptcy

金十2026/04/10 00:36

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Golden Ten Data reported on April 10 that US battery recycling startup Ascend Elements has announced it will file for bankruptcy protection on Thursday. Since its founding in 2015, this Massachusetts-based company has raised over $1.1 billion in equity and grants, and has specialized in recycling used batteries into cathode materials at a factory in Georgia. However, CEO Austin stated in a statement that the company's financial challenges are insurmountable and it has voluntarily initiated Chapter 11 bankruptcy protection proceedings. This climate-focused startup flourished during the Biden administration, but as interest in electric vehicles has waned, the company has also faced difficulties. During the Trump administration, the majority of funding was directed towards industries such as geothermal and nuclear energy, which benefited from the construction of data centers.

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华尔街见闻•2026/11/13 07:48