Companies · Climate / Cleantech

Ascend Elements, Inc.

WESTBOROUGH · Climate / Cleantech · refined from filed group “Other Technology · https://ascendelements.com/

Diligence memoA one-page analyst read on Ascend Elements, Inc. — recommendation, valuation, rhythm, risks.
$692.7M
Total raised · real
5
Rounds
5.8×
Latest step-up
Top 5%
Sector rank · raised
Growth/Late
Latest stage · inferred · Tue Aug 22 2023 00:00:00 GMT+0000 (Coordinated Universal Time)

Ascend Elements, Inc. has raised $693M over 5 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the climate/enviro sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

At-risk
  • Last raise 2.9 yr ago; this sector typically re-raises about every 9 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Climate / Cleantech

Ascend Elements, Inc. is one of 207 Climate / Cleantech companies tracked from WESTBOROUGH. By capital raised it ranks among the largest (ahead of 96% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Ascend Elements manufactures advanced battery materials using valuable elements reclaimed from discarded lithium-ion batteries. Our patented Hydro-to-Cathode process transforms todays waste into high-value materials for tomorrow's EV batteries a giant step up the entire industry.

Ascend Elements manufactures advanced battery materials using valuable elements reclaimed from discarded lithium-ion batteries. Our patented Hydro-to-Cathode process transforms todays waste into high-value materials for tomorrow's EV batteries a giant step up the entire industry. Ascend Elements manufactures advanced battery materials using valuable elements reclaimed from spent lithium-ion batteries. Our Hydro-to-Cathode® direct cathode precursor (pCAM) synthesis process transforms today’s waste into high value materials for tomorrow’s EV batteries – a major advancement for the entire industry. We are building North America and Europe’s domestic supply of critical minerals through “urban mining” and innovative battery materials technologies – an infrastructure that retains critical minerals in-country for supply chain security. We produce high-performance, engineered battery materials using the valuable elements found in end-of-life batteries and manufacturing scrap. Join us in elevating the performance, security, and reliability of domestic battery materials with the first pCAM production in North America and the first refined pCAM production in Europe. Fast Company ranks Ascend

climate/cleantechmobility
Find Ascend Elements, Inc. online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
19
Investors (latest)
2023-08-22
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeries B · 2021-03-17 Raised $21M (real) Modeled valuation $411M (est)$21M$411MSeries B2021Series B · 2021-08-31 Raised $30M (real) Modeled valuation $499M (est)$30M$499MSeries B2021Series B · 2021-08-31 Raised $27M (real) Modeled valuation $450M (est)$27M$450MSeries B2021Series D+ · 2022-07-19 Raised $101M (real) Modeled valuation $1.6B (est)$101M$1.6BSeries D+2022Series D+ · 2022-12-29 Raised $80M (real) Modeled valuation $1.1B (est)$80M$1.1BSeries D+2022Growth/Late · 2023-08-22 Raised $460M (real) Modeled valuation $6.6B (est)$460M$6.6BGrowth/Late2023+$30M+$27M+$101M+$80M+$460MCumulative $720M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series B$21.4M · 2021
Series B extension$30.0M · 2021
Series B extension$27.1M · 2021
Series D+$101.3M · 2022no Series C on file
Series D+ extension$80.0M · 2022
Growth/Late$460.1M · 2023

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 43%.

Modeled valuation trajectory
$6.6B
Base estimate est.
$3.3B
Conservative case
$9.0B
Upside case
$4.6B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Growth/Latea round over $400M). Valuation is modeled from stage benchmarks scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Series B · modeled $411.4M · 2021-03-172021Series B · modeled $498.6M · 2021-08-31Series B · modeled $450.4M · 2021-08-31Series D+ · modeled $1.6B · 2022-07-19Series D+ · modeled $1.1B · 2022-12-29Growth/Late · modeled $6.6B · 2023-08-222023
Model inputs · modeled:benchmark-stage-stepup-v1
10%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
72% low · 89% high
1.21×/yr
Annual markup
1.32×/yr upside case
2.9 yr
Elapsed time used
2.9 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
6 mo
Avg between rounds
$284.9M/yr
Capital velocity
5.3 yr
On record since
2021
First round
6
Rounds on file
How it compares to the market

Benchmarked against 207 companies in Climate / Cleantech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 86× above median
This company$692.7M
Sector median$8.1M
Latest round — vs other Growth/Late rounds in sector (real $, this stage) 0.7× of median
This company$460.1M
Sector median$700.0M
Modeled value — vs sector median (estimate, all stages) 110× above median
This company$6.6B
Sector median$59.7M

Raised more than 96% of sector peers (real $). Modeled value above 95% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Growth/Late) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful.

This companyCohort peer
$1.0B$10.0B$100.0B$100.0M$1.0B$10.0BCapital raised (log)Solar Holdco, Inc. · Growth/Late Raised $1.6B · modeled $18.0B (est)Brave Topco, Inc. · Growth/Late Raised $690.6M · modeled $12.2B (est)Sila Nanotechnologies, Inc. · Growth/Late Raised $1.3B · modeled $4.5B (est)Ascend Elements, Inc. (this company) Raised $692.7M · modeled $6.6B (est)Ascend Elements, Inc.
CompanyStageRaised · realValue · estvs peer med.
Solar Holdco, Inc.Growth/Late$1.6B$18.0B1.92×
Brave Topco, Inc.Growth/Late$690.6M$12.2B1.30×
Ascend Elements, Inc. this companyGrowth/Late$692.7M$6.6B0.70×
Sila Nanotechnologies, Inc.Growth/Late$1.3B$4.5B0.48×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series B$21.4M2021-03-17$118.6M$411.4M90%
Series B$30.0M2021-08-31$166.7M$498.6M90%
Series B$27.1M2021-08-31$150.6M$450.4M90%
Series D+$101.3M2022-07-19$844.2M$1.6B90%
Series D+$80.0M2022-12-29$666.7M$1.1B90%
Growth/Late$460.1M2023-08-22$4.6B$6.6B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series B$21.4M2021-03-17
    • First recorded raise — entered as Series B.
    • 34 investors on this round.
  2. Series B$30.0M2021-08-31
    • Raised 5 mo later, in step with the ~9 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 10 investors on this round.
  3. Series B$27.1M2021-08-31
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round roughly the size of the prior one.
    • 9 investors on this round.
  4. Series D+$101.3M2022-07-19
    • Raised 11 mo later, in step with the ~9 mo sector norm.
    • Round 3.7× larger than the prior — scaling up.
    • 17 investors on this round.
  5. Series D+$80.0M2022-12-29
    • Came back fast: 5 mo vs the ~9 mo sector norm.
    • Round roughly the size of the prior one.
    • 3 investors on this round.
  6. Growth/Late$460.1M2023-08-22
    • Raised 8 mo later, in step with the ~9 mo sector norm.
    • Round 5.8× larger than the prior — scaling up.
    • 19 investors on this round.
Intelligence
2024 ~Q1
Modeled next raise · ~6mo cadence
$1.4B
Modeled next size est.range $897.2M$2.2B
5.8×
Last step-up
$284.9M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Sherwin Prior5 other2021-03
Faysal Sohail3 other2022-12
Laurie Menoud3 other2021-03
Christina Choi1 other2022-12
Eitan Dekel1 other2021-08
Yan Wang1 other2021-03
Andrew Aberdale2021-03
B.K. Ako-Asare2023-08
Diran Apelian2021-03
Kelly Kay2021-08
Michael O'Kronley2021-03
Registry & provenance

Ascend Elements, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1854865
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Brave Topco, Inc.Climate / CleantechGrowth/Late$690.6M$12.2Bsame sector · same stage
AIT Group Holdings, LPClimate / CleantechGrowth/Late$699.5M$15.7Bsame sector · same stage
Carbon Analytics Holdings LLCClimate / CleantechGrowth/Late$662.5M$17.2Bsame sector · same stage
E2open Parent Holdings, Inc.Climate / CleantechGrowth/Late$895.0M$20.7Bsame sector · same stage
Samsara Networks Inc.Climate / CleantechGrowth/Late$915.0M$18.2Bsame sector · same stage
Mavis Tire Express Services TopCo, L.P.Climate / CleantechGrowth/Late$949.0M$20.5Bsame sector · same stage
Solar Topco, Inc.Climate / CleantechGrowth/Late$418.7M$10.9Bsame sector · same stage
Sila Nanotechnologies, Inc.Climate / CleantechGrowth/Late$1.3B$4.5Bsame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Ascend Industries, LLCManufacturingPre-Seed$7.2M77%
Surge Battery Metals Inc.Climate / CleantechPre-Seed$666K76%
Battery X Metals Inc.Climate / CleantechPre-Seed$210K76%
Battery Grade Materials, Inc.ManufacturingPre-Seed$4.6M75%
Battery Metals, Inc.Climate / CleantechSeries A$18.2M75%
Maple Materials
We turn CO2 into battery-grade graphite and oxygen.
Climate / Cleantech74%
Critical Elements Lithium CorpMining & ResourcesPre-Seed$688K74%
Form Energy, Inc.
Form Energy is an American company driving innovation in energy manufacturing and technology to ensure a clean, secure, and reliable electric grid.
Climate / CleantechSeries D+$5.1B74%
Frequently asked
How much funding has Ascend Elements, Inc. raised?
Ascend Elements, Inc. has raised approximately $692.7M in disclosed capital across 5 recorded financing rounds, aggregated from public filings.
What is Ascend Elements, Inc.'s estimated valuation?
Provath's modeled valuation for Ascend Elements, Inc. is approximately $6.6B (modeled range $3.3B–$9.0B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Ascend Elements, Inc. at?
Ascend Elements, Inc.'s latest modeled financing stage is Growth/Late. Its most recent recorded round closed around Tue Aug 22.
What does Ascend Elements, Inc. do and where is it based?
Ascend Elements, Inc. operates in the Climate / Cleantech sector, based in WESTBOROUGH. Ascend Elements manufactures advanced battery materials using valuable elements reclaimed from discarded lithium-ion batteries. Our patented Hydro-to-Cathode process transforms todays waste into high-value materials for tomorrow's EV batteries a giant step up the entire industry.
Explore related

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