A recycling facility will be built in Kentucky to shred electric vehicle batteries in a $65 million venture. The facility in Hopkinsville will create about 60 jobs.
SK ecoplant will be the majority owner, holding 64% of the new joint venture, with Ascend Elements owning 25% and TES owning 11%, according to the release. Since 2022, SK ecoplant has invested more than $60 million in Massachusetts-based Ascend Elements.
The new facility each year will produce about 12,000 metric tons of black mass — a powder that contains the valuable cathode and anode materials inside an electric vehicle battery, the company said. Ascend Elements said it recently closed a $542 million funding round and received $480 million in U.S. Department of Energy grant awards to accelerate construction of the Apex 1 project. Ascend Elements also has a battery recycling facility in Covington, Georgia, and a battery laboratory in Novi, Michigan.“We’ve become the EV battery capital of the United States of America and the jobs keep pouring in,” Kentucky Gov. Andy Beshear said in a social media video Tuesday.
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