Ascend Elements Named to Fast Company's Annual List of the World's Most Innovative Companies of 2024

Sustainable electric vehicle battery materials company ranked #1 in Automotive category.

WESTBOROUGH, Mass., March 19, 2024 /PRNewswire/ -- For the second year in a row, Ascend Elements has been named to Fast Company's prestigious list of the World's Most Innovative Companies. The fast-growing EV battery materials company earned the #1 ranking in Fast Company's Automotive category for the 2024 list. Other top brands on the global list include Nvidia, YouTube and Taco Bell.

This year's list shines a spotlight on businesses that are shaping industry and culture through innovation. These organizations are setting new standards and achieving remarkable milestones in all sectors of the economy. Alongside the World's 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions. The World's Most Innovative Companies stands as Fast Company's hallmark franchise and one of its most anticipated editorial efforts of the year.

"It's an honor to be recognized by Fast Company as one of the World's Most Innovative Companies for the second year in a row," said Mike O'Kronley, CEO of Ascend Elements. "With our ultra-efficient Hydro-to-Cathode® process, we have an opportunity to make new EV battery materials, and new EVs, far cleaner than they are today."

Ascend Elements is commercializing its Hydro-to-Cathode® direct precursor synthesis process with construction of a $1 billion manufacturing facility in Hopkinsville, Ky. Using recycled lithium-ion battery materials and gigafactory scrap as feedstock, the Hydro-to-Cathode® process eliminates several intermediary steps in the traditional cathode manufacturing process and provides significant economic and carbon-reduction benefits. 

Fast Company's editors and writers identified the companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world. Fast Company's Most Innovative Companies ranking is available online and on newsstands beginning March 26.

Based in Westborough, Mass., Ascend Elements is a leading provider of sustainable, closed-loop battery material solutions. From EV battery recycling to commercial-scale production of lithium-ion battery precursor (pCAM) and cathode active materials (CAM), Ascend Elements is revolutionizing the production of sustainable lithium-ion battery materials.

SOURCE Ascend Elements