Click allow to get notifications on every article we post. Contact online >>
Click allow to get notifications on every article we post.
Westborough, Massachusetts, Doha - September 6, 2023 — Qatar Investment Authority (QIA) has invested in Ascend Elements, a US-based manufacturer of sustainable, engineered battery materials for electric vehicles, who today announced it has raised $550 million in new equity investments, including $468 million in Series D investments and $82 million of additional investments from earlier this year.
Ascend Elements'' Series D round was led by Decarbonization Partners, Temasek, and Qatar Investment Authority (QIA). Other investors include PIMCO, Tenaska, Alliance Resource Partners, Merit France, JM Family Enterprises, BHP, Samsung, Fifth Wall, Oman Investment Authority, Hitachi Ventures, Mirae Asset Capital & LS, At One Ventures, Agave Partners and Alumni Ventures.
The $468 million Series D investment is one of the largest cleantech equity private placements in the United States in 2023, and one of the top 10 equity private investments in the United States this year.
Ascend Elements patented Hydro-to-Cathode™ process manufactures battery materials using the valuable elements reclaimed and recycled from used lithium-ion batteries. The process transforms discarded batteries and manufacturing scrap into active cathode battery material – raising the value of critical elements like lithium, cobalt, and nickel – while driving down cost and carbon emissions.
Several peer-reviewed studies have shown Ascend Elements'' recycled battery materials perform as well as similar materials made from virgin (or mined) sources while reducing carbon emissions by up to 93%.
"We are pleased to be investing in Ascend Elements, a proven leader in the manufacturing of engineered battery materials, and a key partner in QIA''s efforts to fund the global energy transition," said Mohammed Al-Sowaidi, Chief Investment Officer, Americas at Qatar Investment Authority. "For QIA, this investment follows on from other commitments in the space, including our investment in Xpeng, the electric vehicle manufacturer, Fluence, to accelerate the growth of large-scale battery-based energy storage, and Enel Green Power to build and operate renewable plants in Sub-Saharan Africa."
Doha: The world today faces calamitous consequences of decreased fossil fuel reserves headed towards their gradual depletion. The energy crisis and the associated environmental pollution have caused a profound interest in the efficient utilisation of renewable energy resources.
To fully harness the potential of renewable energy sources, the world needs high-performance energy storage devices — successful contributions ranging from portable electronics to electric vehicles (EVs) and smart grid stations (SGs).
This has led to a new priority research area at the Center for Advanced Materials (CAM) at Qatar University (QU). In order to further explore the opportunities and expected future applications, active research on the design, development, and characterisation of energy storage materials is in progress at CAM under the leadership of Dr. Abdul Shakoor.
The battery research group at CAM is oriented towards developing cost-effective energy storage materials utilising microwave-assisted synthesis techniques. The objective of this modified synthesis technique is to substantially reduce the cost of batteries, facilitating easy commercialisation of these batteries.
Recently, a team of researchers at CAM published new articles in the Journal of Alloys and Compounds and in the Journal of Applied Surface Science.
More importantly, high voltage cathode materials (Li2NiPO4F) targeting (~ 6.0 V) well suited to Qatar climate (550C) have also been through a novel synthesis process, which is accepted/considered for US patent. The research group has published more than 25 journal articles on synthesising and characterisation of various cathode/anode materials for lithium/sodium ion batteries, in addition to a book chapter. The research group has obtained the fund required for this research through projects supported by QU and the Qatar National Research Fund (QNRF).
This applied research is in progress through various funded projects, mainly including "Optimization of high voltage cathodes and electrolytes of lithium-ion batteries for grid applications in Qatar climate conditions," "MXene decorated cathode materials for high-performance energy storage applications," Advanced high voltage (~ 6.0 V) mixed anion fluorophosphate materials (Li2MPO4F) and MXene-based cathode/anode, which are developed and characterised owing to their promising performance. The promising electrochemical performance of the materials developed at CAM have enabled the team to produce full cylindrical cells to fabricate small battery packs for commercial applications.
The highly motivated research team, led by Dr. Abdul Shakoor at CAM, includes Zawar Qureshi (research assistant), Buzaina Moossa (graduate student), R.A. Harindi Gayara (graduate student), and undergraduate students Abdul Moiz Ahmed, Ahsan Ishtiaq Qureshi, Muntaha Elsadig Siddig Ali and others.
The team at CAM is also actively collaborating with Prof. Siham Al Qaradawi, Professor of Organic Chemistry at QU''s College of Arts and Sciences, and Prof. Ramazan Kahraman, Professor of Chemical Engineering at QU''s College of Engineering, to understand the charge/discharge behaviour of developed cathodes/anodes in order to improve the performance of the batteries. The team is diligently trying to create a unique and cost-effective synthesis process, in addition to novel chemistries of electrode materials to fulfil the future energy requirement and widen the scope of application of batteries, resulting in a cleaner sustainable society, as promised in Qatar National Vision 2030.
The research team at CAM has collaborated with Instituto Superior Técnico (IST), Lisbon, Portugal. Around 60% of the scientific publications at IST involve international collaborations with researchers from highly reputed research organizations. At IST, the research strategy spans from creative fundamental research to innovative applied solutions carrying the potential to be transferred to the industry. Their mission is to contribute to socio-economic development by delivering cutting-edge research outcomes, innovative products and solutions, and hands-on with the industry.
Developing high-performance novel energy storage materials for industrial applications is at the core of research streams at IST. These activities strongly contribute to raising their cooperation with different partners from the research and industry sectors. The series of collaborative projects on energy storage materials between QU and IST has proven the implementation of international collaboration between both institutions.
About Lithium-ion battery technology doha
As the photovoltaic (PV) industry continues to evolve, advancements in Lithium-ion battery technology doha have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Lithium-ion battery technology doha for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Lithium-ion battery technology doha featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
