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Battery Recycler Ascend Elements Files for Chapter 11 as EV Slowdown and Grant Loss Bite
Key Takeaways
- Ascend Elements entered Chapter 11 despite having raised nearly $900 million.
- The company was hit by a softer U.S. EV market and cancellation of a major federal grant.
- Its bankruptcy highlights the difficulty of scaling battery recycling in a volatile market.
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DT Editorial Team··via techcrunch.com
