Ascend Elements, a Westborough-based firm which produces electric vehicle components from recycled batteries, has signed a memorandum of understanding with a firm based in China to explore potential collaboration in Europe.
Ascend signed the MOU with GEM Co., a Shenzhen-based firm among the 500 largest employers in China, according to its website. The firm was founded in 2021 and recycles waste products, including batteries and other electronic waste, into components for new products.
The two firms signed the MOU in an attempt to help advance Europe’s local battery material ecosystem, utilizing GEM’s experience in the field with Ascend’s established European presence, according to a Wednesday press release announcing the agreement. The goal of the agreement is to create a localized and circular supply chain meeting market demands and staying compliant with European Union regulations. Financial terms were not disclosed.
Ascend has established a growing presence in Poland and has plans for a facility in Germany.
“This collaboration allows us to de-risk our very ambitious European strategy due to GEM’s mass production expertise and accelerate our ability to offer the missing capabilities in Europe,” Linh Austin, president and CEO of Ascend Elements, said in the press release. “We are delivering a fully integrated, localized battery industrial ecosystem that addresses both sustainability and regulatory requirements, while supporting the energy transition and driving economic value.”
Austin, a former executive at energy firms BP and McDermott International, was named CEO and president of Ascend in March.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
