FRANKFORT, Ky. (AP) — Ascend Elements Inc. will invest $310 million in a new Kentucky plant, creating 250 full-time jobs in Christian County.
Ascend produces advanced, sustainable battery materials from recycled lithium-ion batteries. The plant will produce enough recycled battery precursor and sustainable cathode active materials to equip up to 250,000 electric vehicles annually, Gov. Andy Beshear's office said Monday.
There is potential to increase to $1 billion in investment and a total of 400 full-time jobs with later phases, which would be the Westborough, Massachusetts-based company's largest U.S. operation.
The state approved a 15-year incentive agreement that can provide up to $7.5 million in tax incentives and additionally approved up to $2 million in sales and use tax incentives.
The 450,000-square-foot (41,806-square-meter) facility will be on 140 acres (56 hectares) in Hopkinsville's Commerce Park II.