As demand for lithium-ion batteries continues to increase, those looking for growth stocks have taken a keen interest in how to invest in Ascend Elements stock and similar stocks. Since its founding in 2015, Ascend Elements has been developing a closed-loop system for lithium-ion battery production. The company sources materials from spent lithium-ion batteries and uses them to produce new batteries.
With electric vehicles representing the greatest force behind growing demand, the lithium-ion battery market is expected to increase considerably in value. According to research firm McKinsey & Co., the lithium-ion battery value chain -- from the mining of battery materials to the recycling of spent batteries -- will grow from about $85 billion in 2022 to more than $400 billion in 2030.
In 2023, Ascend Elements announced that it's working with Honda (HMC 1.24%) to explore the potential for supplying battery materials for the automaker's electric vehicles (EVs) manufactured in North America.
The company started operations at its first commercial-scale lithium-ion battery recycling facility in Georgia. The facility opened in 2023 but has had some bumps in the road, including closing the facility for several months in 2025 to address fire concerns.
Ascend Elements achieved a milestone in September 2025 when it produced for the first time lithium carbonate that is more than 99% pure with material recovered from used lithium-ion batteries at its facility in Georgia. Management targets annual lithium carbonate production of 3,000 metric tons in the Georgia facility and more than 15,000 metric tons in the U.S. and Europe by 2027.
With the considerable market opportunity that lies before Ascend Elements, investors are unsurprisingly eager to power their portfolios with it. But before jumping in with an investment, there are critical things to consider. For instance, how do investors buy shares of Ascend Elements, when will it hold an initial public offering (IPO), and are there alternative investment opportunities?
IPO
Is it publicly traded?
Is Ascend Elements publicly traded?
Ascent Elements completed a Series D funding round in February 2024, but it remains a privately held company. That leaves most investors unable to pick up shares. In addition to the equity that insiders own, various venture capital firms and other investors have taken positions in the company.
According to business intelligence company Crunchbase, Ascend Elements has raised a total of $1.7 billion over 14 funding rounds.
When will it IPO?
When will Ascend Elements IPO?
Investors with a higher risk tolerance to invest in growth companies may be keeping a keen eye on Ascend Elements in the hopes of buying the stock during its IPO. However, they'll have to keep waiting. Ascend Elements is not on the IPO calendar, and there's no sign the company plans to launch an IPO anytime soon.
How to buy
How to buy Ascend Elements stock
While the majority of those looking to buy Ascend Elements stock are currently out of luck, accredited investors may be able to pick up shares even before the stock holds an IPO. Platforms like Forge Global (FRGE 2.16%) offer accredited investors the ability to invest in privately held companies, such as Ascend Elements.
If you aren't an accredited investor but still want exposure to lithium-ion battery companies like Ascend Elements, you're not completely out of luck. There are plenty of similar publicly traded companies to choose from.
- Alliance Resource Partners (ARLP 1.84%): Investing in this company can provide indirect exposure to Ascend Elements, albeit small. The $25 million investment it made in Ascend Elements through its 2023 Series D funding round pales in comparison to Alliance Resource's market cap of about $3.25 billion. The company's oil and gas royalties contribute to the top and bottom lines of its financials. However, the company's bread and butter is coal -- worth noting for investors attracted to Ascend Elements' green energy endeavors.
- Enovix (ENVX 8.33%): Looking to disrupt the traditional lithium-ion battery market, Enovix has developed a version with silicon (rather than graphite) anodes, resulting in a battery with higher energy density and a better safety profile. It began operations at a new manufacturing facility in Malaysia in early 2024 that will help scale production volumes, but the company is still in the early innings of its development, generating revenue for the first time in 2022.
- QuantumScape (QS 15.78%): This company is developing a solid-state battery that could provide EVs with greater range and quicker charging times -- two factors that could make EVs a lot more appealing to customers. Should it succeed in its solid-state battery endeavors, the rewards could be huge for investors. Of course, the opposite also rings true, making QuantumScape stock a typical high-reward, high-risk opportunity.
To invest in any of these companies, follow these steps.
- Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Submit your order: Confirm the details and submit your buy order.
- Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Profitability
Is Ascend Elements profitable?
As a privately held company, Ascend Elements doesn't have to submit regulatory filings, so it's difficult to say whether the company is making a profit yet.
However, regarding the top line of the income statement, the company seems to be generating revenue from processing end-of-life batteries and manufacturing scrap at a facility in Georgia, according to a 2022 press release. Construction on another facility in Kentucky is currently paused, but the company hopes it will open in 2026. And in May 2025, Poland offered the company up to $320 million to construct a facility in Poland.
The company has a $1 billion supply agreement with an unnamed customer for these battery materials. The agreement started in the first quarter of 2025 and has the potential to expand to $5 billion over several years.
Should I invest?
Should I invest in Ascend Elements?
Since Ascend Elements hasn't held an IPO, the majority of investors cannot add this stock to their portfolios. If the company does complete an IPO, it will have to submit regulatory filings, enabling investors to gain greater insight into its financials. When this happens, investors will be able to make a more informed decision about whether the stock is right for them.
Accredited investors, on the other hand, may be able to gain exposure to Ascend Elements now. Of course, only those comfortable with taking on a more speculative investment should consider a position.
ETF options
ETFs with exposure to Ascend Elements
Because Ascend Elements isn't a publicly traded company, investors can't gain exposure to the stock through an exchange-traded fund (ETF). But several lithium and battery tech ETFs provide exposure to stocks closely related to Ascend Elements.
Exchange-Traded Fund (ETF)
- Global X Lithium & Battery Tech ETF (LIT 8.16%): With 40 holdings in the fund, this ETF provides exposure to lithium companies and those specializing in lithium-ion batteries. The fund's largest holding is Albemarle (ALB 7.76%), a global leader in lithium production. It also includes EV stocks, such as Tesla (TSLA 4.93%) and Lucid (LCID 1.38%). The ETF has an expense ratio of 0.75%.
- Amplify Lithium & Battery Technology ETF (BATT 6.42%): This ETF offers broad exposure to companies involved in battery production. That includes established lithium producers, like Albemarle; rare earth metals production company MP Materials (MP 23.69%); and battery manufacturers. The ETF has an expense ratio of 0.59%.
- Invesco WilderHill Clean Energy ETF (PBW 7.61%): Investors looking for broader clean energy exposure will find this ETF a worthy consideration. Through the fund's 65 holdings, investors expand their green energy exposure beyond lithium and battery stocks, gaining exposure to solar, wind, and hydrogen stocks, among others, like renewable energy powerhouse Brookfield Renewable Corporation (NYSE:BEPC). The ETF has an expense ratio of 0.64%.
Related investing topics
The bottom line on Ascend Elements
With lithium-ion battery demand expected to accelerate in the coming years, it's hardly shocking that investors have battery companies like Ascend Elements on their radars -- especially in light of the sizable production facility the company is developing in Kentucky. However, they'll have to wait before they can pick up shares.
Ascend Elements is still a privately held company, and there's no sign of an IPO in sight. Fortunately, investors have options -- from the indirect exposure afforded by Alliance Resource Partners to battery growth stocks like Enovix and QuantumScape, as well as various ETFs that focus on lithium, batteries, and green energy businesses.
FAQ
Investing in Ascend Elements FAQ
Is Ascend Elements a private company?
Yes, Ascend Elements is a private company. At this time, there is no indication that the company has plans to hold an IPO.
Who is Ascend Elements' partner?
Ascend Elements has several partners, including venture capital firms and legacy automakers like Honda.
What does Ascend Elements do?
Ascend Elements is committed to developing a closed-loop system that produces battery materials from discarded lithium-ion batteries.
What is Ascend Elements' stock symbol?
Since Ascend Elements isn't a publicly traded stock found on major exchanges, it doesn't have a stock symbol.
