Legal support to Elemental Strategic Metals in the transaction of creating a joint venture with Ascend Elements

We provided comprehensive legal support to Elemental Strategic Metals sp. z o.o. based in Grodzisk Mazowiecki, a company within the Elemental Group, in the transaction of creating a joint venture with Ascend Elements Inc. based in Westborough, Massachusetts.

Our support included, in particular, preparing and negotiating the joint venture agreement, executive documentation, and assistance in signing of the transaction. Closing of the transaction is subject to obtaining consent from the President of the Office of Competition and Consumer Protection (UOKiK) for the establishment of the joint venture.

The activities of the joint venture will involve the construction and management of facilities for: (i) recycling of lithium-ion batteries and production waste from battery factories, (ii) extraction of metals from black mass obtained from recycling lithium-ion batteries and production waste from battery factories – in Poland and other European countries.

Elemental Strategic Metals sp. z o.o., which is part of the Elemental Holding Group, engages in developing and implementing technologies in the processing, recovery, and refining of strategic industrial metals and precious metals, as well as applications of strategic and precious metals in new industrial sectors, particularly in electromobility and battery cell production.

Ascend Elements Inc. operates mainly in the USA, focusing on the production of battery materials in the form of cathode precursors and cathodes for lithium-ion batteries using proprietary technology. The raw materials for manufacturing these products are used lithium-ion batteries and recycled production waste from battery factories. As a result, Ascend Elements provides a sustainable solution in the closed-loop supply chain of battery cathodes.