BlackRock's, Temasek's JV Decarbonization Partners Invests In Ascend Elements

(RTTNews) - Decarbonization Partners a joint venture by investment holding companies BlackRock, Inc. (BLK) and Temasek announced on Wednesday that it has invested in Ascend Elements, a manufacturer of sustainable batteries for electric vehicles.

The amount of investment is not known.

A representative of Decarbonization Partners will also join Ascend Elements' Board, the JV said in a statement.

It led the Ascend Elements' Series D round alongside Temasek and Qatar Investment Authority.

The Series D funding will further the construction of Ascend Elements manufacturing facility in Hopkinsville, Kentucky and is touted to be North America's first sustainable cathode precursor and cathode active material manufacturing facility.

Today, Alliance Resource Partners, L.P. (ARLP), a diversified natural resource company, also has announced an investment of $25 million in Ascend Elements.

In pre-market activity, shares of BlackRock are trading at $680.86 down 2.17% on the New York Stock Exchange.