JLL secures landmark European subsidy for Ascend Elements to deliver sustainable pCAM production facility

JLL today announced that its EMEA Grant & Incentives team has secured a $320m (USD) grant from the Polish government on behalf of Ascend Elements, a leading American technology company focused on sustainable development within the lithium-ion battery industry.

The specialised team, which focuses on industrial location advisory and public incentives acquisition, identified and analysed optimal European aid programs aligned with Ascend Elements’ investment plans, leading to the submission of a successful bid to Poland’s Minister of Development and Technology. Awarded under a government program supporting projects of strategic importance for the transition to a net-zero economy (known as TCTF), the grant will contribute to a total investment of at least $1.34 bn (USD) and creation of 200 highly specialised new jobs in the country.

The Grant & Incentives team strategically shaped stakeholders' perception of the project's unique value, aligning it with Poland's economic development priorities. This approach resulted in a positive recommendation from the Polish Investment and Trade Agency, leading to the Minister of Development and Technology's decision to award Ascend Elements a record-breaking non-refundable cash subsidy.

Once completed, the facility will produce pCAM, a critical component for lithium-ion battery cathodes, sourced by Ascend Elements from black mass obtained from recycled spare EV batteries. The project aligns with EU supply chain development strategy, integrating end-of-life battery recycling with the production of new materials. Global car and electric vehicle battery manufacturers will be the primary recipients of the finished product.

"Securing this landmark investment for Ascend Elements represents the kind of strategic advisory work that JLL excels at in the energy transition space,” said Iwona Chojnowska-Haponik, Director of Location Advisory and Incentives & Grants at JLL. “Our deep understanding of Poland's industrial real estate market, combined with our expertise in navigating complex government incentive programs, was instrumental in helping the company establish their European manufacturing footprint in this critical battery materials sector."

In addition to preparing comprehensive application documentation for the bid, JLL also supported Ascend Elements with financial modelling and ensured compliance with EU and national state aid regulations.

"Ascend Elements highly values the professionalism, commitment, and strategic approach of JLL at every stage of the process – from analysing the regulatory environment and identifying possible sources of support, to precise preparation of the application and effective representation of the project before government institutions,” said Monika Słomka, Manager for EU Government Relations at Ascend Elements. She added, “The JLL team brought not only expert knowledge in public aid but also a real understanding of the investor's business needs, which translated into an unprecedented result."