TDK Ventures has invested in R3 Lithium, which acquired the former Ascend Elements battery recycling plant in Covington, Georgia. The US-based investment arm of the Japanese materials company was also an investor in Ascend Elements, previously known as Battery Resourcers.
The investment forms part of R3’s previously announced $15 million Series A round, alongside Integral GlobalTech Partners, Axial Partners and other investors. TDK’s individual contribution was not disclosed.
The announcement follows our report on 10 September that R3 had restarted the former Ascend Elements recycling plant in Covington, Georgia. R3 acquired the facility through bankruptcy proceedings in July and is targeting continuous commercial production of recycled lithium carbonate in 2027.
TDK said its decision followed an assessment of R3’s restructured business. The company’s approach prioritises lithium carbonate recovery, with remaining concentrated metal oxides sold separately.
The investor also plans to connect R3 with specialists across the Japanese multinational and explore collaboration on process control, power systems, sensing and manufacturing quality.
“We believe this team can help make recycled batteries an important source of America’s critical minerals,” said Nicolas Sauvage, president of TDK Ventures.
The plant has 30,000 tonnes of shredding capacity and a 2,500-tonne lithium carbonate recovery line, with space to double capacity, according to the announcement.
R3’s long-term offtake agreements include Trafigura. TDK put their potential aggregate value at approximately $1 billion over their full terms, subject to pricing and volume assumptions.
