BOSTON—King Street Properties announced that Ascend Elements, a company revolutionizing the production of sustainable lithium-ion battery materials, signed a lease for the new 101,000 square foot building located at 39 Jackson Road, part of King Street’s Pathway Devens campus.
This transaction marks the full lease-up of the first phase of King Street’s Pathway Devens development.
Ascend Elements joins other clean energy firms Commonwealth Fusion Systems and Electric Hydrogen as well as biotechnology cleanroom provider Azzur Group at Pathway Devens. This location will serve as world headquarters and tech center for Ascend Elements who is also constructing a $1B manufacturing facility in Hopkinsville, Kentucky. The company’s patented Hydro-to-Cathode® direct precursor synthesis technology was developed locally at Worcester Polytechnic Institute in Massachusetts by Professor Yan Wang and Dr. Eric Gratz. Ascend Elements has emerged as a vital player in the U.S. economy, receiving funding from the U.S. Department of Energy as well as other private sources.
“Ascend Elements’ mission to create a more sustainable lithium ion battery supply chain aligns with King Street’s mission to create science campuses that ultimately help solve human health and climate issues, and we are thrilled to welcome them to our growing roster of tenants at Pathway Devens. This addition further solidifies Devens as the top destination in Greater Boston for innovators engaged in advanced manufacturing. The Ascend lease marks over 550,000 SF of leasing at our Devens campus in just three years since launching the project,” said Tyson Reynoso, Managing Director & Partner, King Street Properties.
“This relocation will be a milestone for Ascend Elements as we continue our rapid growth in the engineered battery materials industry,” said Mike O’Kronley, CEO of Ascend Elements. “The Pathway Devens location is a world-class facility with excellent amenities in a community of cleantech and biotech innovators. We look forward to having space to expand and a facility that will meet our current and future needs.”
Pathway Devens, a 45-acre purpose-built development in the heart of Devens also includes an 8,300 square foot amenity center and taproom that King Street will be opening in Q1 2024. The amenity center will be a feature element of the campus designed to create a welcoming environment for workers as well as the surrounding community to socialize. The building includes a fitness center, lounge area, and a game room and a café. The new taproom will be open to the public.
John Carroll III and Kevin Brawley of Colliers represented Ascend Elements in the transaction and Brian McKenzie and Alex Plaistead of CBRE represented King Street properties.