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Ascend Elements to Pay $7.5 Million to Resolve Federal Reimbursement Claims
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Ascend Elements has agreed to pay nearly $7.5 million to resolve allegations that it submitted inflated reimbursement claims to the U.S. Department of Energy related to the construction of its Apex-1 battery materials facility in Hopkinsville.
U.S. Attorney Kyle Bumgarner announced Thursday that the Massachusetts-based lithium-ion battery materials manufacturer will pay $7.49 million to settle civil allegations involving the company’s federally funded project in Christian County.
Federal officials said the Department of Energy paid more than $5.3 million based on those reimbursement requests.
Federal prosecutors said Ascend voluntarily disclosed the issues to the government, conducted an internal investigation and cooperated with investigators.
Turner-Kokosing Joint Venture purchased the property in June after Ascend Elements filed for bankruptcy.