EV Battery Supplier In Talks For Full-Building Lease At Devens Manufacturing Campus
The 45-acre Pathway industrial campus in Devens appears close to landing another major manufacturing tenant.
Developer King Street Properties is in negotiations with Westborough-based Ascend Elements, a manufacturer of lithium-ion battery materials for electric vehicles, for a full-building, 101K SF lease at 39 Jackson Road, a manufacturing and research and development facility.
The Devens Enterprise Commission approved Ascend's intended uses on the site earlier this week after King Street sent the planning board a letter revealing details of the negotiations. The letter was first reported Thursday by Banker & Tradesman.
Ascend would use the space at 39 Jackson Road for advanced manufacturing along with lab, office and storage space.
King Street didn't respond to Bisnow's request for comment.
Ascend Elements has other expansion plans in Kentucky for a facility that could produce battery materials for 750,000 electric vehicles, and it announced last month that it signed a five-year deal with an undisclosed client to provide $1B in materials for battery manufacturing. The deal begins in the latter half of 2024.
The firm would be the third manufacturing tenant to sign on at the Devens campus.
In May, clean tech company Electric Hydrogen signed a 187K SF lease for a factory at 33 Jackson Road. The campus's first tenant, Azzur Group, signed a lease for a 103K SF good manufacturing practices facility at 45 Jackson Road in May 2022.
Earlier this week, King Street put out a call for a brewery to set up shop at the campus's 8,200 SF amenity center, which is projected to accommodate 1,000 people who will work on the campus.