On their blog post, they claim to use the "standard Apache CLA" which indeed does grant the license to the ASF... presumably they plan to modify the CLA to gran

On their blog post, they claim to use the "standard Apache CLA" which indeed does grant the license to the ASF... presumably they plan to modify the CLA to grant the license to Element... but I haven't been successful finding a copy of their modifications. The Apache CLA also contains a critical clause : "In return, the Foundation shall not use Your Contributions in a way that is contrary to the public benefit or inconsistent with its nonprofit status and bylaws in effect at the time of the Contribution." Based on the Element blog-post as well as comments they have made here... I doubt they plan to keep that clause in place.