Princeton NuEnergy Revolutionizes Battery Recycling with $10.3 Million Funding Boost
May 15, 2024, 7:35 am
Princeton NuEnergy, a cutting-edge clean-tech company, secures an additional $10.3 million in Series A funding to advance their revolutionary lithium-ion battery direct recycling technology. This latest financing round, totaling $26.4 million over six months, marks a significant milestone for the company as they attract valuable strategic partners and gear up for expansion.
Princeton NuEnergy's flagship innovation, the low-temperature plasma-assisted separation process (LPAS™), is a game-changer in the world of battery recycling. This patented technology not only reduces costs, environmental waste, and carbon emissions but also enables higher critical material recovery rates and superior material performance compared to traditional recycling methods.
With the support of key investors such as SCGC, Tech Council Ventures, and LKQ Corporation, Princeton NuEnergy is poised to make a lasting impact on the sustainability of battery recycling. CEO Dr. Chao Yan expressed gratitude for the backing of investors and partners, emphasizing the company's commitment to driving down costs and reducing carbon emissions through their Cathode-to-Cathode™️ technology.
The newly acquired funds will be used to establish an Advanced Black Mass and Cathode Manufacturing Center in the southeastern U.S. 'battery belt', further solidifying Princeton NuEnergy's position as a leader in the industry. In addition to the Series A funding, the company has also secured significant grants from the U.S. Department of Energy for battery recycling research, totaling $18 million.
Princeton NuEnergy's mission to reduce the nation's dependence on foreign critical materials and foster domestic manufacturing capabilities aligns with their vision of creating high-quality clean energy jobs within the United States. With a focus on innovation and sustainability, Princeton NuEnergy is paving the way for a greener, more efficient future in battery recycling.
For media inquiries, please contact Arsalan Khan at arsalan_khan@pnecycle.com.
Princeton NuEnergy's flagship innovation, the low-temperature plasma-assisted separation process (LPAS™), is a game-changer in the world of battery recycling. This patented technology not only reduces costs, environmental waste, and carbon emissions but also enables higher critical material recovery rates and superior material performance compared to traditional recycling methods.
With the support of key investors such as SCGC, Tech Council Ventures, and LKQ Corporation, Princeton NuEnergy is poised to make a lasting impact on the sustainability of battery recycling. CEO Dr. Chao Yan expressed gratitude for the backing of investors and partners, emphasizing the company's commitment to driving down costs and reducing carbon emissions through their Cathode-to-Cathode™️ technology.
The newly acquired funds will be used to establish an Advanced Black Mass and Cathode Manufacturing Center in the southeastern U.S. 'battery belt', further solidifying Princeton NuEnergy's position as a leader in the industry. In addition to the Series A funding, the company has also secured significant grants from the U.S. Department of Energy for battery recycling research, totaling $18 million.
Princeton NuEnergy's mission to reduce the nation's dependence on foreign critical materials and foster domestic manufacturing capabilities aligns with their vision of creating high-quality clean energy jobs within the United States. With a focus on innovation and sustainability, Princeton NuEnergy is paving the way for a greener, more efficient future in battery recycling.
For media inquiries, please contact Arsalan Khan at arsalan_khan@pnecycle.com.