Princeton NuEnergy (PNE) is a clean technology company specialized in lithium-ion battery recycling and materials production. Founded in 2019 as a spin-off from Princeton University, PNE has developed an advanced solution for battery material recovery that supports sustainable practices in the electric vehicle and energy storage industries. The company’s innovative approach to battery recycling achieves a 95% recovery rate while reducing CO2 emissions by 69% compared to conventional methods. Through its technology and strategic partnerships, PNE contributes significantly to establishing a domestic circular economy in battery materials, addressing vital concerns about resource extraction and environmental impact.
Battery Technology
PNE’s proprietary Low-temperature Plasma-assisted Separation (LPASTM) technology represents a significant advancement in battery recycling. This process enables direct recycling of lithium-ion batteries through a method that requires less energy, water, and produces fewer emissions than traditional recycling approaches. The technology focuses on cathode-to-cathode and anode-to-anode rejuvenation processes, maintaining the structural integrity of valuable materials.
The LPASTM process operates at lower temperatures than conventional recycling methods, reducing energy consumption while eliminating the need for harsh chemicals and minimizing waste production. This technology can process various types of lithium-ion batteries, including those from electric vehicles, consumer electronics, and energy storage systems. Independent testing by Argonne National Laboratory has confirmed that cathode materials recycled using PNE’s technology demonstrate discharge capacity retention comparable to new materials, validating the effectiveness of their approach.
Recent Projects
In June 2024, PNE launched its flagship facility in Chester County, South Carolina, marking a significant milestone as the first commercial-scale lithium-ion battery direct recycling manufacturing facility in the United States. The facility is designed to produce more than 10,000 tons of battery-grade cathode material annually, equivalent to materials for over 100,000 electric vehicle batteries.
The company also secured a $4.375 million grant from the U.S. Department of Energy in September 2023 to advance their cathode active materials manufacturing capabilities.
Investors
PNE has attracted substantial investment from prominent industry players and venture capital firms. The company completed a $30 million Series A funding round with participation from Samsung Venture Investment Corporation, Helium-3 Ventures, and Shell Ventures. Additional strategic investors include Honda Motor Co., Ltd., LKQ Corporation, SCG Chemicals, and Wistron Corporation. The company has also received multiple grants from the U.S. Department of Energy, totaling $18 million, demonstrating strong government support for their technology.
Business Details
Location: Bordentown, New Jersey, USA
Website: https://pnecycle.com
LinkedIn: https://www.linkedin.com/company/64728604
