Nation's first commercial-scale battery
direct recycling manufacturing facility establishes disruptive
technology in the United States
CHESTER COUNTY, S.C. and
PRINCETON, N.J. ,
June 20,
2024 /PRNewswire/ -- Princeton NuEnergy (PNE), a
global leader in lithium-ion battery direct recycling, today broke
ground on the nation's first commercial-scale lithium-ion battery
direct recycling facility. When complete, annual production is
estimated at more than 10,000 tpa of battery-grade cathode
material, equivalent to producing more than 100,000 batteries for
EVs each year.
"We are pleased to welcome Princeton NuEnergy to Chester County and South Carolina. The company's new operation
will have a significant impact in the community by creating 41
new jobs and advancing our state's alternative energy sector",
stated Governor Henry McMaster.
Developed from research started at Princeton University, PNE's patented,
low-temperature, plasma-assisted separation process (LPAS™)
recovers more than 95 percent of lithium-ion materials found in all
lithium-ion battery chemistries. PNE's direct recycling process is
significantly cleaner, faster, and less costly than traditional
recycling or virgin cathode production.
Results from Argonne National Lab's EverBatt model highlight
that direct recycling of batteries to pristine OEM-equivalent
cathode can deliver reductions up to 40 percent in cost and 70
percent in environmental waste. Direct recycling fundamentally
improves battery manufacturing by reducing water consumption,
eliminating toxic acid leaching, avoiding refining emissions and
reducing CO2 emissions by up to 158,000 tonnes per annum (tpa) at
10,000 tpa production levels vs. cathode produced from virgin
materials.
Today is a national milestone for America's circular battery
economy and brings the research incubated at Princeton University to market," said Dr.
Chao Yan, PNE's founder and CEO.
"South Carolina is an ideal
location to lead the battery recycling revolution."
A circular battery economy means materials stay in-country, from
genesis to end-of-life recycling and remanufacturing. Battery
feedstock comes from various consumer goods and industrial sources,
including mobile phones and computers, batteries from children's
toys, electric vehicles, and industrial energy storage
facilities.
Today's announcement follows PNE closing a Series A round at
$30 million, following investor
demand for this substantially 50% over-subscribed round, adding
Samsung Venture Investment Corporation as a strategic
investor, and being listed by Time Magazine to "America's Top
Greentech Companies 2024".
About Princeton NuEnergy
Princeton NuEnergy (PNE) is the leader in lithium-ion battery
direct recycling, furthering America's circular battery economy.
Founded at Princeton University and
named to Time Magazine's "America's Top Greentech Companies
2024" list, PNE is revolutionizing the critical materials supply
chain with its patented direct recycling technology for lithium-ion
batteries. PNE's patented low-temperature plasma-assisted
separation process (LPAS™) produces battery-grade cathode and anode
materials suitable for direct reintroduction into cell
manufacturing with reductions of up to 40 percent in cost and
70 percent in the environmental footprint over conventional
methods. The company has received over $55
million in grants and strategic and venture funding,
including investments from Honda Motor Co, Ltd., LKQ Corporation,
Samsung Venture Investment Corporation, Wistron Corporation, and
the U.S. Department of Energy. For more information, visit
www.pnecycle.com.
For more information:
Inkhouse for Princeton NuEnergy
pne@inkhouse.com
NP Strategy Princeton NuEnergy
Kelsey Barlow
kelsey@npstrategy.com
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SOURCE Princeton NuEnergy