Princeton NuEnergy (Series A)
Funding Details
Awarder
Inbox
Date Award
July 1, 2024
Vertical
Batteries
Funding Amount
$30,000,000
Company Info
Organizations Involved
Samsung Venture Investment Corp., Helium-3 Ventures, Honda Motor Co. Ltd., LKQ Corp., SCG Group, Traxys Group, Wistron Corp.
Founders
Chao Yan
Market
Energy Storage
Location
Not specified, New Jersey, US
Coinvestors
Samsung Venture Investment Corp., Helium-3 Ventures
Company Description

Princeton NuEnergy is a clean-tech startup focused on direct recycling technology for lithium-ion batteries. Princeton NuEnergy Inc. (PNE) is an innovative U.S.-based clean-tech company, spun out from Princeton University in 2019, and reaching commercial production in 2023. We are revolutionizing the material supply chain with our patented low-cost process for producing high-quality cathode active materials from spent lithium-ion batteries. We recycle lithium-ion batteries from electric vehicles, consumer electronics, energy storage batteries, and manufacturing scrap. Our primary product: directly re-usable Cathode and Anode materials at 99.99% purity – produced at half the cost of virgin material production with zero waste!