Princeton NuEnergy (Series A)
Funding Details
- Awarder
- Inbox
- Date Award
- July 01, 2024
- Vertical
- Batteries
- Funding URL
- View Funding Page
- Funding Amount:
- $30,000,000
Company Info
- Founding Year
- Not specified
- Traction
- None
- Organizations Involved
- Samsung Venture Investment Corp., Helium-3 Ventures, Honda Motor Co. Ltd., LKQ Corp., SCG Group, Traxys Group, Wistron Corp.
- Founders
- Chao Yan
- 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!
- Market
- Energy Storage
- Location
- Not specified, New Jersey, US
- Coinvestors
- Samsung Venture Investment Corp., Helium-3 Ventures