Princeton NuEnergy Secures $16M in Series A Funding for Lithium-Ion Battery Recycling

Bordentown, USA, New Jersey-based clean-tech innovator, Princeton NuEnergy, has raised $16 million in Series A funding. The funding round was led by Wistron Corporation, and new investors, including Honda Motor Co., GS Futures, and Traxys North America, also participated. Princeton NuEnergy specializes in recycling, repurposing, and commercializing lithium-ion battery materials. The funds will be used to construct a new recycling facility and procure equipment to expand processing capacity and support company operations. Led by Founder and CEO Dr. Chao Yan, the company utilizes patented direct recycling technology for lithium-ion batteries, achieving recycling efficiency rates of over 95% at a lower cost and with a reduced environmental footprint compared to conventional methods. In 2022, Princeton NuEnergy launched a production-scale lithium-ion battery direct recycling line in the U.S., and it has received multiple research grants for battery recycling from the U.S. Department of Energy.