Princeton University
Princeton University

Princeton NuEnergy

Princeton University
A better way to recycle lithium-ion batteries

Stage

Preferred Financing (Series A or later)

Sectors

Physical Sciences

Team Members

Dr. Chao Yan, Ph.D - CEO / Dr. Xiaofang Yang, Ph.D - CTO / Yinguang Ju, Ph.D - Co-Founder / Bruce E. Koel, Ph.D Co-Founder (8.2023)

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Funding
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(10.2022 Update -Princeton NuEnergy, Inc. ("PNE"), an emerging growth company primarily engaged in the regeneration of lithium-ion battery ("LIB") material, announced it successfully closed a seed funding round at $7M in Q4 2021. The round was led by Wistron Corporation (TPE: 3231), a Fortune Global 500 member and an industry leader in electronics recycling services. Other investors in the round include Shell Ventures, Greenland Technologies (NASDAQ: GTECH), CleanTech Open, AIBasis Fund, WorldQuant Ventures, and the angel round investors. Princeton NuEnergy ("PNE") is an innovative clean-tech startup company spun out from Princeton University in 2019 focused on the direct recycling of lithium-ion batteries from electric vehicles and consumer electronics. Opened its Lithium-Ion Battery (LIB) Direct Recycling 500-ton pilot production line with Wistron GreenTech. )

Problem & Market Focus

New methods for recycling lithium-ion batteries could help solve the looming shortage of critical metals, including lithium, cobalt, nickel, and manganese, while reducing waste. The demand for lithium-ion batteries continues to increase as auto manufacturers boost production of electric and hybrid vehicles along with increases in use from telecom and personal electronic devices. Yet recycling of lithium-ion batteries requires high amounts of energy and produces significant chemical waste. The two main recycling processes of today (pyrolysis and hydrolysis) result in intensive use of energy and water as well as efficiency challenges due to the multi-step mass-transfer processes.

Technology & Value Proposition

Princeton NuEnergy has invented a plasma-based direct recycling process for lithium-ion battery cathodes. This process is acid-free consisting of steps for recovering the lithium-bearing oxide materials from the batteries, starting by detaching these with water-based solutions, physically separating the positive and negative electrode materials, and further separation of intact and damaged particles. Princeton NuEnergy then exposes the extracted cathode to low-temperature plasmas (charged clouds of gas) to purify the materials, followed by recovery of the particle shape and crystalline structure. This approach for regenerating electrode materials without completely breaking down the chemical compounds offers advantages in cost-savings, energy efficiency and environmental protection. (Update: Princeton NuEnergy (PNE) Awarded $12M Grant from U.S. Department of Energy (DOE) in Nov 2022)

Keywords

recycle, lithium-ion batteries, cathode, regenerate electrodes
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