Princeton NuEnergy (PNE), a company that repurposes lithium-ion battery materials, has secured USD 16 million in a Series A funding round. The round was led by Wistron Corporation, with participation from Honda Motor Co., Ltd., GS Futures, and Traxys North America, alongside earlier investors, such as Greenland Technologies, Shell Ventures, and WorldQuant Ventures.

The funds will be used to establish new recycling facilities and acquire equipment to enhance PNE’s processing capabilities and bolster overall operations.

PNE's low-temperature plasma-assisted separation process (LPAS™) produces battery-grade cathode and anode materials suitable for direct reintroduction into cell manufacturing. This direct recycling process is claimed to have efficiency rates of over 95% with a much lower environmental footprint while costing half as much as conventional methods.