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Princeton NuEnergy raises USD 10.3 million in Series A funding to construct manufacturing facility
Waste Recovery & Management Tech
May 13, 2024
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Waste Recovery & Management Tech

May 13, 2024

Princeton NuEnergy raises USD 10.3 million in Series A funding to construct manufacturing facility

Funding

  • Princeton NuEnergy (PNE), a company that repurposes lithium-ion battery materials, has raised USD 10.3 million in a Series A funding round led by SCGC, Tech Council Ventures, and a subsidiary of LKQ Corporation.

  • PNE will use the funds to construct an Advanced Black Mass and Cathode Manufacturing Center in the southeastern US "battery belt."

  • Analyst QuickTake: The company previously raised USD 16 million in a Series A funding round in November 2023 to enhance its processing capacity. This was preceded by a USD 4.4 million grant from the US Department of Energy in September 2023 .

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