Princeton NuEnergy (PNE) Secures $16 Million in Series A Funding to Advance Lithium-ion Battery Direct Recycling Technology
BORDENTOWN, N.J., Nov. 6, 2023 /PRNewswire/ -- Princeton NuEnergy ("PNE"), a clean- tech innovator specializing in recycling, repurposing, and commercializing lithium-ion battery materials, is pleased to announce the initial closing of its Series A funding round, raising $16 million. The round was led by Wistron Corporation (TPE: 3231), a Fortune Global 500 member and industry leader in electronics recycling services. Additionally, new institutional investors participated in this round, including Honda Motor Co., Ltd. (NYSE: HMC), GS Futures, and Traxys North America, joining previous investors Greenland Technologies, Shell Ventures, and WorldQuant Ventures, among others. PNE will use the proceeds for new recycling facility construction and equipment procurement to further increase processing capacity and support company operations.
- The round was led by Wistron Corporation (TPE: 3231), a Fortune Global 500 member and industry leader in electronics recycling services.
- PNE will use the proceeds for new recycling facility construction and equipment procurement to further increase processing capacity and support company operations.
- "This Series A funding round represents a major step towards realizing our vision of a cleaner, greener future through cutting-edge lithium-ion battery recycling technology.
- "Princeton NuEnergy has an innovative concept and technologies for lithium-ion battery recycling, and Honda has high expectations for their future potential.