Princeton NuEnergy (PNE) Receives Prestigious Entrepreneurship Award
BORDENTOWN, N.J., Oct. 14, 2022 /PRNewswire/ -- Three founding researchers of Princeton NuEnergy , Dr. Xiaofang Yang, Jerry Xiang, MS, and Dr. Chao Yan have been selected as the recipients of Princeton University's prestigious 2022 Tiger Entrepreneur Award as part of the Celebrate Princeton Innovation event on October 13th.
The Tiger Entrepreneur Award is designed to celebrate the value of entrepreneurship across the Princeton community. It is presented to Princeton affiliated individuals or teams who demonstrate success in entrepreneurial endeavors, experience with and commitment to inspiring others through entrepreneurship.
Princeton NuEnergy Inc. (PNE) is a U.S-based innovative clean-tech startup focused on recycling, repurposing, and commercializing lithium-ion battery (LIB) direct recycling and materials recovery from spent electric vehicle (EVs), consumer electronics, manufacturing scrap, and energy storage batteries. The company's patent-pending low-temperature plasma-assisted (LPAS™) LIB recycling process reduces costs by 40% and CO2 emissions by 70% compared to conventional recycling processes, while being highly scalable.
PNE was founded as a spin-off from Princeton University research in 2019 with a goal of rapidly commercializing the core technologies. This has culminated in 2022, quickly moving of their breakthrough lithium-ion battery direct recycling and critical materials recovery technology with major funding rounds and partnerships, as well as the upcoming launch of the first U.S. direct recycling production line with Wistron GreenTech on October 25, 2022 in McKinney, Texas. PNE has plans to boost recycling capacity to 20,000 tons in 2024.
Dr. Tony Williams, the Associate Director in Princeton's Office of Technology Licensing, remarked on PNE: "Princeton NuEnergy has grown at a truly impressive pace. It is one of the most impressive entrepreneurial trajectories I have seen in my six and a half years working in new venture creation at Princeton's Office of Technology Licensing, and a testament to the commitment and skills of the founding team."
Dr. Chao Yan, a Founder of PNE, stated: "We at PNE are forever grateful for the foundation that Princeton University provided to us in mentorship, support of our research, and our move into operational status. With the emphasis that Princeton puts on fostering entrepreneurs, it is clear why so many great organizations, especially in the sciences, are coming out of there. It is a huge honor to receive this accolade from the University which has been so integral to our success."
About PNE
Princeton NuEnergy (PNE) is a US-based, innovative clean-tech startup that was spun out of Princeton University in 2019, launching commercial production in 2022. PNE is quickly revolutionizing the critical materials supply chain with its patented direct recycling technology for lithium-ion batteries.
Using a novel low-temperature plasma process, PNE successfully reclaims high-value materials, including rejuvenated cathode and anode materials suitable for direct reintroduction into cell manufacturing. Compared to conventional methods, PNE's process offers low cost, low carbon footprint, and no hazardous emissions – all at a high recycling efficiency rate.
To learn more about PNE, visit: www.pne-old.beaconfireinc.com.
Media Contact: Tina Liu, [email protected]
SOURCE Princeton NuEnergy
