Used in a variety of products, from smartphones and laptops, to EVs and energy storage solutions, lithium-ion batteries are a critical driver of the energy transition. At the same time, mining for the required materials that go into manufacturing them is not sustainable for the environment.

As per ESG Today, Princeton NuEnergy is a spin-off from the University of Princeton in 2019 and it focuses on recycling lithium-ion batteries using a low-temperature plasma-assisted separation process. This, company officials claim, helps reduce environmental risks, while reducing costs and the carbon emissions associated with recycling lithium-ion batteries.

At the same time, this technology allows for 70% water saving, 80% lower energy costs and carbon footprint, while also cutting costs by 48% compared to mining virgin materials, as well as 29% more cost-efficient than traditional hydrometallurgical battery disassembly.

PNE officials said that the Series A investment will allow the company to upgrade the equipment used at the recycling facility, which will enable increasing the processing capacity.