# Princeton NuEnergy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/princeton-nuenergy

- Industry: Energy Storage & Batteries
- Headquarters: Bordentown, US
- Website: www.pnecycle.com
- Total disclosed funding: $87M
- Latest round: Series A (Jun 17, 2024)
- Investors on record: 15

## About

Established in 2019 and based in New Jersey, US, Princeton NuEnergy Inc. operates as a clean-tech company that provides recycling of lithium-ion batteries from electric vehicles, consumer electronics, energy storage batteries, and manufacturing scrap. In November 2023, Princeton NuEnergy Inc. raised USD 16 million in Series A funding led by Wistron Corporation, with participation from Honda Motor Co., Ltd., GS Futures, Traxys North America, Greenland Technologies, Shell Ventures, and WorldQuant Ventures.

The company has developed a low-temperature plasma-assisted separation process (LPAS™), a patented technology for lithium-ion battery recycling. Princeton NuEnergy offers a wide range of services, including closed-loop lithium-ion battery recycling, service and technology licensing, total solution as a service, and second-life battery use. In addition, the firm produces cathode and anode materials by recovering and regenerating battery batteries from aged lithium-ion batteries.

The company plans to use its proceeds from November 2023 funding for new recycling facility construction and equipment procurement to further increase processing capacity and support company operations.

## Funding rounds

- Series A, Jun 17, 2024, $30M — Traxys, Samsung Venture Investment, Honda Motor Co., Ltd, LKQ Corporation, SCG Chemicals, Wistron Corporation, Helium-3 Ventures
- Series A, May 13, 2024, $10M — Tech Council Ventures, SCG Chemicals
- Series A, Nov 6, 2023, $16M — Traxys, Shell Ventures, Honda Motor Co., Ltd, WorldQuant Ventures, Wistron Corporation, GS Futures, Greenland Technologies Holding Corporation
- Series A, Oct 26, 2023, $24M — Traxys, Shell Ventures, Honda Motor Co., Ltd, WorldQuant Ventures, Cleantech Open, Wistron Corporation, GS Futures, AIBasis Fund
- Seed, Dec 1, 2021, $7M — Shell Ventures, WorldQuant Ventures, Cleantech Open, Wistron Corporation, AIBasis Fund, Greenland Technologies Holding Corporation.

## Investors

- Shell Ventures (https://capitalatlas.ai/funds/shell-ventures) — Seed, Series A
- WorldQuant Ventures (https://capitalatlas.ai/funds/worldquant-ventures) — Seed, Series A
- Cleantech Open (https://capitalatlas.ai/funds/cleantech-open) — Seed, Series A
- Wistron Corporation — Seed, Series A
- AIBasis Fund — Seed, Series A
- Greenland Technologies Holding Corporation. — Seed
- Traxys — Series A
- Honda Motor Co., Ltd — Series A
- GS Futures (https://capitalatlas.ai/funds/gs-futures) — Series A
- Greenland Technologies Holding Corporation — Series A
- Tech Council Ventures (https://capitalatlas.ai/funds/tech-council-ventures) — Series A
- SCG Chemicals — Series A
- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Series A
- LKQ Corporation — Series A
- Helium-3 Ventures (https://capitalatlas.ai/funds/helium-3-ventures) — Series A