Cenntro Electric Group Ltd of Freehold, NJ and Princeton NuEnergy Inc (PNE) of Bordentown, NJ have announced a strategic partnership Letter of Intent (LOI) for spent lithium-ion battery feedstocks for recycled cathode materials and byproducts with Cenntro. The companies say that the intent of the partnership is to drive end-to-end sustainability in the EV sector using advanced lithium-ion battery powered vehicles and PNE recycling technology to reach net-zero emissions.
Dr Cahao Yan, founder of PNE, said, “We’re excited to collaborate with Cenntro in creating a closed-loop supply chain by retrieving, recycling, and regenerating battery-grade materials from end-of-life batteries. This strategic partnership brings a new element to the sustainability story as a manufacturer of energy-efficient and carbon-reducing technology. We look forward to creating sustainable, end-to-end solutions that will help us enhance technological innovation in battery recycling and create real impact.”
PNE says that its recycling process is 44% less costly than mined source materials and 39% less costly than traditional hydrometallurgical processes. Furthermore, PNE’s processes recover over 95% of critical elements in spent lithium-ion batteries, while emitting 70% less CO2 and utilizing 73% less energy when compared to traditional technologies.
Volume 36, Issue 11