Princeton NuEnergy (PNE) and Wistron GreenTech Announce Grand Opening of Lithium-Ion Battery Recycling Pilot Line in McKinney, Texas

BORDENTOWN, N.J., Oct. 25, 2022 /PRNewswire/ -- Princeton NuEnergy Inc. (PNE), a U.S.-based innovative clean-tech company focused on recycling, repurposing, and commercializing lithium-ion batteries (LIBs) materials from electric vehicles (EVs), consumer electronics, manufacturing scrap, and energy storage batteries, is delighted to announce the grand opening today of its Lithium-Ion Battery (LIB) Direct Recycling 500-ton pilot production line with Wistron GreenTech, a subsidiary of Wistron Corporation, in McKinney, Texas.

The joint pilot line hosts a full range of capabilities including state-of-the-art plasma equipment. As the first end-to-end, production-scale direct recycling line in the U.S., Princeton NuEnergy (PNE)'s proprietary technology directly processes LIB's ranging from consumer electronics to full EV battery packs. This highly modular facility has capacity to process up to 500 tons per year of LIB manufacturing scrap and end-of-life batteries.

Texas presents a significant opportunity for recycling because of the region's massive growth in all aspects of the emerging LIB supply chain. Texas leads in the design and manufacturing of advanced semiconductors, consumer electronics and world-class EVs.  As a result, it is only logical that Texas would play a major role in bringing end-of-life batteries back into this vibrant ecosystem economically, safely, and at an industrial scale. Texas is an energizer for virtually all aspects of today's high-tech manufacturing and energy economy.

This plant is an important part of PNE's commitment to accelerating sustainable battery technology Direct Recycling Technology is here today. Based on a unique, patented low-temperature plasma-assisted process (LPAS™), PNE reclaims and repairs cathode material from LIBs at half the cost with significantly lower waste versus traditional recycling processes according to analysis by Argonne National Labs.  Direct Recycling can be a fundamental building block in the US goal of retaining control over critical materials – a strategic problem as foreign entities control more and more of the technology supply chain.

Texas Governor, Greg Abbott, remarked, "Texas is a global leader in technology development and manufacturing, and we are excited to welcome Princeton NuEnergy's new lithium-ion battery recycling factory to McKinney. This new battery recycling facility will bring good-paying jobs and continued economic growth to North Texas and help our state further strengthen America's technology supply chain. The future of technology is in Texas, and I look forward to working with Princeton NuEnergy on their continuing success in our state."

"We are thrilled to announce that our joint pilot production line is now operational," said Dr. Yan Chao, Founder and CEO of PNE. "This fully-equipped facility is a powerful next step in our vision for covering a nationwide LIB close-loop recycling supply chain. We intend to be a major player in meeting the recycling needs of the US LIB marketplace. Our unique technology drastically reduces the time required for critical materials to re-enter the manufacturing supply chain – a major win for all LIB manufacturers.

"We are excited that PNE and Wistron's innovative battery recycling pilot production line will soon be launched operations," said Jeff Lin, President of Wistron Corporation. "Our joint pilot production line will increase Consumer Electronics, Storage and EV battery recycling capabilities, strengthen Texas's battery and electric vehicle supply chains and achieve our ESG goals."

Princeton NuEnergy works closely with Wistron GreenTech and other key partners to minimize the environmental footprint of the recycling process. PNE and Wistron GreenTech will create many new well-paid jobs with both competitive wages and a bright future.  Benefits include company supported, local STEM education to build employee skills. By encouraging domestic materials production and handling and working to build a more capable workforce, both companies will help contribute to American technical superiority in lithium-ion battery direct recycling and critical materials recovery.

Princeton NuEnergy (PNE) is a U.S.-based, innovative clean-tech company founded 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 (LPAS™), 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 lower cost, low carbon footprint, and low hazardous emissions – all at a high recycling efficiency rate.

To learn more about PNE, please visit: www.pnecycle.com.

Headquartered in McKinney, TX, Wistron GreenTech provides complete recycling services, including asset recovery and complete recycling of printed circuit boards, displays, plastics, batteries, and metals from various retired electronic devices. As a subsidiary of Wistron Corporation, a Fortune Global 500 member, Wistron GreenTech provides services that maximize the value of clients' assets, preserve the environment and employee health/safety and generate recycled materials that are reused in the production of new products rather than being discarded and land filled as waste.

To learn more about Wistron GreenTech, please visit https://greentx.wistron.com

Media Contact: Tina Liu, [email protected]

SOURCE Princeton NuEnergy