Princeton NuEnergy

What Princeton NuEnergy does

Princeton NuEnergy (PNE) is a U.S. clean-tech company founded in 2019 as a spinout from Princeton University, developing and commercializing direct recycling technology for spent lithium-ion batteries. Its proprietary LPAS™ (Low-temperature Plasma-assisted Separation) process uses low-temperature plasma to separate and recover cathode and anode materials while preserving molecular structure, enabling Cathode-to-Cathode™ and Anode-to-Anode™ recycling. Supporting processes include MSAL™ (Micro-Molten Shell-Assisted Lithiation) for lithium replenishment and Upcycling™ for rejuvenating outdated cathode chemistries.

PNE operates three revenue streams: (1) sales of recycled battery-grade cathode active materials (NCM, LCO, NCA, LFP, LMFP) and anode materials (graphite-silicon composites) plus Advanced Black Mass (ABM™), (2) technology licensing of LPAS™ to manufacturers and recycling operators, and (3) Recycling as a Service (RaaS) for toll and on-site processing. Primary customer segments are EV manufacturers and battery cell manufacturers, with secondary segments in consumer electronics and grid-scale energy storage. The company sells exclusively through direct enterprise field sales and strategic partnerships, with no public pricing disclosed.

PNE operates three facilities: a commercial-scale Advanced Black Mass and cathode active material production facility in Chester, South Carolina (5,000 tpa operational August 2025, planned 15,000 tpa by 2026 and 50,000 tpa longer-term); a joint pilot facility with Wistron GreenTech in McKinney, Texas; and an R&D and materials testing center in Princeton, New Jersey. The company has raised approximately $55 million across seed ($7M), Series A ($30M total), and DOE/NSF grants (~$18M), with strategic investors including Wistron Corporation, Honda, Samsung Venture Investment Corporation, Shell Ventures, LKQ Corporation, Traxys, GS Futures, and Helium-3 Ventures.

Name

Princeton NuEnergy

Legal name

Princeton NuEnergy Inc.

Website

https://pnecycle.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Princeton NuEnergy is a U.S. clean-tech company that commercializes patented low-temperature plasma (LPAS™) direct recycling technology to recover and rejuvenate lithium-ion battery cathode and anode materials, serving EV manufacturers, battery makers, and energy storage providers through material sales, technology licensing, and recycling services.

Ownership category

akta.pro rank

Product category

Battery Recycling & Materials Manufacturing

NAICS

Materials Recovery Facilities (562920), Materials Recovery Facilities (56292), Battery Manufacturing (33591), Battery Manufacturing (335910), Hazardous Waste Treatment and Disposal (562211)

SIC

Refuse Systems (4953), Hazardous Waste Management (4955), Sanitary Services (4950)

akta.pro primary industry

Lithium-ion Battery Recycling (Mechanical, Hydro, Direct Recycling) (EUAIAIAF)

akta.pro secondary industries

Battery Recycling & Materials Recovery (Li-ion, LFP, Flow, Lead-Acid) (EUAMALAE), Battery Materials Refining & Re-Manufacturing Feedstocks (Li, Ni, Co, Mn, Graphite Salts) (EUAIAIAJ), Battery Scrap & Recycling Feedstock (Lead-Acid, Li-ion Black Mass Feedstock, NiMH) (IMAKAMAH)

Keywords

• Battery recycling
• Direct recycling technology
• Cathode materials
• Advanced black mass
• Lithium-ion recycling

Headquarters

HQ city

Bordentown

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Infrastructure, Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Recycled Battery Materials Sales: Revenue generated from selling recovered cathode materials (LFP, NMC, NCA) and anode materials (graphite) to battery manufacturers for use in new battery production. Materials maintain sufficient quality for direct reuse.
2. Technology Licensing: Licensing of LPAS™ technology and processes to battery manufacturers and recycling companies. Provides equipment, processes, and training for implementing direct recycling technology.
3. Recycling as a Service (RaaS): On-site or toll-based recycling services where PNE processes spent batteries for clients, charging service fees for material recovery and processing.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Princeton NuEnergy manufactures and sells rejuvenated cathode active materials and advanced black mass recovered from spent lithium-ion batteries using its proprietary LPAS™ (Low-temperature Plasma-assisted Separation) direct recycling technology. The company also licenses its LPAS™ process and operates toll-based Recycling as a Service (RaaS) for battery manufacturers, EV OEMs, and energy storage companies.

Product overview

Princeton NuEnergy operates as a unified platform built around its patented LPAS™ (Low-Temperature Plasma-assisted Separation) direct recycling technology. The platform encompasses three core commercial priorities: (1) Rejuvenated Cathode Active Materials produced through Cathode-to-Cathode™ direct recycling and Upcycling™ processes, (2) Advanced Black Mass (ABM™) manufacturing, and (3) supporting services including Recycling As A Service, Technology Licensing, and Materials Testing Services. The company produces a portfolio of battery-grade materials including NCM, LCO, NCA, LFP, and LMFP cathode materials plus graphite-silicon composite anode materials, all processed through its proprietary LPAS™ platform that integrates MSAL™ for lithium replenishment. Facilities in South Carolina (commercial), New Jersey (pilot/testing), and Texas (joint pilot with Wistron) support the full product lifecycle from recycling through material production.

Differentiator

Problem solved

Functional benefit

Brands

• LPAS™ (Low-Temperature Plasma-assisted Separation): Patented direct recycling technology that enables repair and rejuvenation of cathode and anode materials without breaking down chemical compounds, reducing energy and chemical consumption
• Advanced Black Mass (ABM™)
• Cathode-to-Cathode™
• Upcycling™
• MSAL™ (Micro-Molten Shell-Assisted Lithiation)

Products and services

• Rejuvenated Cathode Active Materials (CAM) Battery-grade cathode active materials including NCM, NCA, LCO, LFP, and LMFP produced through direct recycling using LPAS™ and Cathode-to-Cathode™ processes. Materials meet or exceed OEM expectations and exhibit performance comparable to virgin cathode materials, validated by Argonne National Laboratory. Sold to lithium-ion battery cell manufacturers.
• Advanced Black Mass (ABM™) High-purity black mass produced from spent lithium-ion batteries and manufacturing scrap at PNE's commercial-scale recycling facility in Chester, South Carolina. Serves as feedstock for downstream battery material production with over 97% recovery yield. Current capacity 5,000 tpa with planned expansion to 15,000 tpa in 2026 and 50,000 tpa as market demand grows.
• Battery-Grade Anode Materials Upcycled graphite-silicon composite and recycled graphite anode materials produced through LPAS™ Anode-to-Anode™ technology for direct reintroduction into battery manufacturing.
• Recycling As A Service (RaaS) Turn-key LPAS™ direct recycling service offering equipment, chemicals, technical services, maintenance, and technology licensing for battery recycling operations. Provided on-site or toll-based at PNE-operated facilities for companies seeking to recycle spent batteries without investing in their own processing infrastructure.
• Technology Licensing Licensing of LPAS™ direct recycling technology to partners in lithium-ion battery manufacturing and electric vehicle verticals to reduce operating costs and secure supply of battery materials. Includes equipment, processes, and training for implementing direct recycling capabilities.
• Materials Testing Services Comprehensive powder characterization including BET surface area analysis, X-ray diffraction, particle size analysis, SEM imaging, ICP spectrometry, and electrochemical analysis for third-party validation of recycled and virgin battery materials.

Quantifiable outcome

• Reduces battery recycling energy consumption by 70-80% compared to conventional methods
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core, flagship and supporting.

• Honda Motor Co., Ltd.coreStrategic or Co-development Partner · 5 January 2026Signed MOU on January 5, 2026 for battery recycling collaboration. PNE will provide direct recycling technology services for Honda's end-of-life battery materials, supporting Honda's sustainability goals and circular economy initiatives for EV batteries.
• Wistron CorporationcoreStrategic or Co-development PartnerStrategic partner that led seed funding and established a joint pilot facility in McKinney, Texas. The partnership focuses on battery recycling technology development and scale-up, combining Wistron's manufacturing expertise with PNE's LPAS™ technology.
• Traxys North AmericaflagshipStrategic or Co-development PartnerSigned MOA (Memorandum of Agreement) for battery sustainability initiatives. Traxys, a global metals and minerals trader, will support PNE's material distribution and market access for recovered battery materials.
• Argonne National LaboratorycoreTechnology or IntegrationOngoing R&D collaboration with Argonne's Battery Recycling R&D Center. Leverages Argonne's expertise in battery characterization and recycling process optimization to enhance PNE's direct recycling technology.
• National Renewable Energy Laboratory (NREL)supportingTechnology or IntegrationTechnical collaboration on battery recycling processes and energy efficiency optimization. NREL provides testing, validation, and performance characterization support for recycled battery materials.
• Oak Ridge National Laboratory (ORNL)supportingTechnology or IntegrationR&D collaboration leveraging ORNL's advanced materials characterization capabilities and battery testing infrastructure to validate recycled material performance.
• UC IrvinesupportingTechnology or IntegrationAcademic collaboration for battery recycling research and development, including student talent and research capabilities in battery materials science.
• Princeton Plasma Physics LaboratorycoreTechnology or IntegrationOrigination point for LPAS™ technology development. The plasma physics expertise from this Princeton University laboratory enabled the development of the low-temperature plasma-assisted separation process.

Scale indicators3 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Li-Cycle: Publicly traded lithium-ion battery recycler operating Spoke & Hub network in North America and Europe. Most direct competitor to PNE's Li-ion recycling platform, though Li-Cycle's Spokes primarily produce black mass rather than rejuvenated CAM.
• Redwood Materials: Nevada-based battery recycling and cathode-active-material producer founded by former Tesla CTO JB Straubel, backed by Amazon, Ford, Toyota, Panasonic, and Volkswagen. Competes with PNE for OEM offtake and in the U.S. domestic recycling market.
• Ascend Elements: Massachusetts-based lithium-ion battery recycler using a hydrometallurgical direct-recycling process to produce cathode precursor and black mass. Closely comparable to PNE's Cathode-to-Cathode™ approach and a competitor for OEM supply contracts.
• Cirba Solutions: U.S. battery materials and recycling company (formerly Battery Solutions) operating collection, sorting, and processing for lithium-ion and other batteries. Direct competitor in the U.S. battery recycling value chain with broader ITAD and e-waste capabilities.
• Element 79 Energy: U.S.-focused lithium-ion battery recycling company pursuing both hydrometallurgical processing and strategic feedstock partnerships. Competes for OEM and end-of-life battery feedstock contracts in the North American market.

Broad incumbents

• Umicore: Belgian global materials technology group with a large battery materials and recycling business. Operates hydrometallurgical recycling at industrial scale in Europe and competes with PNE for OEM supply, though focused on traditional pyrometallurgical/hydrometallurgical flowsheets rather than direct cathode rejuvenation.
• Glencore: Global mining and commodity trading conglomerate with significant battery recycling and cobalt/nickel refining operations through its Sudbury smelter and European plants. Competes with PNE on commodity black mass offtake and recovery scale.

Emerging players

• OnTo Technology: U.S. startup developing direct cathode-to-cathode recycling processes including a hydrothermal direct recycling approach. Comparable technology profile to PNE's LPAS but at an earlier commercialization stage.

Regional players

• GEM Co. China-based battery recycling and new-energy materials leader with large-scale hydrometallurgical operations across Asia. Comparable technology and scale to PNE's ambitions but operating primarily in the Chinese market with regulatory and IP environments differing from PNE's U.S. base.
• SungEel HiTech: South Korea-headquartered battery recycler with operations across Asia, Europe, and North America. Comparable lithium-ion black mass and precursor production, particularly relevant given PNE's strategic ties to Korean conglomerates (SK On alumnus CFO, GS Futures investor).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/pne_cycle
• YouTubeyoutube.com/@pnecycle
• Facebookfacebook.com/pnecycle
• LinkedInlinkedin.com/company/princeton-nuenergy
• Instagraminstagram.com/pnecycle

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds12 records

Investors19 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Princeton NuEnergy