Princeton NuEnergy is selected as National Grand Prize Winner to 2021 Cleantech Open

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Nov 05, 2021, 08:17 ET

BORDENTOWN, N.J., Nov. 5, 2021 /PRNewswire/ -- Princeton NuEnergy, Inc., an emerging growth company primarily engaged in the regeneration of Lithium-Ion Battery (LIB) material, is selected as National Grand Prize Winner to 2021 Cleantech Open.

Cleantech Open is a non-profit organization that runs the world's most extensive clean technology accelerator program for cleantech startups. This year, following a rigorous evaluation process, Princeton NuEnergy ("PNE") has been selected as the national winner in the 2021 Cleantech Open ("CTO"). As the national winner, PNE will have exclusive access to one of the world's only cleantech-specific expert mentors, connection to a high-level national network of influencers and entrepreneurs, visibility to the market, and a prize in the amount of $50,000.

Dr. Chao Yan, CEO of PNE stated, "Cleantech Open is a great platform to support us on business development, investor engagement, and customer base establishment. This award will help us with the execution of our pilot production line in Q1 2022. Additionally, the consulting and legal support will strengthen our position in intellectual property, business strategy, and marketing."

Each year, over 150 companies participate in one of the Cleantech Open US, Global Climate Innovation, or Global Ideas programs. Since 2005, CTO has trained over 1600 early-stage clean technology startup entrepreneurs through its annual business accelerator, raised $1.2 billion for implementation in renewable energy, energy efficiency, and clean transport, and created over 3,000 clean economy jobs.

CTO's mission is to find, fund, and foster entrepreneurs with ideas to solve the most significant environmental and energy challenges. It connects cleantech startups with the people and resources to accelerate their success and provides a national platform for public visibility through its annual business competition and accelerator program.

PNE's patented Novel Plasma Based Direct Li-ion Battery Recycling technology is one of the breakthrough innovations in clean tech, and thus awarded as the national winner of CTO. PNE technology saves energy use, reduces waste emissions, and potentially revolutionizes the material supply chain. Compared to the current traditional pyrometallurgical or hydrometallurgical methods in the battery recycling industry, PNE's technology can significantly shorten recycling time and costs, reduce waste generation, and produce high-performance, commercial-grade lithium-ion batteries materials for electric vehicles and personal electronics.

"PNE is accelerating the commercialization of battery direct recycling technology. We are currently constructing our 500-ton pilot line which will be operational next year. Our technology will be a game-changer for the battery recycling industry." said Dr. Xiaofang Yang, CTO of PNE.

Low carbon technologies with significant potential for long-term greenhouse gas emissions savings have become critical in creating a cleaner and more secure energy future. As such, technologies such as PNE's battery recycling process are of particular interest to achieve these goals. The recognition as the national winner of the 2021 CTO brings public acknowledgement and support for PNE to accelerate the commercialization of the PNE technology.

CONTACT:
Tina Liu
[email protected]

SOURCE Princeton NuEnergy