Princeton NuEnergy Announces Strategic Partnership with Wistron GreenTech and eTak Worldwide on Sustainable Direct Recycling Solution for Lithium-Ion Battery and Launch Pilot Project
BORDENTOWN, New Jersey, September 29, 2021 / PRNewswire / – Princeton NuEnergy, Inc., an emerging growth company primarily engaged in the regeneration of lithium-ion battery (LIB) material, today announced its partnership with Wistron GreenTech and eTak Worldwide. The partnership aims to democratize the direct recycling of lithium-ion batteries with reduced energy consumption, CO2 emissions and operating costs. The joint pilot project started in the summer of 2021 and aims to provide a standardized and reliable route for direct recycling and reuse of lithium-ion batteries on a large scale.
According to Verified Market Research, the global LIB market was valued at $ 36.35 billion in 2019 and should reach $ 115.98 billion by 2027, with a CAGR of 15.6% from 2020 to 2027. The main drivers of this market are the growing demand for electrification of consumer products and industrial equipment, and cleaner mobile energy. LIBs have been widely used in electric vehicles (EVs) and grid energy storage due to their high energy density and high power capacity. The growing order of LIB will drive an exponential increase in the demand for recycling, which is essential for recovering critical metals such as lithium, nickel and cobalt, thereby reducing the carbon footprint of battery-powered electronic and electric vehicles.
Princeton NuEnergy has developed cost-effective and environmentally friendly technology to directly recycle aged LIBs and regenerate battery materials for reuse in the construction of new batteries, super capacitors, portable consumer electronics and electric vehicles. The regeneration of battery materials occurs directly without requiring the complete decomposition of chemical compounds, creating an attractive route to dramatically reduce battery production costs and CO2 emissions.
Princeton NuEnergy (PNE), Wistron GreenTech and eTak will jointly invest and develop a pilot production line for the direct recycling of different types of LIB at Texas installation from summer 2021. Dr. Yan chao, Chairman and CEO of the company, said, âWe are very pleased to be working with Wistron GreenTech and eTak to provide an efficient battery recycling solution to the US market. PNE’s direct recycling technology integrates seamlessly with the expertise of Wistron and eTak. in the battery recycling market. This partnership and this pilot project strengthen our position in the development of a sustainable value chain for LIB batteries.
Wistron GreenTech is a subsidiary of Wistron Corporation, a member of the Fortune Global 500 and an industry leader in electronics recycling services. Jerry wang, the Managing Director, commented: âWistron GreenTech is delighted to expand our closed-loop battery recycling strategy by working with Princeton NuEnergy and eTak Worldwide. Recycling LIBs is a key part of Wistron’s supply chain and the achievement of the carbon footprint reduction commitment. , it is therefore vital that we approach this strategic direction. “
âThis partnership is a vital initiative for the eTak recycling business line,â said Richard lee, the COO of eTak Worldwide. Mr. Lee continued, âWe are delighted to launch our joint pilot project with advanced technology from Princeton NuEnergy, to solve the current challenges of recycling lithium-ion batteries. ETak is a leader in electronic recycling in the US market that provides a personalized electronic recycling service.
About Princeton NuEnergy
Based at Bordentown, New Jersey, Princeton NuEnergy is an innovative clean technology start-up derived from Princeton University in 2019 with more than 20 years of experience in research and development on battery recycling. PNE is successfully revolutionizing the materials supply chain with its patented direct battery recycling technology to produce high quality, high value-added cathodic active materials with low operating cost from used lithium-ion batteries and provides sustainable energy and environmental solutions. The enormity of the looming depleted battery situation is pushing PNE to commercialize its cost-effective and environmentally sustainable technology to embark on recycling the vast inventory of lithium-ion batteries looming on the horizon. For more information, please visit https://www.pnecycle.com/.
About Wistron GreenTech
Based at McKinney, Texas, Wistron GreenTech provides comprehensive recycling services, including asset recovery and full recycling of printed circuit boards, displays, plastics, batteries and metals from various discarded electronic devices. As a subsidiary of Wistron Corporation, a member of the Fortune Global 500, Wistron GreenTech provides services that maximize the value of customer assets, preserve the environment and employee health / safety and generate recycled materials that are reused in production. new products rather than being discarded and landfilled as waste. For more information, please visit http://greentx.wistron.com/en-global/Home/index.
About eTak around the world
ETak Worldwide is an electronics recycling company located in Grand Prairie, Texas, specialized in IT solutions and specialized in on-site dismantling. The company’s mission is to provide personalized electronic recycling services and IT solutions with a reliable, secure and environmentally friendly recycling process. By integrating with its global sourcing platform, supply chain solutions and asset recovery programs, eTak’s goal is to “make the world greener” by providing customers a reliable, secure, environmentally friendly and affordable electronic recycling service. For more information, please visit: https://www.etakworldwide.com/
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections regarding future events and financial trends which, in the opinion of the Company, could affect its financial condition, results of operations and strategy. business and financial needs. Investors may identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “intend” ” plan â,â believe â,â potential â,â continue â,â is / are likely to âor other similar expressions. The Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that these expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results.
For more information please contact:
Dr. Yan chao, CEO
Telephone: +1 (973) -818-3428
E-mail: [emailÂ protected]
Eric Huang, BD director
Wistron GreenTech (Texas) Corp.
E-mail: [emailÂ protected]
Richard lee, chief operating officer
eTak Worldwide Corp.
E-mail: [emailÂ protected]
SOURCE Princeton NuEnergy