Rutgers EcoComplex supports PNE at its Clean Energy Innovation Center in Bordentown
Princeton NuEnergy Inc. (PNE), a New Jersey-based innovative clean-tech company incubated at the Rutgers EcoComplex “Clean Energy Innovation Center” in Bordentown, NJ, has been awarded a $12 million grant from the U.S. Department of Energy (DOE). PNE is focused on recycling, repurposing and commercializing lithium-ion battery (LIB) materials from EVs, consumer electronics, manufacturing scrap, and energy storage batteries. Founded at Princeton University in 2019, PNE has since been one of the companies incubated at the Rutgers EcoComplex, which is committed to moving inventions from the lab to successful real-world applications.
Compared to conventional methods, PNE’s process offers lower cost, a low carbon footprint and low hazardous emissions – all at a high recycling efficiency rate.
“The EcoComplex is proud to have supported PNE from the beginning of its innovation journey at our center. We are happy to provide our services and lend further support to PNE’s great innovation that earned this significant DOE funding,” said Serpil Guran, director of the Rutgers EcoComplex, a business incubator for clean energy and environmental innovations in New Jersey and the U.S.
The funding was granted by the Office of Energy Efficiency & Renewable Energy (EERE) at the DOE under the FOA-0002680: Bipartisan Infrastructure Law (BIL) Electric Drive Vehicle Battery Recycling and Second Life Applications initiative. The bill was signed into law by President Biden on November 15, 2021.
This grant was established to reduce the nation’s dependence on foreign materials, enhance domestic manufacturing capabilities, and create well-paying clean energy jobs. The grant award, comprising a $10 million federal cost share and $2 million recipient cost share, is a testament to the United States’ trust in direct recycling and upcycling technologies to advance the growth of emerging renewable technologies such as electric vehicles (EVs) and energy storage systems. This grant is the only award of a BIL DOE grant in the state of New Jersey.
According to Xiaofang Yang, Founder and Chief Technology Officer of PNE, “Winning the DOE grant is clearly an amazing achievement for the PNE team in a year full of amazing achievements. I would, of course, like to express my gratitude to the DOE EERE for believing in the potential of direct recycling and upcycling technology and helping us grow. We are excited to show how we can leverage this technology for the United States’ lithium-ion battery supply chain.”
Read more on the announcement of the DOE funding award to PNE.