Priceton NuEnergy, a Bordentown, NJ-based clean-tech startup, raised $7M in Seed funding.
The round was led by Wistron Corporation (TPE: 3231), with participation from Shell Ventures (NYSE: SHEL), Greenland Technologies (NASDAQ: GTECH), CleanTech Open, AIBasis Fund, WorldQuant Ventures, and the angel round investors.
The funds will be used by the company to accelerate development and scale up growth.
Led by CEO Dr. Yan Chao, Princeton NuEnergy is a clean-tech startup focused on the direct recycling of lithium-ion batteries from electric vehicles and consumer electronics. Direct Battery Recycling is a patented technology that produces high-quality, high-value-added cathode active material with low operating costs from used lithium-ion battery. It also delivers sustainable energy solutions and environmental solutions.
The company was spun out from Princeton University in 2019 by a founding team including:
- Founder and CEO, Dr. Yan Chao, who is from Princeton University;
- Co-Founder and CTO, Dr. Yang Xiaofang, who has a solid research background at Princeton University, Columbia University, and Brookhaven National Laboratory,
- Co-Founders and technical advisors Prof. Yiguang Ju and Prof. Bruce E. Koel, who are researchers at Princeton University.