$11 million investment will create 41 new jobs
Princeton NuEnergy (PNE), an innovative clean technology company, today announced it selects Chester County to establish the company’s first South Carolina operation. The $11 million investment will create 41 new jobs.
Founded out of Princeton University in 2019, PNE recycles lithium-ion batteries from electric vehicles (EVs), consumer electronics, energy storage batteries and manufacturing scrap. The company’s patented direct recycling technology enables the production of high-quality battery materials to be produced at a lower cost and environmental impact than traditional recycling processes.
PNE’s 25,000-square-foot facility, located at 564 Ecology Lane in Chester, will recycle lithium-ion batteries from EVs and manufacturing scrap to produce advanced blackmass and rejuvenated cathode active material.
Operations are expected to be online in the third quarter of 2024. Individuals interested in joining the PNE team should visit the company’s .
The Coordinating Council for Economic Development approved job development credits related to the project. The council also awarded a $500,000 Rural Infrastructure Fund grant to Chester County.
Princeton NuEnergy is excited to establish the first Cathode Active Material (CAM) direct recycling manufacturing center in South Carolina. We will utilize our innovative pre-processing and Cathode-to-Cathode technologies we have developed for lithium-ion battery direct recycling and critical materials recovery. The advanced blackmass and rejuvenated battery-grade cathode active materials will play a crucial role in achieving a true domestic circular economy and supporting the growing number of auto manufacturers transitioning to electric vehicles. South Carolina is rapidly becoming a leader in the EV industry, and we are a proud partner with the state and Chester County on this transformative journey.
We are pleased to welcome Princeton NuEnergy to Chester County and South Carolina. The company’s new operation will have a significant impact in the community by creating 41 new jobs and advancing our state’s alternative energy sector.
Having innovative companies like Princeton NuEnergy in South Carolina furthers our state’s contribution to the circular economy. Given sustainability’s important role in remaining competitive, this partnership advances South Carolina’s reputation as an alternative energy leader.
Congratulations to Princeton NuEnergy on selecting Chester County for their first cathode active material direct recycling manufacturing center. Several of our council members were able to tour their pilot production line in McKinney, Texas and witness the technology first-hand. Their inventive solutions are impressive and showcase the company’s commitment to sustainable development and safety. We continue to see growth opportunities with EV-related projects.
With Princeton NuEnergy’s new manufacturing operation in Chester, the EV sector continues to grow alongside the I-77 corridor. We have seen several significant EV sector investments in our region in recent years. With a location between Columbia and Charlotte, our region is an ideal location for EV-related and supply chain projects!
This announcement is part of the growing EV and EV-related supply chain that is growing in South Carolina. We have continued to see an uptick in EV-related projects, and they currently comprise 20 percent of our overall project activity. We are in a great geography for these projects and have the most certified sites in the state.