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.
PNE’s 25,000-square-foot facility, located at 564 Ecology Lane in Chester, will recycle lithium-ion batteries from electric vehicles (EVs) and manufacturing scrap to produce advanced blackmass and rejuvenated cathode active material.
- Founded out of Princeton University in 2019, PNE recycles lithium-ion batteries from EVs, consumer electronics, energy storage batteries and manufacturing scrap.
- The company’s patented direct recycling technology enables high-quality battery materials to be produced at a lower cost and environmental impact than traditional recycling processes.
- Operations are expected to be online in the third quarter of 2024.
- Individuals interested in joining the PNE team should visit the company’s careers page.
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.
QUOTES
“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 proud to partner with the state and Chester County on this transformative journey.”
-Princeton NuEnergy Co-Founder and CEO Dr. Chao Yan
“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.”
-Gov. Henry McMaster
“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”
-Secretary of Commerce Harry M. Lightsey III
“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 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.”
-Chester County Council Chairman Joe Branham
“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!”
-South Carolina I-77 Alliance Interim President and CEO Christopher Finn
FIVE FAST FACTS
- Princeton NuEnergy (PNE) selects Chester County for its first South Carolina operation.
- The company’s $11 million investment will create 41 new jobs.
- Princeton NuEnergy is an innovative clean technology company.
- The company will be located at 564 Ecology Lane in Chester, S.C.
- Individuals interested in joining the PNE team should visit the company’s careers page.
About S.C. Department of Commerce
As South Carolina’s leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. S.C. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Samsung, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. S.C. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. With a strong international footprint, the Palmetto State has consistently been among the top in the nation for attracting jobs through foreign direct investment on a per capita basis – recognized by multiple economic development publications for its pro-business climate. For more information, visit www.SCcommerce.com.
MEDIA CONTACT:
Kelly Coakley
Director of Marketing and Communications
South Carolina Department of Commerce
(803) 737-1998
