Princeton NuEnergy, an innovative clean technology company, has chosen Chester County as the location where it will establish the company’s first South Carolina operation. The $11 million investment will create 41 new jobs.
“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,” said Governor Henry McMaster.
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.
“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,”
stated Princeton NuEnergy Co-Founder and CEO Dr. Chao Yan.
PNE’s 25,000-square-foot facility, will recycle lithium-ion batteries from EVs and manufacturing scrap to produce advanced blackmass and rejuvenated cathode active material.
“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,” said Secretary of Commerce Harry M. Lightsey III.
Operations are expected to be online in the third quarter of 2024.
“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,” said South Carolina I-77 Alliance Interim President and CEO Christopher Finn.
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.
