(File/Xuanyu Han/Getty Images)
CHESTER — A third lithium-ion battery recycling company plans to open a facility in South Carolina.
Princeton NuEnergy announced Thursday it would invest $11 million to open a recycling plant in Chester County. The company recycles lithium-ion batteries from electric vehicles and electronics, as well as batteries used to store energy generated by renewable power sources such as solar. It also recycles manufacturing scrap.
It plans to employ 41 people at a 25,000-square-foot facility located about 30 miles from the North Carolina state line.
“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,” PNE’s CEO Chao Yan said in a statement.
PNE joins other batter recyclers locating in the state — Redwood Materials in Berkeley County and Cirba Solutions’ planned location in Richland County.
A possible $1.3 billion lithium processing facility near Richburg in rural Chester County remains on pause. Albemarle Corp. was supposed to break ground this year on what it was calling its “Mega-Flex” processing plant, which would have employed 300 people. Instead, the company told investors in February it would hold off building the facility, large enough to produce lithium for 2.4 million electric vehicles annually, as prices for the battery metal have tanked from highs in 2022.
Major electric vehicle lithium project paused. Other SC battery recycling investments continue.
Founded out of Princeton University in 2019, PNE says it’s able to recycle batteries at a lower cost with less impact on the environment than its competitors. It did not say how much of the lithium and metal material it plans to produce.
PNE expects to begin recycling this fall.
“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 Lightsey.
Several county council members toured the company’s pilot production line in McKinney, Texas, and is considering a property tax deal for the company.
“Their inventive solutions are impressive and showcase the company’s commitment to sustainable development and safety,” said Chester County Council Chairman Joe Branham.
PNE also is in line for state income tax credits, worth more than $20,000 for each of the 40 jobs added, and it received a $500,000 state grant to pay for roads and utility needs.
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