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Benzinga
Benzinga
Business
Akanksha Bakshi

Greenland Partners With Princeton NuEnergy For Recycling Of Lithium-Ion Batteries

Greenland (Geopolitical Entity) GTEC PNE
  • Greenland Technologies Holding Corp (NASDAQ:GTEC) has entered into a strategic partnership agreement with Princeton NuEnergy Inc to recycle lithium-ion batteries.
  • Princeton NuEnergy is a technology developer focused on developing second-life battery solutions and closed-loop lithium-ion battery recycling.
  • These batteries are used in Greenland's electric industrial vehicles, including electric forklifts, electric loaders, and electric excavators.
  • Greenland and PNE will collaborate in identifying, negotiating, and supporting battery manufacturers by providing battery-grade recycled material to develop a revenue stream for PNE, while reducing the cost of battery procurement for Greenland.
  • Price Action: GTEC shares are trading higher by 5.30% at $5.17 on the last check Tuesday.
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