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Benzinga

Akanksha Bakshi

Mar 8, 2022, 7:10 PM

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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