Cenntro Electric rises on lithium-ion battery recycling deal
14/06/2022 18:02
** Shares of EV maker Cenntro Electric Group CENN.O rise
as much as 6.06% to $1.74
** Co and clean-tech start-up Princeton NuEnergy enter into
a partnership for recycling lithium-ion batteries urn:newsml:reuters.com:*:nBwc6264ra
** Princeton NuEnergy's battery recycling processes
significantly reduce costs, while emitting 70% less CO2 and
utilizing 73% less energy when compared to traditional
technologies
** "It is critical for our industry to recycle efficiently
to solve the ongoing scarcities of essential raw materials and
reduce the industry's reliance on environmentally intensive
mining for battery development" - CENN CEO Peter Wang
** Stock down ~67% YTD, as of last close
(Reporting by Rithika Krishna in Bengaluru)
((Rithika.Krishna@thomsonreuters.com; Twitter: https://twitter.com/rithika_krishna;))