CENN - Cenntro Electric Group stock gains after signing new partnership

Cenntro Electric Group Limited (NASDAQ:CENN) shares gained strongly on Tuesday after entering into a new partnership with Princeton NuEnergy.  The new tie-up is aimed at driving “end-to-end sustainability in the EV sector using advanced lithium-ion battery-powered vehicles” and leveraging Princeton’s battery recycling technology. Specifically, the PNE recycling process is projected to cut costs by 44% as compared to mined source materials and is 39% less costly than traditional hydrometallurgical processes.  “We’re excited to collaborate with Cenntro in creating a closed-loop supply chain by retrieving, recycling, and regenerating battery-grade materials from end-of-life batteries,” PNE founder Dr. Chao Yan said. “This strategic partnership brings a new element to the sustainability story as a manufacturer of energy-efficient and carbon-reducing technology. We look forward to creating sustainable, end-to-end solutions that will help us enhance technological innovation in battery recycling and create real impact.” He added that the scarcity of raw materials utilized in battery

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Cenntro Electric Group stock gains after signing new partnership