- Greenland Technologies Holding (NASDAQ:GTEC) has signed a partnership agreement with technology developer Princeton NuEnergy.
- Under the deal, the companies plan to create a safe and sustainable recycling solution for end-of-life lithium-ion batteries used in Greenland's electric industrial vehicles including electric forklifts, electric loaders and electric excavators.
- "We have done extensive due diligence on options that could help us mitigate that potential supply chain bottleneck given our forecasts for accelerating growth and product line expansion. We think Princeton NuEnergy's innovative, proprietary process can be a real game changer for us and we are excited to be partnering together at this important juncture," said Raymond Wang, CEO of Greenland.
- Stock is up 4% in premarket trading.
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