WEBVTT - BI Weekend: NJIT Science & Tech, Boeing Earnings 0:00:00.280 --> 0:00:11.400 Bloomberg Audio Studios, Podcasts, radio News. This is Bloomberg Intelligence 0:00:11.560 --> 0:00:13.680 with Alex Steel and Paul Sweeney. 0:00:13.760 --> 0:00:16.959 The real app performance has been in US corporate high yield. 0:00:17.160 --> 0:00:19.520 Are the companies lean enough? Have they trimmed all the fats? 0:00:19.600 --> 0:00:23.200 The semiconductor business is a really cyclical business. 0:00:22.880 --> 0:00:26.560 Breaking market headlines and corporate news from across the globe. 0:00:26.600 --> 0:00:29.040 Do investors like the M and A that we've seen? 0:00:29.240 --> 0:00:30.200 These are two. 0:00:30.120 --> 0:00:32.199 Big time blue chip companies. 0:00:32.479 --> 0:00:36.199 Window between the peak and cunt changing super fast. 0:00:36.120 --> 0:00:41.160 Bloomberg Intelligence with Alex Steele and Paul Sweeney on Bloomberg Radio. 0:00:42.640 --> 0:00:45.080 On Today's Bloomberg Intelligence Show, we dig inside the big 0:00:45.120 --> 0:00:48.000 business stories impacting Wall Street and the global markets. Each 0:00:48.040 --> 0:00:50.040 and every week we provide in depth research and data 0:00:50.120 --> 0:00:51.920 on some of the two thousand companies and one hundred 0:00:51.920 --> 0:00:55.160 and thirty industries our analysts cover worldwide. Today, well look 0:00:55.160 --> 0:00:58.240 at why the planemaker Boeing reported first quarter results that 0:00:58.360 --> 0:01:02.160 exceeded Wall Street's expectation. Plus we'll discuss how one company 0:01:02.280 --> 0:01:07.559 develops advanced technologies for recycling lithium ion batteries. But first 0:01:07.680 --> 0:01:09.720 we would begin with some of our best conversations this 0:01:09.800 --> 0:01:13.039 week from the New Jersey Institute of Technology. This week 0:01:13.120 --> 0:01:15.560 co hosts Alex Steele and I, we're at NJIT where 0:01:15.560 --> 0:01:18.199 they enroll more than thirteen thousand students and are really 0:01:18.240 --> 0:01:22.520 some of the leaders of science and technology in the US. There, 0:01:22.560 --> 0:01:27.080 we spoke with Wunmi Sadic NJIT, Distinguished Professor of Chemistry 0:01:27.080 --> 0:01:30.679 and Environmental Science and founder of the Biosmart Center. She 0:01:30.760 --> 0:01:34.600 discussed the development of nanoscience analytical sensors for measuring pain 0:01:34.959 --> 0:01:37.679 in the human body, and I first asked Wunmi to 0:01:37.800 --> 0:01:40.800 talk about what she's working on in the Biosmart Center. 0:01:41.120 --> 0:01:45.959 The Biosmas Center, our goal is to look for sustainable 0:01:46.120 --> 0:01:51.120 materials in terms of chemistry, to create technologies that will 0:01:51.200 --> 0:01:57.360 help people. One of us technologies actually, you know, to 0:01:57.440 --> 0:02:03.800 detect pain. Over one hundred US adults live with chronic 0:02:03.880 --> 0:02:11.440 pain and more than ten million individuals struggle with prescription medications. 0:02:11.960 --> 0:02:15.320 But every time you go to the hospital and the clinicians, 0:02:15.639 --> 0:02:19.720 physicians are required to measure pain. And the only way 0:02:19.720 --> 0:02:25.160 we do that, despite advancement, is to show you a 0:02:25.200 --> 0:02:26.600 facial skills. 0:02:27.360 --> 0:02:29.360 They wear on the scale, like what faces are you 0:02:29.440 --> 0:02:29.919 right now? 0:02:30.080 --> 0:02:30.440 Exact? 0:02:30.520 --> 0:02:33.040 So what would your research be able to do. 0:02:33.400 --> 0:02:38.080 So Basically, my research says pain is biochemical in nature, 0:02:39.240 --> 0:02:42.480 and when you have chronic pain, there's a lot of inflammation. 0:02:43.400 --> 0:02:47.359 And when there's inflammation, there are chemicals that are biochemicals 0:02:47.360 --> 0:02:51.400 that are produced by the body. By measuring, first of all, 0:02:51.440 --> 0:02:55.560 by knowing those biochemicals and measuring how much they are, 0:02:55.919 --> 0:02:59.359 we can relate this to pain that people are feeling. 0:03:00.000 --> 0:03:04.720 You don't need the subjective approach to measure pain because 0:03:04.760 --> 0:03:08.119 if you have infants, for example, if you have elderly, 0:03:08.240 --> 0:03:10.680 if you have people who are conscious, they're not able 0:03:10.720 --> 0:03:14.080 to articulate their pain. And so you can actually use 0:03:15.320 --> 0:03:18.800 our bio sensors or smart biosensors to give you the 0:03:18.880 --> 0:03:20.519 level of pain that people are going through. 0:03:20.560 --> 0:03:22.280 So where are you in terms of your. 0:03:22.200 --> 0:03:27.320 Research our sensors that are being used currently? Uh you know, 0:03:27.919 --> 0:03:32.400 you know, we have collaborators in opposite New York and 0:03:32.960 --> 0:03:38.360 they take human blood samples and they measure the levels 0:03:38.400 --> 0:03:45.800 of molecules called cyclopgenis too or inducible nitros oxide and taste, 0:03:46.360 --> 0:03:49.760 and they measure the level. We combine this with artificial 0:03:49.880 --> 0:03:54.480 intelligence to be able to give you the exact amount 0:03:54.560 --> 0:03:57.800 of pain that people are going through. And for the 0:03:57.880 --> 0:04:01.640 most part, we've been able to think the level that 0:04:01.800 --> 0:04:05.640 people suggest to the level that we're majoring from. 0:04:05.680 --> 0:04:10.800 Ours are how far away from like regular doctors and nurses. 0:04:10.560 --> 0:04:12.800 Using it in hospitals currently? 0:04:12.960 --> 0:04:16.080 I mean it's we've looked at close to one thousand 0:04:16.279 --> 0:04:21.360 individuals and we're getting eighty percent accuracy in terms of 0:04:21.640 --> 0:04:24.200 what people tell you. At the end of the day, 0:04:24.360 --> 0:04:28.840 pain is also individualistic, right, There are aspects of pain 0:04:29.440 --> 0:04:32.120 that you know, you know it depends on individuals. 0:04:32.160 --> 0:04:34.200 You have pay tolerance, right exactly. 0:04:34.360 --> 0:04:36.520 You know you have you know, you have saturation, you 0:04:36.600 --> 0:04:39.919 can so there are so many other components that impacted. 0:04:40.440 --> 0:04:42.960 But in terms of being able to actually test this out, 0:04:43.120 --> 0:04:44.240 we're doing this already. 0:04:44.880 --> 0:04:47.359 So how does doing research at a place like an 0:04:47.440 --> 0:04:49.440 NJAI T How does that work? How do you balance 0:04:49.600 --> 0:04:52.400 like I guess, research with teaching and all that, because 0:04:52.400 --> 0:04:54.679 I know most professors have to deal with that across 0:04:54.920 --> 0:04:55.760 various disciplines. 0:04:56.640 --> 0:05:01.760 In actual fact, there's correlation because in the classroom I 0:05:02.360 --> 0:05:06.360 teach graduate students, I teach them the fundamentals, and then 0:05:06.440 --> 0:05:10.240 we take it further from the classroom and actually do 0:05:10.400 --> 0:05:12.640 this in the lab, and so there is a connection 0:05:12.839 --> 0:05:15.239 between what you do in the classroom, what you're teaching 0:05:15.279 --> 0:05:17.520 the classroom, and what you're actually doing your love. 0:05:19.040 --> 0:05:22.560 We talk a lot on Bloomberg here about tariff risks, 0:05:22.600 --> 0:05:24.080 but economic risks. 0:05:24.480 --> 0:05:26.560 About products being in short supply. 0:05:27.640 --> 0:05:30.120 Is any of that relevant to the work that you do, Like, 0:05:30.160 --> 0:05:34.000 are you worried about getting certain materials or products to 0:05:34.240 --> 0:05:36.640 fund and continue moving your research along? 0:05:37.680 --> 0:05:41.160 Suddenly we're going to be affected because, as you know, 0:05:41.560 --> 0:05:45.080 most research at the momental funded by the federal government, 0:05:45.760 --> 0:05:51.360 and so if there's less funding, there's less time that 0:05:51.600 --> 0:05:53.600 will not be able to support students to be able 0:05:53.640 --> 0:05:57.359 to do the work, and so ultimately it will impact 0:05:57.760 --> 0:06:00.400 our research. It would impact the classroom. 0:06:00.320 --> 0:06:00.960 And what we do. 0:06:01.720 --> 0:06:03.560 What's the next step for you in your research? 0:06:03.760 --> 0:06:03.960 Are you? 0:06:04.040 --> 0:06:08.039 Are you working with a team other professors, maybe other universities. 0:06:08.600 --> 0:06:09.360 What's your team work? 0:06:09.480 --> 0:06:12.640 Like my team at at the moment we have six 0:06:12.880 --> 0:06:17.600 PhD students, we have post dogs, we have clinicians that 0:06:17.680 --> 0:06:19.839 are working with us. We have computer scientists who are 0:06:19.920 --> 0:06:23.680 looking at the AI component of our work. So it's 0:06:23.760 --> 0:06:25.520 a whole center activity. 0:06:26.120 --> 0:06:28.600 How did you come to research this particular part? 0:06:28.720 --> 0:06:31.120 I always find that really fascinating when you like narrow 0:06:31.160 --> 0:06:33.600 it down, like the field must be so broad, right, 0:06:33.760 --> 0:06:35.080 Like why measuring pain? 0:06:36.279 --> 0:06:38.400 That's a very good I'm sorry, that's a very good 0:06:38.480 --> 0:06:42.640 question because I have always developed sensors for different things. 0:06:42.680 --> 0:06:46.160 We developed sensors or the environment. We developed sensors to 0:06:46.279 --> 0:06:49.400 measure different things. But I had a friend whose daughter 0:06:50.160 --> 0:06:55.440 was suffering from sickle cell and you know, and she asks, 0:06:55.600 --> 0:06:59.240 you know a view. You know, many times she's in crisis. 0:07:00.200 --> 0:07:04.240 Physicians scientificately, they cannot really assess what No, she's in pain. 0:07:04.839 --> 0:07:06.479 And I thought, well, that should be easy. 0:07:06.520 --> 0:07:10.320 As long as we can find a particular molecule, we 0:07:10.440 --> 0:07:11.200 can measure that. 0:07:11.760 --> 0:07:15.440 And I thought somebody should have done that. It seems 0:07:15.440 --> 0:07:17.840 so obvious. Now I'm kidding, but we did. 0:07:17.960 --> 0:07:20.240 We looked in literature and we'll realize it's actually no. 0:07:20.960 --> 0:07:24.520 And this is where we studied the work fifteen years ago. 0:07:24.800 --> 0:07:28.840 Oh thanks to one Sadi Njit, Distinguished Professor of Chemistry 0:07:28.880 --> 0:07:31.880 and Environmental Science. We continue with some of the best 0:07:31.920 --> 0:07:35.440 conversations from NJIT. Their co hosts Alex Steel and I 0:07:35.480 --> 0:07:40.080 spoke with Eric Fortune NJIT, Associate Professor of Biological Sciences. 0:07:40.680 --> 0:07:42.960 Eric discussed how he recently led a team of scientists 0:07:43.000 --> 0:07:45.520 in a contest to see who could count the most 0:07:45.760 --> 0:07:49.560 creatures in a square kilometer of the Amazon rainforest, and 0:07:49.680 --> 0:07:51.760 his team walked away with a five million dollar prize 0:07:51.760 --> 0:07:55.679 awarded by X Prize Foundation at the G twenty Social 0:07:55.720 --> 0:07:58.360 Summit in Rio de Janeiro. I first asked Eric to 0:07:58.400 --> 0:08:00.760 walk us through what his experience was like and how 0:08:00.800 --> 0:08:01.120 he did it. 0:08:01.480 --> 0:08:05.840 Well, it's a super exciting project that we were part of. 0:08:06.440 --> 0:08:09.760 It was sponsored by this group called the X Prize, 0:08:10.000 --> 0:08:16.920 and their goal is to incentivize fields where otherwise there 0:08:16.960 --> 0:08:20.920 weren't sufficient finances to drive things. So they feel like 0:08:21.000 --> 0:08:25.520 they're responsible for the current space exploration that's occurring in 0:08:25.600 --> 0:08:28.840 the private sector because they sponsored Next Prize thirty years 0:08:28.840 --> 0:08:32.120 ago that drove that market. So their goal with this 0:08:32.400 --> 0:08:36.319 X Prize was to drive the same kind of development 0:08:36.440 --> 0:08:40.480 and innovation in the area of biodiversity. So their rules 0:08:40.600 --> 0:08:43.679 were that they would give us a few months ahead 0:08:43.679 --> 0:08:48.000 of time, a random location in some rainforest on the planet, 0:08:48.240 --> 0:08:52.520 give us one day to sample with only drones and 0:08:52.679 --> 0:08:56.120 other kinds of remote sensing technologies. No human was allowed 0:08:56.160 --> 0:08:59.160 to go into this square kilometer, and then forty eight 0:08:59.200 --> 0:09:02.880 hours to analyze the data and provide a report about 0:09:02.920 --> 0:09:05.120 the biodiversity that we encountered in that time. 0:09:05.640 --> 0:09:08.040 What did you find here? Findings? What was the bio 0:09:08.200 --> 0:09:10.440 I can't think of a more biodiverse area maybe than 0:09:10.480 --> 0:09:11.000 a rainforest. 0:09:11.120 --> 0:09:15.600 Well, we went to perhaps the most biodiverse place on Earth. 0:09:15.679 --> 0:09:19.760 So this was a habitat in the Amazon rainforest. And 0:09:20.080 --> 0:09:23.400 so we had a square kilometer just outside of Manaos 0:09:23.920 --> 0:09:27.160 in Brazil, and so we deployed our drones and these 0:09:27.240 --> 0:09:30.640 devices that sat on top of the rainforest canopy and 0:09:30.720 --> 0:09:35.319 they collected insects and sound and environmental DNA, and we 0:09:35.440 --> 0:09:39.520 were able to take like twenty seven million samples of 0:09:39.840 --> 0:09:44.760 genetic information from the forest, identified more species of birds 0:09:44.800 --> 0:09:46.880 that exist in all of North America in this one 0:09:47.840 --> 0:09:51.880 one kilometer area, and then measure hundreds of thousands of 0:09:52.440 --> 0:09:55.439 insects all in this twenty four hour period. It's really unprecedented. 0:09:55.520 --> 0:09:57.880 So okay, so you take this, you analyze that you 0:09:57.920 --> 0:09:59.400 have a tremendous amount of research. 0:09:59.679 --> 0:10:03.480 Then what then what? Well, that's I think the big 0:10:03.600 --> 0:10:07.560 problem that Exerprise is trying to identify, which is first 0:10:07.600 --> 0:10:09.719 to develop the technology so that we can do this 0:10:09.880 --> 0:10:12.600 kind of analysis, and then the next steps the part 0:10:12.640 --> 0:10:14.400 that we're in now is to try and develop and 0:10:14.520 --> 0:10:19.160 address the market for biodiversity monitoring, not only in rainforest 0:10:19.240 --> 0:10:23.600 and critically important habitats like the Amazon Basin, but across 0:10:23.679 --> 0:10:24.120 the planet. 0:10:24.720 --> 0:10:28.200 So what are the next technological frontiers for monitoring. 0:10:29.200 --> 0:10:34.199 So we've now developed and tested and proven these technologies, 0:10:34.240 --> 0:10:37.640 so our goal now is to translate these things into businesses. 0:10:38.280 --> 0:10:41.679 So our team alone has generated six or seven new 0:10:41.760 --> 0:10:45.440 businesses that are each focusing on components of this biodiversity 0:10:45.520 --> 0:10:48.880 monitoring that are entering the market at this moment. And 0:10:48.960 --> 0:10:51.760 the other teams that we compete it with, some of 0:10:51.840 --> 0:10:54.880 their teams are also generating these new companies, new companies 0:10:54.920 --> 0:10:59.840 that do things like monitoring environmental DNA at a particular location. 0:11:00.040 --> 0:11:03.800 So if you're building a power plant somewhere along an 0:11:03.920 --> 0:11:06.560 endangered forest, you want to know what your impacts are. 0:11:06.679 --> 0:11:10.480 You measure the environmental DNA to know what species were 0:11:10.520 --> 0:11:14.079 there before andies what your impact is on species later. 0:11:14.720 --> 0:11:17.240 Do sense changing winds out there in terms of funding, 0:11:18.040 --> 0:11:21.439 terms of support for biodiversity and just environment in general. 0:11:21.800 --> 0:11:25.959 Well, I mean it's complicated, of course with changing political winds, 0:11:26.040 --> 0:11:29.079 but we all live on this planet and that's not changing, 0:11:29.120 --> 0:11:31.120 and I think anyone of our age and I don't 0:11:31.160 --> 0:11:34.240 mean to say anything about how old any of us are, 0:11:34.400 --> 0:11:39.160 but it's inescapable that during your lifetime you have observed 0:11:39.240 --> 0:11:43.839 changes in climate and in biodiversity that occurs, and so 0:11:45.320 --> 0:11:48.079 whether we like it or not, this is something that 0:11:48.200 --> 0:11:49.959 we're going to have to deal with. The question I 0:11:50.000 --> 0:11:52.400 think from a business perspective, of course, is what's the 0:11:52.480 --> 0:11:55.160 time horizon of that? Is it one year, ten years, 0:11:55.400 --> 0:11:58.120 one hundred years? And that's a complicated thing that I 0:11:58.240 --> 0:11:59.559 am not equipped to answer. 0:12:00.600 --> 0:12:01.600 What's next for you guys? 0:12:02.240 --> 0:12:06.320 So I'm personally. I've started a company that came out 0:12:06.360 --> 0:12:10.200 of this X Prize competition, and so we have our 0:12:10.240 --> 0:12:14.360 first order, and so I'm busy building things, building these 0:12:14.440 --> 0:12:17.079 high tech devices that are deployable into these kinds of 0:12:17.160 --> 0:12:20.320 habitats that collect this kind of data. And we see 0:12:20.360 --> 0:12:23.079 that as at least on a small scale, a sustainable 0:12:23.120 --> 0:12:26.520 business for quite quite some time. Anyone who owns land 0:12:26.559 --> 0:12:30.400 and is interested in in the biodiversity there, starting with 0:12:30.559 --> 0:12:34.360 like national parks or local and city parks, or any 0:12:34.400 --> 0:12:37.679 other business that have large landing holdings, they're going to 0:12:37.800 --> 0:12:42.520 need over time devices like this to answer regulatory and 0:12:43.320 --> 0:12:47.280 their customers demands about biodiversity. 0:12:47.000 --> 0:12:49.840 Our thanks to air Fortune and j It Associate Professor 0:12:49.880 --> 0:12:52.760 of Biological Sciences. Coming up will break down what it 0:12:52.880 --> 0:12:55.480 means to stimulate the brain and the benefits that come 0:12:55.559 --> 0:12:58.560 with it. You're listening to Bloomberg Intelligence on Bloomberg Radio, 0:12:58.800 --> 0:13:01.280 providing end up research and data on two thousand companies 0:13:01.320 --> 0:13:03.840 and one hundred and thirty industries. You can access Bloomberg 0:13:03.880 --> 0:13:06.640 Intelligence via Bigo on the terminal. I'm Paul Sweeney. 0:13:06.960 --> 0:13:08.200 This is Bloomberg. 0:13:13.640 --> 0:13:17.320 You're listening to the Bloomberg Intelligence podcast. Catch us live 0:13:17.440 --> 0:13:20.480 weekdays at ten am Eastern on Apple, Cocklay and Android 0:13:20.520 --> 0:13:23.800 Auto with the Bloomberg Business App. Listen on demand wherever 0:13:23.880 --> 0:13:27.000 you get your podcasts, or watch us live on YouTube. 0:13:28.160 --> 0:13:30.959 We continue with some of our best conversations this week 0:13:31.040 --> 0:13:33.840 from the New Jersey Institute of Technology co hosts Alex 0:13:33.840 --> 0:13:36.520 Steele and Irat and Jit, where they enrolled more than 0:13:36.559 --> 0:13:39.320 thirteen thousand students and are really some of the leaders 0:13:39.400 --> 0:13:42.679 of science and technology in the US. There, we spoke 0:13:42.760 --> 0:13:47.000 with chaw yon Njit, alumnus, co founder and CEO Princeton 0:13:47.200 --> 0:13:50.800 New Energy also known as PNE. He discussed how P 0:13:50.960 --> 0:13:55.400 and E develops advanced technologies for recycling lithium ion batteries. 0:13:55.440 --> 0:13:57.360 I first asked Chow to talk about his company and 0:13:57.440 --> 0:13:58.280 what they're trying to do. 0:13:59.040 --> 0:14:01.920 So President Edit, we have a great technology and the 0:14:02.040 --> 0:14:06.040 using plasma to recycle LiTi ion battery with much lower 0:14:06.120 --> 0:14:10.680 cost roughly forty fifty percent lower than the traditional recycling 0:14:10.720 --> 0:14:14.319 technology and also much more cleaner compared with the traditional 0:14:14.400 --> 0:14:18.920 lead as a leaching process. So that's why recycling technology 0:14:19.080 --> 0:14:22.840 we need in the US is cleaner and cheaper. So 0:14:23.000 --> 0:14:26.040 talk about the supply chain for the battery. The biggest 0:14:26.160 --> 0:14:28.720 problem for the US right now is that the EV 0:14:28.880 --> 0:14:32.080 is still too expensive, so how we can reduce the 0:14:32.280 --> 0:14:35.400 cost for the EV is important. So there is a 0:14:35.600 --> 0:14:37.920 more than half of the costs inside the battery, which 0:14:38.000 --> 0:14:41.440 is they call the cathode active materials. So the direct 0:14:41.480 --> 0:14:46.200 recycling our technology is to direct extract those cathode active 0:14:46.280 --> 0:14:49.880 materials outside from the old batteries that you can reuse. 0:14:50.480 --> 0:14:52.000 And at the same time, we do not want to 0:14:52.080 --> 0:14:55.320 produce a lot of waste. So in the traditional way, 0:14:55.480 --> 0:14:58.920 using the software acid you leaching all the metals and 0:14:59.080 --> 0:15:00.880 know as any you can do a lot of the 0:15:00.960 --> 0:15:04.040 sodium software and we don't have the place to dumb 0:15:04.120 --> 0:15:06.320 them right now, so that's why we need the great 0:15:06.400 --> 0:15:09.240 technology to do that and which is a much lower cost. 0:15:09.480 --> 0:15:10.400 So that's what we are doing. 0:15:10.680 --> 0:15:12.920 So let's go to the cathoin part first. So you're 0:15:12.960 --> 0:15:15.720 doing that for cheaper than competitors. 0:15:15.480 --> 0:15:19.560 How so Yeah, because of the traditional way, you need 0:15:19.680 --> 0:15:23.440 to break the old batteries to downb to the element. 0:15:23.960 --> 0:15:28.040 So using the acid, so we don't destroy the cathode materials, 0:15:28.120 --> 0:15:31.440 we just fix them reuse them. So that's how we 0:15:31.560 --> 0:15:34.479 reduce the cost and using our plasma technology. 0:15:35.440 --> 0:15:39.960 So where are we with just battery technology and recycling, 0:15:40.000 --> 0:15:42.800 I mean, are there more advances to go here? Because 0:15:42.800 --> 0:15:46.960 it feels like that's such a key part of electric vehicles, 0:15:47.080 --> 0:15:48.760 just electric power going forward. 0:15:49.360 --> 0:15:53.480 Yeah, so it's not only for the EVA, but also 0:15:53.600 --> 0:15:57.320 like the ANDRE storage batteries. Yes, as the big the 0:15:57.440 --> 0:16:01.480 storage system. So traditional tech tchnology we're trying to build 0:16:01.520 --> 0:16:04.880 in the US, but it's very expensive and the processing 0:16:04.960 --> 0:16:07.560 costs is also very expensive. So that's why in the 0:16:07.720 --> 0:16:10.440 US we're try to scaling up our technology. So the 0:16:10.520 --> 0:16:14.040 company was founded in twenty nineteen and we have technology 0:16:14.400 --> 0:16:17.000 and after that we have the large space lab in 0:16:17.080 --> 0:16:19.800 New Jersey which is a close to Princeton. And also 0:16:19.840 --> 0:16:22.640 we have a build up pilot production line which is 0:16:22.680 --> 0:16:25.280 about three four years ago right now is upruning about 0:16:25.320 --> 0:16:29.440 two years which is in Dallas, Texas and starting from 0:16:29.560 --> 0:16:32.280 last year we are building the first commercial scale the 0:16:32.320 --> 0:16:35.560 production line in South Karina and Chester County. So in 0:16:35.640 --> 0:16:38.280 this one we are able to recycle five thousand towns 0:16:38.320 --> 0:16:40.760 as a phase one and we target to expand to 0:16:40.880 --> 0:16:43.920 thirty thousand towns as end to recycle the batteries, do 0:16:43.920 --> 0:16:44.800 you have to have end. 0:16:44.760 --> 0:16:47.480 Buyers that will contract that material for you to feel 0:16:47.520 --> 0:16:49.760 confident putting in that kind of capex. 0:16:49.920 --> 0:16:52.360 Yes, we need that and do you have that? We 0:16:52.720 --> 0:16:55.400 do have the feed stock provider which give us the 0:16:55.520 --> 0:16:58.920 WETE batteries and it were comeing from like a sale 0:16:58.960 --> 0:17:02.800 manufacturers who make the batteries there are manufacturing scrap, so 0:17:02.920 --> 0:17:05.199 we do have a contract with them to recycle their 0:17:05.680 --> 0:17:09.200 manufacturing scrap. We do have a contract with auto Ems 0:17:09.359 --> 0:17:13.040 and also the Junkyard players who have a lot of 0:17:13.119 --> 0:17:15.439 waste batteries, so we also have a contract for. 0:17:15.520 --> 0:17:16.800 That one who's buying them now. 0:17:17.080 --> 0:17:20.719 So currently we are selling to the leaching companies who 0:17:20.880 --> 0:17:23.600 need those batteries to continue to get the medals for 0:17:23.720 --> 0:17:24.560 the later usage. 0:17:25.480 --> 0:17:27.560 How are you funding your company? I'm a former banker, 0:17:27.600 --> 0:17:29.600 so I always think about the money. How are you 0:17:29.640 --> 0:17:30.399 funding this company? 0:17:30.680 --> 0:17:33.840 That's a very important part. So we close the two 0:17:33.920 --> 0:17:36.760 rounds of the investment. We call a cias run and 0:17:36.840 --> 0:17:40.439 a RAND. So we have a private investors who interest 0:17:40.520 --> 0:17:43.800 with US investor US and supporting US, and those the 0:17:43.920 --> 0:17:47.800 investors some of the finishing investors AHOW Strategy investor so. 0:17:48.640 --> 0:17:50.800 And on top of this we get a big support 0:17:50.880 --> 0:17:54.119 from the Department Energy in the past six years, starting 0:17:54.200 --> 0:17:57.000 from like a smaller grand spr later on we have 0:17:57.080 --> 0:17:59.680 a larger grant, so we got a rough about twenty 0:17:59.720 --> 0:18:00.560 minute dollars. 0:18:00.400 --> 0:18:03.520 Pouring us will What is your level of confidence that 0:18:03.640 --> 0:18:04.280 that continues. 0:18:05.600 --> 0:18:09.280 I think for the United States critical minerals are very important, 0:18:09.880 --> 0:18:12.000 so we don't have so many minds in the US. 0:18:12.960 --> 0:18:16.719 What we need is how we can leverage those waste 0:18:16.840 --> 0:18:19.119 stuff and how to reuse them. So that's why I 0:18:19.200 --> 0:18:23.400 think recycling technology is a critical for US to secure 0:18:23.440 --> 0:18:27.040 the critical minerals and this will link to the US 0:18:27.280 --> 0:18:31.600 energy security. So I think for our technology is very 0:18:31.640 --> 0:18:35.000 critical for the United States for the materials what we 0:18:35.200 --> 0:18:37.960 need and also for the batteries what we're going to build. 0:18:38.480 --> 0:18:41.359 So that's what we need, and just give you a 0:18:41.400 --> 0:18:44.919 little bit numbers. So currently us don't produce any castle 0:18:44.960 --> 0:18:48.640 the materials, so all the materials we import from outside, 0:18:48.760 --> 0:18:53.080 so directly recycling, we use the waste batteries and produce 0:18:53.119 --> 0:18:56.280 the castle the materials to make new batteries and that's 0:18:56.359 --> 0:18:59.600 content more than half of the value inside the little 0:18:59.640 --> 0:19:03.600 I M. So how important is That's why we believe 0:19:03.720 --> 0:19:07.320 the grant will continue to support this critical minerals research 0:19:07.800 --> 0:19:10.159 and also the support our energy security. 0:19:10.560 --> 0:19:12.840 So you get your masters and your PhD here. 0:19:12.800 --> 0:19:15.800 Right, that's right in chemistry department. That sounds fun. 0:19:16.840 --> 0:19:18.240 How was your experience here? 0:19:18.920 --> 0:19:24.360 It's awesome. I really enjoyed the research here. So basically 0:19:24.840 --> 0:19:29.440 it's built up my very strong research and engineering foundation. 0:19:30.040 --> 0:19:32.680 So I think that's would be very critical because once 0:19:32.760 --> 0:19:36.960 you move into the next step, so doing research basically 0:19:37.119 --> 0:19:38.920 finished pH no one's going to teach you how to 0:19:39.040 --> 0:19:42.639 do it. You have very strong the experience how to 0:19:43.000 --> 0:19:47.240 design your research, how to set up everything, and then 0:19:47.920 --> 0:19:50.640 after research, how to write a paper and the publications, 0:19:51.040 --> 0:19:54.960 and more important, how to find the research topics, write 0:19:55.000 --> 0:19:57.640 the proposals to get a grant. So yeah, we got 0:19:57.720 --> 0:19:59.600 I get a pretty good foundation here. 0:20:00.200 --> 0:20:04.280 Thanks to cell John nj alumnus, co founder and CEO 0:20:04.480 --> 0:20:06.919 of Princeton New Energy. We continue with some of our 0:20:06.920 --> 0:20:10.560 best conversations from NJIT. Their co host Alex deel and 0:20:10.600 --> 0:20:14.400 I spoke with Alisa kelly Onemi, Assistant Professor of biomedical 0:20:14.520 --> 0:20:18.000 Engineering at NJIT. She discussed what it means to stimulate 0:20:18.080 --> 0:20:20.399 the brain and the benefits that come with it. I 0:20:20.440 --> 0:20:23.200 first asked Elisa what kind of research she's focusing on 0:20:23.359 --> 0:20:23.800 these days. 0:20:24.200 --> 0:20:28.440 The biggest question my research is trying to understand how 0:20:28.600 --> 0:20:33.280 to modulate the brain safely and precisely. So we already 0:20:33.400 --> 0:20:38.080 know that several brain disorders have like abnormal brain activities, 0:20:39.160 --> 0:20:39.879 but we don't know. 0:20:40.720 --> 0:20:41.680 What causes them. 0:20:42.359 --> 0:20:45.680 I'm kind of like, how can we normalize them? And 0:20:45.800 --> 0:20:48.760 that's where prain stimulation comes from. So prain stimulation is 0:20:48.800 --> 0:20:51.240 a method where we can actually modulate the brain safely. 0:20:51.480 --> 0:20:54.080 Modulate the brain does I mean like fix it or 0:20:54.400 --> 0:20:56.240 change the brain waves or what does that mean? 0:20:56.640 --> 0:20:58.240 So basically it's kind. 0:20:58.080 --> 0:20:59.920 Of like the radio, So like it with the radio, 0:21:00.040 --> 0:21:02.760 you can find two things. So with this one, we 0:21:02.840 --> 0:21:07.480 are applying these like small energy pulses to the brain 0:21:07.600 --> 0:21:11.919 that are totally safe, and these energy pulses are able 0:21:12.080 --> 0:21:13.800 to change your brain activity. 0:21:15.320 --> 0:21:15.600 Wow. 0:21:15.840 --> 0:21:18.879 So give us like a typical example of kind of 0:21:19.000 --> 0:21:21.399 what you're trying to do with a patient who may 0:21:21.440 --> 0:21:23.080 have some brain issues. What's an example? 0:21:23.800 --> 0:21:29.280 Yeah, So, well, for example, considering medications. So medications are 0:21:29.359 --> 0:21:33.480 life saving for many individuals, but the challenge is that, 0:21:33.680 --> 0:21:37.800 like some people get side effects, some people don't just 0:21:38.320 --> 0:21:43.080 like tolerate them, some people just don't get like any response, 0:21:43.359 --> 0:21:45.240 and obviously that's a problem because then we don't have 0:21:45.320 --> 0:21:47.800 any treatments for those. So what I'm trying to do 0:21:47.960 --> 0:21:50.760 with my research is kind of like help those individuals 0:21:50.760 --> 0:21:54.159 who don't get help from the pharmaceuticals. So with these 0:21:54.240 --> 0:21:58.080 brain simulation methods, we kind of like fill that gap 0:21:58.280 --> 0:22:01.439 and try to help them. So we try to develop 0:22:01.600 --> 0:22:04.879 methods that we could kind of like a whatever problem 0:22:04.960 --> 0:22:09.200 they have in their brain, we could elevate their symptoms. 0:22:09.400 --> 0:22:11.679 And then in that case it's sort of customized per 0:22:11.760 --> 0:22:15.160 person to do that. So I mean that's amazing, that's 0:22:15.240 --> 0:22:16.280 like a life saving thing. 0:22:16.280 --> 0:22:18.320 You say it's totally safe, but you say electric magnetic 0:22:18.400 --> 0:22:19.400 pulses in your brain. 0:22:19.240 --> 0:22:21.040 And you're like, WHOA, I don't know. That sounds scary. 0:22:22.359 --> 0:22:23.720 Give me the pitch for why it's safe. 0:22:24.680 --> 0:22:28.159