Kirsten Korosec of TechCrunch reports that Redwood Materials has bought a European battery recycler.
- The purchase of Redux Recycling marks the second time that Redwood Materials has purchased a European company, signaling expansion in the area.
- The company is also building a facility in Charleston, South Carolina that will eventually employ 1,500 people and make enough cathode and anode components to supply 1 million EVs annually.
- With a recent $1 billion funding round in August, Redwood now has $2 billion in equity capital.
“Redwood made its first move into Europe last year as part of Straubel’s global ambitions to be one of the largest battery materials and recycling companies. It sees Redux as a pathway towards that expansion.”
Read the full article here.
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