Alan Ohnsman of Forbes writes on Redwood Materials’ latest partnerships.
- Redwood Materials is a lithium-ion recycling company started by Tesla’s former technology chief, JB Straubel.
- Redwood has launched a software portal in California that can identify when battery packs are reaching the end of their life so that they can be shipped to Redwood’s headquarters where valuable metals will be recycled and extracted.
- The company has also partnered with Ford (who invested $50 million into Redwood) and Volvo to help supply the manufacturers with batteries for their EVs.
“Redwood aims to become a leading supplier of recycled metals and materials and estimates it can already recover about 6-gigawatt-hours of used batteries, battery scrap and electronics annually, enough to supply battery packs for 60,000 EVs. Located near Tesla’s massive Gigafactory, where it collects scrap from Panasonic, Redwood has raised about $800 million to expand its operations as demand for EV batteries–and the costly commodities needed to make them–grows.”
Read the full article here.