Forbes‘ Alan Ohnsman reports that Redwood Materials has raised $700 million for its battery recycling operations.
- In its first year of operations, Redwood Materials processed over 10,000 tons of materials from old electronic equipment and batteries.
- Recycling the metals that are needed to make lithium-ion batteries will be crucial to match the growing demand for electric vehicles.
- The private sector’s innovation is creating a cleaner environment and more robust economy.
“Redwood Materials, a battery recycler created by Tesla cofounder and former tech chief JB Straubel, just raised more than $700 million from investors that will help it scale up recovery of lithium, cobalt, nickel and other metals needed by makers of lithium-ion cells for electric vehicles.”
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