Alan Ohnsman of Forbes writes about Redwood Materials, a startup that profitably recycles lithium-ion batteries.
- Redwood Materials, which was created by Tesla co-founder J.B. Straubel, is partnering with ERI to convert electronic waste into valuable raw materials.
- Redwood operates a closed-loop system that takes the metals from recycled EV batteries and sells them back to car manufacturers.
- The innovation and leadership of Redwood Materials show that the private sector is ready to lead in the space of clean energy.
“Closely held Redwood currently operates two processing facilities in Nevada, and is scaled to process about 20,000 tons of batteries annually. Straubel won’t share technical details of proprietary technology and processes the company has developed, but says he’s in talks with other potential partners and will be expanding operations. Redwood is also tightlipped about funding, disclosing only a $40 million investment round in September 2020 that included Amazon’s Climate Fund.”
Read the full article here.