Redwood Materials, the brainchild of former Tesla co-founder and CTO JB Straubel, is making waves in the sustainable energy sector with its strategic approach to battery recycling and domestic supply chains for lithium-ion batteries.
The company is dedicated to creating a fully closed-loop supply chain by manufacturing critical battery components using as many recycled batteries as possible, effectively localizing a 50,000-mile global battery supply chain on a single site. This strategy aims to address the critical issue of material sourcing, particularly the reliance on China for battery materials.
Redwood Materials has recently closed a Series D funding round at a post-money valuation exceeding $5B. This financial backing positions the company to continue expanding its capacity, further strengthening the US's domestic battery supply chain. With an ambitious goal to enable customers to purchase battery materials made in the US, Redwood Materials is aligned with the broader political goal of onshoring critical industries as emphasized in the USA's 2022 Inflation Reduction Act.
Freddie
Company Specialist at Welcome to the Jungle
