Redwood Materials, run by ex-Tesla CTO, raises $1 billion to expand recycling operations in U.S.

Battery and e-waste recycling startup Redwood Materials, founded by former Tesla CTO JB Straubel, has secured $1 billion in funding to expand its operations in the US, aiming to produce new components for electric vehicle batteries domestically and reduce the industry's global trade and environmental impact.

cnbc.com

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8/29/2023

Tesla Cofounder’s Redwood Raises Over $1 Billion To Boost EV Battery Materials Business

Redwood Materials has raised over $1 billion in funding to establish production facilities in the U.S. for anodes and cathodes used in electric vehicle batteries, aiming to address the supply chain gap in domestic battery component manufacturing.