About Redwood Materials
Redwood Materials was founded in 2017 by JB Straubel, a co-founder and former longtime chief technology officer of Tesla, based on the recognition that the rapidly growing electric vehicle and broader battery-powered device industry was creating both a looming end-of-life battery waste problem and a significant supply chain vulnerability, since the critical metals used in lithium-ion batteries, including lithium, cobalt, nickel, and copper, are geographically concentrated in a relatively small number of mining regions globally, creating both environmental and geopolitical supply chain risk as demand for these materials grows dramatically alongside the broader shift toward electric vehicles and grid-scale battery storage.
Redwood Materials's core business recovers these critical battery metals from end-of-life lithium-ion batteries, including batteries from electric vehicles, consumer electronics, and other battery-powered devices, using proprietary recycling processes to extract and purify these metals to a quality suitable for reuse in manufacturing new batteries, creating what the company describes as a "closed loop" supply chain that reduces dependence on newly mined raw materials while also addressing the environmental and safety concerns associated with disposing of large volumes of used lithium-ion batteries, which can pose fire risks and environmental contamination concerns if not properly processed and recycled. The company has expanded beyond battery recycling into actually manufacturing battery components, including cathode and anode materials that serve as key inputs into new battery cells, positioning Redwood as not only a recycler but as a domestic, vertically integrated battery materials supplier for U.S. electric vehicle and battery manufacturing, an important strategic consideration given significant U.S. policy interest in reducing dependence on foreign, particularly Chinese, battery supply chains. Redwood has built partnerships with major automakers and battery manufacturers, including a significant supply relationship with Panasonic, a key battery cell supplier to Tesla, and other automotive industry partners. The company has raised very substantial venture funding from investors including T. Rowe Price, Goldman Sachs, and Capricorn Investment Group, reaching a valuation exceeding $5 billion, positioning itself as critical infrastructure for a more domestically sourced and sustainable battery supply chain.
