Redwood Materials
OEM : Electrical Equipment
Redwood’s mission is to build a circular supply chain to power a sustainable world and accelerate the reduction of fossil fuels. This focus is critical to the future of transportation and the electric grid.
Recent Posts
Breaking Down CB Insights’ Advanced Manufacturing 50 for 2022
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Exponential Industry’s thoughts on CB Insights’ Advanced Manufacturing 50. Data lakes drive MLOps into manufacturing processes. 3D printing companies continue to merge.
Assembly Line
🔋♻️🚙 Redwood Materials lands $2B conditional loan from DOE
Battery materials and recycling startup Redwood Materials has secured a conditional commitment for a $2 billion loan from the Department of Energy as part of the Biden administration’s bid to build up a supply chain for EVs in the United States. This latest financial boost will help Redwood reach its goal to produce 100 GWh annually of ultra-thin battery-grade copper foil and cathode active materials from both new and recycled feedstocks — enough battery materials to domestically produce more than a million electric vehicles a year.
Redwood Materials announces $700M external investment round
Today, Redwood is announcing a more than $700M external investment from a carefully selected group of strategic investors who understand the mission and value of what Redwood is working to achieve. The round was led by funds and accounts advised by T. Rowe Price Associates, Inc. and includes Goldman Sachs Asset Management, Baillie Gifford, Canada Pension Plan Investment Board, and Fidelity. In addition, all Series B investors, Capricorn’s Technology Impact Fund, Breakthrough Energy Ventures and Amazon’s Climate Pledge Fund, returned for this round and Valor Equity Partners, Emerson Collective, and Franklin Templeton also participated.
“With this capital, Redwood will be able to accelerate our mission to make battery materials sustainable and affordable, accomplishing the change we need in the world with a circular economy,” said JB Straubel, CEO, Redwood Materials.