Tesla co-founder J.B. Straubel’s battery recycling company Redwood Materials was included in Time’s 100 Most Influential Companies 2024 list.
Time listed some of Redwood Materials’ latest accomplishments.
“In January, Redwood broke ground on its second facility, a $3.5 billion plant in South Carolina. The company received a $2 billion Department of Energy loan, and the substance of Straubel’s vision has attracted many big-name customers, including Ford, Toyota, Volkswagen, Audi, Panasonic, and Lyft. Last year, Redwood signed a long-term agreement to recycle Toyota’s spent EV batteries and make them into new components.”
In January 2024, Redwood Materials announced its intention to localize battery production in North America. On its Nevada campus, the company planned to build a cathode material plant with a capacity of 1 million electric vehicles per year.
In April of this year, Straubel’s battery recycling company made notable progress in its Nevada campus. Redwood Materials ramped up its hydrometallurgical operations, commissioned large-scale recycling rotary calcines, and started producing battery anode copper foil.
Over the years, Redwood Materials has gained support and formed partnerships with many automakers. In May, the company announced a partnership with General Motors. It also has partnerships with Toyota, Ford, and Volvo.
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