Redwood Materials

Redwood Materials is an advanced technology and process development company for materials recycling, re-manufacturing, and reuse.

Redwood Materials imagines a world with renewable energy, electric vehicles and sustainable materials that power the future.

Redwood Materials was founded in 2017 by JB Straubel. The company is headquartered in Carson City, Nevada.

 

Redwood recycles scrap from battery cell production and consumer electronics like cell phone batteries, laptop computers, power tools, power banks, scooters and electric bicycles.

 

Redwood processes discarded goods, extracting materials like cobalt, nickel and lithium that are typically mined, and supplies those back to its customers, which includes Panasonic at the Gigafactory in Nevada that it operates with Tesla and Envision AESC’s battery plant in Tennessee.

 

Redwood has also partnered with Amazon to recycle EV and other lithium-ion batteries and e-waste from parts of their businesses.

 

Redwood is backed by T. Rowe Price Associates, Goldman Sachs Asset Management, Baillie Gifford, Canada Pension Plan Investment Board, Fidelity, Capricorn’s Technology Impact Fund, Breakthrough Energy Ventures, and others. The company raised $700M in Series C round on Jul 28, 2021. This brings Redwood's total funding to $742M to date. The new round valued the company at $3.7B post-money. 

 

 

  • Year founded: 2017
  • Funding Info: $742M over 3 Rounds (Latest Funding Type: Series C)
  • Yearly Revenue: NA
  • Employee Size: 51-200
  • Business Valuation: Valued at $3.7B as of July 28, 2021
  • City/Town: Carson City
  • State: Nevada
  • Country: United States
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