Redwood Materials plans to open a $1 billion U.S. plant to make cathode and anode materials that will be needed for electric vehicle batteries by 2025.
that it plans to use recycled products to manufacture “precision battery materials” it will sell to makers of lithium-ion cells. Redwood will select a site for the battery materials plant in 2022 and have capacity to produce 100 gigawatt-hours of cathode material and enough anode foil for a million electric vehicles annually by 2025. The plant will employ up to 1,000 workers, with a goal of a fivefold increase in annual output by 2030, the company said.
Redwood has raised at least $740 million since its founding in 2017 and is valued at $3.7 billion, according to. It uses proprietary processes to separate commodity materials out of old batteries and electronics scrap received from partners including battery makers Panasonic and Envision AESC, electric bus builder Proterra and ERI, North America’s biggest e-waste recycler.
During his time at Tesla, Straubel was instrumental in overseeing the design of the carmaker’s battery pack and motors, beginning with the 2008 Roadster. He also helped set up and run the massive Gigafactory in Sparks, Nevada, the biggest U.S. battery plant. He left Tesla in late 2019.
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