Redwood Materials Secures $1 Billion to Expand U.S. Recycling Operations

Redwood Materials, a battery and e-waste recycling startup founded by former Tesla CTO JB Straubel, has raised $1 billion in a funding round led by Goldman Sachs Asset Management and other investors to expand its operations in the U.S. The company aims to domestically produce battery components using recycled materials, reducing global trade risks and environmental impact. Redwood plans to build a Battery Materials Campus in South Carolina and has secured a $2 billion loan commitment from the Department of Energy. The investment aligns with the growing demand for electric vehicles, job creation, and the transition to renewable and clean energy.