All articles tagged with #battery recycling
Researchers in Vienna have developed a groundbreaking method to convert used batteries and CO₂ into renewable methane, transforming toxic waste into a sustainable energy source and offering a new approach to green energy innovation that contrasts with the dominance of Silicon Valley and China.
JB Straubel, a Tesla cofounder, has led his battery recycling company, Redwood Materials, to an estimated $200 million in revenue this year. The company, founded in 2017, focuses on extracting raw materials from used batteries to support a sustainable and localized battery supply chain in the U.S. Redwood Materials aims to produce enough battery materials for 1 million electric vehicles annually, addressing the need for sustainable and affordable battery solutions. Despite Tesla's success, EV adoption in the U.S. remains slow compared to other markets like China.
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.
Tesla has announced that its 2023 Annual Shareholder Meeting, also known as the 2023 Cyber Roundup, will take place on May 16, 2023, at Gigafactory Texas. Shareholders interested in attending the event in person are encouraged to sign up online. The meeting is expected to discuss ongoing and future projects, including the potential election of JB Straubel as a Tesla board member and the company's battery recycling efforts. A random drawing will be held to determine who could attend the event in person, and the deadline for entry is April 14, 2023.