Redwood Materials
Industrial
Founded: 2017
Last Round Valuation: $5.35B
Redwood Materials, founded in 2017 by JB Straubel, formerly the Chief Technology Officer and co-founder of Tesla, is a Northern Nevada-based company specializing in sustainable battery recycling technology. Their innovative approach focuses on optimizing circular supply chains, converting scrap from battery cell production and consumer electronics into reusable materials for electric vehicles and energy products. By efficiently reusing and processing these raw materials, Redwood Materials contributes to the circularity of the battery supply chain.
Redwood Materials Overview:
Redwood Materials, founded by JB Straubel in 2017, is a pioneering company based in Northern Nevada that specializes in sustainable battery recycling technology. With a strong focus on optimizing circular supply chains, Redwood Materials aims to transform waste materials into valuable resources, thereby contributing to the advancement of a circular economy.
One of the core objectives of Redwood Materials is to address the growing challenge of battery waste generated by battery cell production and consumer electronics. Traditional disposal methods often result in environmental harm and resource depletion. Redwood Materials seeks to disrupt this linear model by providing innovative recycling solutions that extract maximum value from discarded materials.
At the heart of Redwood Materials' operations is their state-of-the-art recycling technology. The company has developed advanced processes to efficiently and effectively recover materials from end-of-life batteries and electronic devices. By leveraging their expertise, Redwood Materials helps clients turn this waste into a valuable resource stream that can be reintegrated into the battery supply chain.
The recycled materials processed by Redwood Materials play a vital role in supporting the production of electric vehicles (EVs) and energy products. By reclaiming valuable elements, such as lithium, cobalt, nickel, and other critical metals, Redwood Materials helps reduce the reliance on virgin resources for battery manufacturing. This closed-loop approach not only mitigates the environmental impact of resource extraction but also enhances the sustainability and availability of key materials for the rapidly growing EV industry.
In addition to optimizing the circularity of the battery supply chain, Redwood Materials emphasizes the economic benefits of their recycling technology. By recovering valuable materials, the company enables its clients to reduce production costs and enhance their profitability. This profitable integration of recycling further incentivizes the adoption of sustainable practices within the battery industry.
Redwood Materials' founder, JB Straubel, brings significant expertise and experience to the company. As the former Chief Technology Officer and co-founder of Tesla, he played a pivotal role in shaping Tesla's innovative approach to battery technology. With Redwood Materials, Straubel continues to drive technological advancements and sustainability initiatives in the battery recycling sector.
Through its commitment to sustainability and circularity, Redwood Materials has gained recognition as a key player in the clean energy and recycling space. The company's innovative recycling technology not only reduces waste and resource depletion but also supports the transition to a low-carbon future by enabling the widespread adoption of electric vehicles and clean energy solutions.
By converting waste into valuable resources and fostering the circular economy, Redwood Materials demonstrates the potential for profitable and sustainable solutions in the battery recycling industry. Through their technological advancements and strategic partnerships, Redwood Materials is poised to make a significant impact on the sustainable development of the battery supply chain, driving positive change in the way batteries are manufactured, used, and recycled.
Founders:
JB Straubel (Former Chief Technology Officer and Co-Founder of Tesla)
Top Investors:
T. Rowe Price
Goldman Sachs
Baillie Gifford
Capricorn's Technology Impact Fund
Breakthrough Energy Ventures
Amazon
Funding History:
Date | Share Type | Amount Raised | Raised to Date | Issue Price | Post Money Valuation | Key Investors |
---|---|---|---|---|---|---|
Jun 2023 | Series D | $997.18MM | $1.82B | $47.74 | $5.35B | Undisclosed Investors |
Jul 2021 | Series C | $779.42MM | $824.66MM | $47.40 | $4.06B | T. Rowe Price, Goldman Sachs, Baillie Gifford |
Sep 2020 | Series B | $37.24MM | $45.24MM | $3.26 | $217.84MM | Capricorn's Technology Impact Fund, Breakthrough Energy Ventures, Amazon |
Jun 2018 | Series A-2 | $4MM | $6MM | $0.36 | $18.26MM | Undisclosed Investors |
Jun 2018 | Series A | $2MM | $4MM | $0.17 | $18.26MM | Undisclosed Investors |
Apr 2017 | Series Seed | $2MM | $2MM | $0.14 | $4.78MM | Undisclosed Investors |