Redwood Materials uses hydrometallurgical processes to extract and refine nickel, cobalt, lithium, and copper from used batteries, consuming 80% less energy and generating 70% less CO2 than traditional methods. It produces anode copper foil and cathode active materials and employs reductive calcination powered by residual battery energy, creating an integrated circular ecosystem. The company aims to reach 500 GWh production capacity by 2030, with a current collection capacity exceeding 20 GWh annually.
Recovered critical battery materials including nickel, cobalt, lithium, and copper; anode copper foil; cathode active materials for new battery production.
In 2024, began construction on a $3.5 billion all-electric battery factory in South Carolina and secured a $2 billion conditional loan from the U.S. Department of Energy to support the Charleston, South Carolina facility.
Redwood Materials’ Series D round was co-led by Goldman Sachs Asset Management, Capricorn Investment Group, and T. Rowe Price Associates, with additional participation from Microsoft Climate Innovation Fund, OMERS Ventures, Deepwater Asset Management, and Caterpillar.
