Redwood Materials
Environmental Impact
Power a sustainable world and accelerate the reduction of fossil fuels.
Impact Rating
Power a sustainable world and accelerate the reduction of fossil fuels.
Company Overview
Redwood Materials provides advanced technology and process development solutions for materials recycling, re-manufacturing, and reuse. It develops a closed-loop, and domestic supply chain for lithium-ion batteries and manufactures battery components used as recycled batteries.
Redwood Material's Impact
They’re increasing the supply of battery materials while reducing environmental impact, cost, and supply chain risks.
Redwood Material's Core Mission and Values
Redwood's mission is to create a circular battery supply chain, localising the current fragmented system by creating critical battery components at scale in the US for the first time – and from an ever-increasing amount of recycled content.
“We focus our time, energy, and problem-solving abilities on building a circular supply chain. Our culture supports making difficult decisions and implementing design constraints to keep us pushing forward.”
Current Investors
Goldman Sachs Asset Management, Capricorn Investment group, Deepwater asset management, Baillie Gifford, Fidelity Investments, Microsoft’s Climate Innovation Fund, OMERS.
Leadership & Team
JB Straubel
CEO
Prior to founding Redwood, JB co-founded Tesla, spent fifteen years as CTO, and currently serves on Tesla's Board of Directors. JB had a direct role in both R&D, team building and operational expansion at Tesla, from prototype cars through to mass production and GWh-scale.
Colin Campbell
CTO
Colin joined after 17 years at Tesla as VP of Powertrain Engineering where he was responsible for the electrical, mechanical, and manufacturing engineering of high power electronics, as well as motors, gearboxes, battery packs, and charging systems across both the vehicle and energy businesses.
Kevin Kassekert
COO
Kevin spent 7 years at Tesla as VP People & Places and VP Infrastructure Operations; 5 years at SVTC as VP Operations & Engineering; 8 years at Cypress Semiconductor in Operations, Engineering and Infrastructure expansion roles. At Tesla, Kevin led the Gigafactory 1 construction and operational ramp and built the first US Supercharger Network.
Use of Funds Raised
The company says it will use the funds to continue building capacity, expanding the domestic battery supply chain, and allowing customers to buy battery materials — like lithium, nickel and cobalt — made in the U.S. for the first time.
Risks associated with Redwood Materials
Development of alternative fuels and batteries. While EV’s are the most common way to reduce emissions created by vehicles, they are not the only option. Hydrogen fuel cells, for example, show great promise. Just like lithium-ion batteries, there are many considerations with fuel cell EVs (FCEVs), but many customers appreciate that their only emissions are water vapour and warm air. Companies like Toyota, BMW, Hyundai and Honda have all released an FCEV, and startups like Nikola Motors are trying to do the same. If a hydrogen fuel turns out to be technologically superior or gains market share dues, it would affect Redwood Materials.
How are Redwood Materials using technology?
As technology improves and the company can recycle batteries at a lower cost while capturing more value, profit margins will naturally improve as the final price will still be determined by the cost to mine the initial lithium.
Research by: Luqman Makeem
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