Redwood Materials, the battery recycling startup founded by former Tesla CTO JB Straubel, has purchased 100 acres of land near the Gigafactory that Panasonic operates with Tesla in Sparks, Nevada as part of an expansion plan that Aligns with the Biden administration’s desire to increase adoption of electric vehicles and boost household battery recycling and supply chain efforts.
The company said Monday that its existing 150,000 square foot facility in Carson City, Nevada would also triple in size. Redwood is adding an additional 400,000 square feet to the Carson City recycling facility, which is expected to be operational by the end of the year.
As part of its growth plans, Redwood is also hiring hundreds of workers. The company, which is backed by Amazon, now employs 130 people and plans to add more than 500 jobs over the next two years.
Redwood’s expansion announcement follows the Biden administration’s 100-day review of the U.S. supply chain and the release of a Department of Energy document that outlines a plan to improve the national supply chain for lithium batteries.
“America has a clear opportunity to rebuild its national supply chain and manufacturing sectors, so that we can take full advantage of an emerging global $ 23 trillion clean energy economy,” the US said on Monday. Energy Secretary Jennifer M. Granholm in a statement. “Private sector investments like this are a sign that we cannot slow down. The U.S. Jobs Plan will open huge opportunities for U.S. businesses as it spurs innovation and demand for technologies, such as vehicle batteries and battery storage, creating clean energy jobs for all.
Redwood Materials, which was founded in 2017, tries to create a circular supply chain. The company has a business-to-business strategy, recycling waste from the production of battery cells as well as consumer electronics such as cell phone batteries, laptops, power tools, power banks, scooters and bicycles. electric. Redwood collects waste from consumer electronics companies and battery cell manufacturers like Panasonic. It then processes these discarded products, mining materials like cobalt, nickel, and lithium that are typically mined, and then sends them back to Panasonic and other customers. The goal is to create a closed loop system that will ultimately reduce the cost of batteries and offset the need for mining.
Redwood Materials has a number of clients and has only publicly revealed that it works with Panasonic, Amazon, and AESC Envision in Tennessee.
Redwood Materials claims to recover around 95% to 98% of battery elements such as nickel, cobalt, lithium and copper. Today, it receives 3 gigawatt hours a year, a figure the company says equates to about 45,000 cars.