Redwood Materials is starting to produce anode material for lithium-ion batteries in Carson City, Nevada.Redwood Materials, the battery recycling and components maker created by Tesla cofounder JB Straubel, has been awarded a $2 billion federal loan to help build up a U.S. supply base for essential components needed to make batteries for electric vehicles that are currently imported almost entirely from Asia.
The Carson City, Nevada-based company got a “conditional” commitment for the low-interest funds from the Energy Department’s Advanced Technology Vehicles Manufacturing program as it expands operations in its home state and prepares to build a second campus near. Redwood started processing recovered battery materials a few years ago in Nevada, has begun making copper foil for battery anodes and plans to make battery cathodes, using recycled minerals in both.
Straubel has been a key player in the push to electrify transportation since Tesla unveiled its initial battery-powered vehicle, the Roadster, in 2006. Working with CEO Elon Musk, he oversaw the EV company’s motor and battery development programs as Tesla’s CTO until 2019, when his focus shifted to battery recycling.