COMPANY PROFILE / NEXT-GEN ENERGY STORAGE
Redwood Materials
A privately held U.S. company built on collecting and recycling spent batteries, now extending into storage systems made from repurposed packs (Redwood Energy)
Redwood Materials comes up in discussions of next-generation storage because it is one company that does both recycling, extracting metals from spent batteries, and Redwood Energy, which repurposes EV batteries into storage systems. It says it receives more than 20 GWh of batteries a year and produced more than 60,000 tonnes of minerals in Nevada in 2025. In June 2025 it built a 12 MW / 63 MWh microgrid for Crusoe, and in 2026 it announced installation plans with GM and Rivian. But most of the figures are the company's own, with no financial statements because the company is private, and the US$2 billion DOE loan is a conditional commitment of 2023 whose drawdown we could not confirm. Drawing on posts on the company's official website, a peer-reviewed paper and a Tesla SEC filing, this profile sets out what can and cannot be confirmed.
- Redwood Materials in 30 seconds, and where it stands in next-generation storage
- The logo and how the name is written
- Where the company sits in next-generation storage
- Scale
- Resources committed to next-generation storage
- What it has done so far
- What comes next
- What the company is aiming for
- Partnership map
- Technologies, products and services
- The risks this company carries
- Glossary, references and claim-to-source audit
1. Redwood Materials in 30 seconds, and where it stands in next-generation storage
Nevada, U.S.The Tahoe Campus in Nevada and the Carolina Campus in South Carolina
Storage systems (secondary)Recovers minerals from spent batteries and also supplies storage from repurposed packs
Redwood Materials is a privately held company that built its business on collecting and recycling spent batteries, and from 2025 added Redwood Energy, which repurposes used EV battery packs into storage systems Sourced. In storage, it built a 12 MW / 63 MWh microgrid for Crusoe in about four months from June 2025, and the company says it has run at 99.2% availability. In April 2026 it announced a plan with Rivian, and in June with GM, to install repurposed packs. Most of the figures, however, are the company's own. Apart from a peer-reviewed paper on environmental impact (using 2021 operating data), we could not find a public document in which a third party has checked its intake, output or availability. The US$2 billion DOE loan is a conditional commitment (2023), and whether it was drawn could not be confirmed Not yet confirmed.
2. The logo and how the name is written
A note on naming: the company name is Redwood Materials (legal name Redwood Materials Inc.). Its storage business is Redwood Energy, and the power-conversion and control technology it uses to link repurposed packs is Pack Manager. The logo is the one used in the header of the company's official website (SVG). It was drawn in a light color for a dark background, so we changed only its color to dark brown so that it shows on a white page (the shape is unchanged).
Official website: https://www.redwoodmaterials.com/3. Where the company sits in next-generation storage
As Fig. 1 shows, Redwood's main position is on the recycling side, "from spent batteries to materials", and it has extended into storage systems built from repurposed packs. The company says many of the batteries it receives retain more than 50% of their usable capacity, so before recycling it puts them to work as stationary storage (company statement) Sourced. Redwood is therefore both a supplier of materials to cell makers and a receiver of the spent packs of cell makers and automakers. See also our explainers on battery recycling and second-life use, battery materials resources and sourcing, grid-scale storage systems, and data centers and storage.
4. Scale
The company is privately held, so revenue, profit and headcount are not published. What follows are official materials and figures the company itself has released. Most of the figures are the company's own statements Sourced.
| Item | What we could confirm | Source |
|---|---|---|
| Founded and founder | Founded in 2017. JB Straubel left Tesla in 2019 to devote himself to Redwood (company history). Tesla's 10-K lists Redwood as an entity affiliated with its CEO and directors and says transactions were immaterial | References 2, 18 |
| Sites | The Tahoe Campus in Sparks, Nevada (more than 2 million square feet under roof, nearly 900 acres) and the Carolina Campus in Berkeley County, South Carolina (more than 600 acres). An R&D site in San Francisco | References 2, 9, 10 |
| Capital raised | More than US$700 million in July 2021 (Series C); more than US$1 billion in August 2023 (Series D; the company says about US$2 billion of equity in total); US$350 million in October 2025 and a final close of US$425 million in January 2026 (Series E; led by Eclipse, with NVentures, Google, Capricorn, Goldman Sachs Alternatives and others) | References 5, 6, 16, 19 |
| Batteries received | More than 20 GWh a year (about 250,000 EVs' worth). About 90% of the lithium-ion batteries and materials recycled in North America (company statement) | References 3, 7 |
| Minerals produced | More than 60,000 tonnes in Nevada in 2025 (company statement). An initial additional 20,000 tonnes a year from operations in South Carolina | References 9, 10 |
| Management | Deepak Ahuja became CFO in May 2026 and Cal Lankton became COO in September 2026 (company posts). Revenue and headcount are not disclosed | Reference 20 |
"Batteries received", "output" and "availability" are figures from the company's posts. The "about 90%", for example, is the company's comparison of what it receives with all of North America, and we could not find the data behind that comparison. The posts also do not say what is counted in "tonnes produced" (metals, salts, mixed products), or how much comes from recycled versus purchased feedstock Not yet confirmed.
5. Resources committed to next-generation storage
Because the company is private, most headcount, R&D and capital-spending figures are not disclosed. What official materials do show is organized below under four headings.
| Type of resource | What primary sources confirm | Status |
|---|---|---|
| People | Headcount is not disclosed. It opened an R&D site in San Francisco in 2025 and quadrupled its footprint in February 2026 (to speed storage development). A 2023 post expected about 1,600 full-time jobs and 3,400 construction jobs for the DOE-backed project in Nevada (a plan), and in South Carolina it expects more than 1,500 jobs over ten years (company plan) | Sourced / headcount not disclosed |
| Money | Raised so far: more than US$700 million (Series C), more than US$1 billion (Series D) and US$425 million (Series E). The South Carolina plan was US$3.5 billion of investment and 100 GWh of cathode and anode components (announced in 2022; we found no update). R&D spending is not disclosed | Sourced / partly not disclosed |
| Investments, acquisitions, joint ventures, divestments | No investment or acquisition by Redwood in another company appears in the official materials we checked. On the receiving side, Series D investors include Caterpillar Venture Capital and Microsoft's Climate Innovation Fund, and Series E investors include NVentures and Google | Could not confirm / receiving side sourced |
| Partnerships (sourcing, supply, deployment) | Collection and recycling: Toyota (2022), Volkswagen (2022), Ultium Cells (2024; the General Motors and LG Energy Solution joint venture), BMW, Isuzu and others. Supply: Panasonic to source high-nickel cathode for its new Kansas plant (announced 2022). Storage: Crusoe, GM, Rivian, Caterpillar and others | Sourced |
| Universities, research institutions, public funding | A conditional commitment of US$2 billion from the DOE Loan Programs Office (ATVM) (9 February 2023), which the company describes as milestone-based tranches. Whether the loan was drawn or withdrawn could not be confirmed (we could not read the table on DOE's projects page). The company says the DOE's Argonne National Laboratory verified the performance of a cathode made from recycled content (October 2022). The environmental evaluation is a peer-reviewed paper led by Stanford University (Nature Communications, 2025) | Sourced (company statement) / partly not confirmed |
Next, the main facilities and businesses. Stages are given in the company's own wording.
| Facility / business | Location | Scale | Stage | Date | Source |
|---|---|---|---|---|---|
| Tahoe Campus (recycling and refining) | Nevada, U.S. | More than 60,000 tonnes in 2025 | Operating (company statement) | 2025 | References 9, 10 |
| Carolina Campus (first recovery phase) | Berkeley County, South Carolina | 20,000 tonnes a year (initial) | Operations started (the first facility is recovering minerals). The full plan (US$3.5 billion, 100 GWh of components) dates from 2022; its current progress could not be confirmed | 6 Nov 2025 | Reference 9 |
| Microgrid for Crusoe | Sparks, Nevada | 12 MW / 63 MWh | Operating (built in about four months; the company says 99.2% availability). Planned expansion to 20 more data-center modules | Jun 2025 to Mar 2026 | Reference 8 |
| GM plant in Michigan | Michigan, U.S. | About 100 packs, 1.5 MW / 7.2 MWh | Planned (installation intended) | 9 Jun 2026 | Reference 11 |
| Rivian's Normal plant | Illinois, U.S. | More than 100 packs, initially 10 MWh | Partnership announced (a deployment plan) | 14 Apr 2026 | Reference 12 |
| Anode copper foil | Nevada, U.S. | Planned at 100 GWh-equivalent a year | The company said production began in January 2023. Current output could not be confirmed | 9 Feb 2023 | Reference 4 |
6. What it has done so far
| When | What happened | Why it matters |
|---|---|---|
| 2017 | Founded (company history) | — |
| 28 Jul 2021 | Series C of more than US$700 million (led by T. Rowe Price) | The first large outside funding |
| 2022 | Collaboration with Toyota (June) and partnership with Volkswagen (July). Panasonic announced it would source high-nickel cathode (15 November). A new campus in South Carolina was announced (14 December, US$3.5 billion) | The idea was to secure both the intake of spent batteries and the outlet for materials |
| 9 Feb 2023 | Conditional commitment of US$2 billion from the DOE (ATVM). Anode copper foil production began | The loan depends on conditions being met (status not confirmed) |
| 29 Aug 2023 | Series D of more than US$1 billion | The company says about US$2 billion of equity raised in total |
| May 2024 | Partnership with Ultium Cells on recycling production scrap | Takes in scrap from the General Motors and LG Energy Solution joint venture |
| Jun 2025 | Launched Redwood Energy (post of 27 June). Built a 12 MW / 63 MWh microgrid for Crusoe in about four months | Extended the business to "put packs to work before recycling" |
| 16 Jul 2025 | A non-binding memorandum of understanding (MOU) with GM on storage using new U.S.-made batteries and repurposed packs | An MOU is not necessarily a final contract |
| 23 Oct 2025 | Series E of US$350 million (led by Eclipse, with NVentures) | Storage expansion is the main use of funds |
| 6 Nov 2025 | Began recovering critical minerals in South Carolina (initial 20,000 tonnes a year) | The second campus comes online |
| 28 Jan 2026 | Final close of the Series E at US$425 million (Google joins) | — |
| 24 to 25 Mar 2026 | Expanded work with Crusoe (20 more modules). Said its storage systems met a test against the 6th edition of UL 9540A and other tests (testing at UL Solutions) | The company's own statement. Test reports not confirmed |
| 14 Apr 2026 | Storage partnership with Rivian | Reuse at an automaker's plant |
| 9 Jun 2026 | Partnership with GM across the full battery lifecycle (plan for the Michigan plant) | Scrap, spent packs and reuse, all with one company |
| 21 Sep 2026 | Cal Lankton named COO | — |
7. What comes next
data centers' worthAbout seven times the original compute (company statement). No completion date given
The figures above are the company's plans and expectations, not results Not yet confirmed. Other plans in official materials include:
- GM packs: about 10,000 spent EV packs are expected to come for repurposing through Redwood Energy (post of June 2026)
- South Carolina: an expected 1,500-plus jobs over ten years and, in the long run, a large recovery, refining and manufacturing campus
- Supply of batteries: by 2030, the company says, end-of-life batteries could supply more than 50% of the energy storage market (the company's view)
Revenue, profit, headcount and R&D spending / whether the DOE loan was drawn or withdrawn / current output and customers for cathode and anode copper foil / the latest progress of the large South Carolina plan / shipments and cumulative deployments of Redwood Energy storage systems / test reports such as UL 9540A / the basis for the 99.2% availability. None appears in the official materials we checked.
8. What the company is aiming for in next-generation storage
This section separates what the company says directly from what we infer. Inference marks our own reading of primary information.
| What can be read | Primary information behind it | Status |
|---|---|---|
| The aim is two pillars: a domestic source of critical minerals and domestic storage | The home page speaks of securing U.S. critical materials and powering the country's energy, and the Series E post describes two core businesses: critical materials and grid energy storage | Sourced (company statement) |
| It puts reuse (storage) before recycling to extend the value of batteries | It says many packs keep more than 50% of usable capacity and describes the order storage system, then recycling | Sourced (company statement) |
| Its differentiator is "tariff-free, U.S.-made batteries" and low cost | The Redwood Energy page claims 100% domestic batteries that avoid import duties it says can add more than 75% to new battery costs (company claim) | Sourced (company claim) |
| It sees AI data centers and automakers' plants as lead customers | Crusoe (modular data centers), and installations at GM and Rivian plants | Sourced (company statement) / Inference |
| Its strategy is to lock in the intake of spent batteries (partnerships with automakers) more than the outlet | Toyota, Volkswagen, Ultium Cells, BMW, GM and Rivian appear as partners for collection, recycling and reuse, while the only buyer of materials named, within what we checked, is Panasonic (2022) | Inference |
The last row rests on the pattern of its partnerships. The nine partners on the home page and the 2026 announcements (GM, Rivian) are mostly the parties that send batteries back (automakers, cell makers, power and compute operators), and the only party we found named as a buyer of recovered material is Panasonic's cathode sourcing announced in 2022 Sourced. Compared with the 2022 plan (to produce anode copper foil and cathode at 100 GWh-equivalent a year), the 2025 to 2026 announcements put their weight on storage and mineral recovery, which suggests the center of gravity may have moved from materials manufacturing to "recovery and storage". This is our inference, and the company has not said that its policy changed Not yet confirmed.
9. Partnership map for next-generation storage
The pattern in Redwood's partnerships is that automakers (GM, Toyota, Volkswagen, BMW, Rivian and others) are both the senders of spent batteries and the users of repurposed storage Sourced. The company says GM is the first automaker to work with it at all three stages: scrap (through Ultium Cells), spent EV packs, and storage from reuse. By contrast, the DOE loan is a conditional commitment, the GM memorandum is non-binding, and the Rivian project is at the stage of a deployment plan, so the strength of each differs.
10. Technologies, products and services
The figures for products and services are the company's own statements from its posts and official pages. Most come without test conditions or the premises of calculation. This article does not compare them with others or rank them.
| Item | What the official materials state (company statement) | What we could not confirm |
|---|---|---|
| Collection, recycling and refining | Takes in spent batteries and manufacturing scrap and recovers lithium, nickel, cobalt and copper. More than 20 GWh received a year. More than 60,000 tonnes in Nevada in 2025 (company statement) | Recovery rates, the breakdown and purity of products, process details |
| Environmental impact (third-party evaluation) | A peer-reviewed paper (Nature Communications, 2025) used Redwood's 2021 operating data and reported that making battery-grade materials from spent lithium-ion batteries cuts environmental impacts by at least 58% against conventional mining supply chains. Electricity use is the largest contributor, and the source of electricity can change greenhouse gas emissions by up to five times | Changes in process since 2021; current values |
| Redwood Energy | Design, integration and deployment of large storage systems using new and repurposed batteries. Pack Manager links different packs into one system. The company says the DC/DC converters last 15 years or more. Power and energy outputs are guaranteed | System ratings, efficiency, life; the cell chemistry and format used |
| Operating record (company claim) | 12 MW / 63 MWh for Crusoe. Availability of 99.2% (from commissioning to March 2026) | The premises of the calculation; measured degradation |
| Safety (company statement) | Passed the installation-level large-scale fire test and other tests in the 6th edition of UL 9540A (2026). The company says testing was done at UL Solutions. The design aims at not letting heat and gas build up | Test reports; the scope and detailed results of the tests |
| Materials (past plans) | Anode copper foil (production said to have begun in 2023) and high-nickel cathode (for Panasonic; announced 2022). The company says Argonne National Laboratory verified the performance of a cathode made from recycled content (2022) | Current output and customers |
From the materials side, Redwood's work has two outlets. One is recovery as materials (nickel, cobalt and lithium from cathodes, copper from anode current collectors). The other is reuse of the pack as it is Sourced. In reuse, spent packs differ in maker, chemistry and degree of ageing, so the company puts Pack Manager (a technology that uses DC/DC converters to connect different packs into one system) at the center Sourced. In general, the greater the spread in remaining capacity and internal resistance among packs, the more a simple series or parallel connection is held back by the weakest pack, so adjusting power pack by pack makes sense Not yet confirmed (a general statement, not a specification of Pack Manager). For recovery as materials, the recovery rate, the purity, and where the processing electricity comes from govern environmental impact. The paper above reports that the electricity source can change greenhouse gas emissions by up to five times Sourced. See our explainers on battery recycling and second-life use, battery evaluation and degradation, battery materials resources and sourcing, and thermal runaway and battery safety.
11. The risks this company carries
| Risk | Detail | Status |
|---|---|---|
| Many self-reported figures | Intake, output, availability and the "about 90%" come from company posts, and with no public financial statements there is no backing. Third-party checking is limited to a peer-reviewed environmental paper (2021 data) | Not yet confirmed |
| Status of the DOE loan unknown | A 2023 conditional commitment. It depends on conditions such as milestones, and whether it was drawn or withdrawn could not be confirmed | Sourced / Not yet confirmed |
| Changes of plan | The 2022 plans (copper foil and cathode at 100 GWh-equivalent a year, and US$3.5 billion in South Carolina) appear, in the 2025 to 2026 announcements, to have given way to a focus on storage and recovery. The current plan could not be confirmed | Inference |
| Dependence on raw-material prices and intake volume | The economics of recycling depend on metal prices and on the volume and quality of spent batteries that can be collected (a general statement). We found no company disclosure on this | Not yet confirmed |
| Variation in repurposed-pack quality | Makers, chemistries and degrees of ageing differ. Life and safety of a system depend on sorting and control. The company says it passed tests, but we have not seen the reports | Inference |
| Differences in contract strength | The GM memorandum is non-binding, and the GM and Rivian plants are deployment plans. Whether projects go ahead depends on customers' decisions | Sourced |
| Funding | It raised US$425 million in 2025 to 2026, but revenue, profit and cash are not disclosed, so the adequacy of its funding cannot be checked from outside | Not yet confirmed |
| Fire and safety | Collecting, storing and repurposing lithium-ion batteries carries fire risk (a general statement). This article does not discuss the cause of any individual incident (outside the scope of official investigation reports) | Not yet confirmed |
| Dependence on policy | "Domestic sourcing, tariffs and tax credits" are central to its pitch, so changes in policy affect its environment (we have not checked the text of the law) | Inference |
This article is an overview of a company. It is not advice on the safety, storage or disposal of batteries. Handling spent batteries follows the laws, standards and instructions of the relevant country or locality and of the operators concerned.
12. Glossary
- Recycling (recovery and refining)
- Taking metals such as lithium, nickel, cobalt and copper out of spent batteries and manufacturing scrap, and refining them to a purity that can be used in batteries.
- Repurposing (second life)
- Using a battery that no longer meets an EV's needs in a less demanding job such as stationary storage.
- Pack Manager
- The power-conversion and control technology Redwood uses to connect battery packs of different makers and chemistries into one storage system (company description).
- Critical minerals
- Minerals whose supply is concentrated in a few regions and which matter greatly to industry and security, such as lithium, nickel and cobalt.
- Anode copper foil / cathode active material
- The thin copper foil used as the anode current collector / the powder material that forms the cathode and contains metals.
- Conditional commitment
- A commitment that the DOE and similar bodies announce before a loan. Meeting technical, legal and financial conditions is a precondition for the loan to be made.
- MOU
- Memorandum of understanding: a document confirming future cooperation, which may be non-binding.
- UL 9540A
- A U.S. test method for evaluating how thermal runaway propagates in energy storage systems.
- Microgrid
- A small power supply system that can run independently of the main grid.
13. References
- Redwood Materials Company home page. Business description (energy storage and critical materials), partner list, address. https://www.redwoodmaterials.com/
- Redwood Materials Company page, "About". History (founded 2017 to March 2026), the two campuses (Nevada and South Carolina), the R&D site in San Francisco. https://www.redwoodmaterials.com/about/
- Redwood Materials "Redwood Energy" page. Description of the storage business, Pack Manager, annual intake of batteries, the Crusoe case study. https://www.redwoodmaterials.com/energy/
- Redwood Materials Post: conditional commitment for a US$2 billion loan from the U.S. Department of Energy (DOE) Loan Programs Office (9 February 2023). Milestone-based tranches; start of anode copper foil production. https://www.redwoodmaterials.com/news/redwood-department-of-energy-loan/
- Redwood Materials Post: US$350 million Series E (23 October 2025). Led by Eclipse, with new investors including NVIDIA's venture arm, NVentures. https://www.redwoodmaterials.com/news/redwood-announces-350-million-series-e-funding/
- Redwood Materials Post: final close of the Series E at US$425 million (28 January 2026). Google joins existing investors Capricorn and Goldman Sachs Alternatives. https://www.redwoodmaterials.com/news/redwood-materials-announces-final-close-of-425m-series-e/
- Redwood Materials Post: Redwood Energy (27 June 2025). More than 20 GWh of batteries received a year, and the idea of repurposing used packs into storage systems. https://www.redwoodmaterials.com/news/redwood-energy-fast-low-cost-storage-to-power-the-age-of-ai-and-a-changing-grid/
- Redwood Materials Post: expanded work with Crusoe (March 2026). A 12 MW / 63 MWh microgrid, 99.2% availability, and expansion to 20 more modular data centers. https://www.redwoodmaterials.com/news/redwood-and-crusoe-expand-compute-to-7x-scale/
- Redwood Materials Post: start of critical materials recovery in South Carolina (6 November 2025). More than 60,000 tonnes produced in Nevada, and an initial 20,000 tonnes a year in South Carolina. https://www.redwoodmaterials.com/news/redwood-begins-critical-materials-recovery-in-south-carolina/
- Redwood Materials Post: "2025: A defining year for Redwood" (29 December 2025). A review of 2025. https://www.redwoodmaterials.com/news/2025-a-defining-year-for-redwood/
- Redwood Materials Post: partnership with General Motors across the full battery lifecycle (9 June 2026). A plan to install about 100 repurposed packs (1.5 MW / 7.2 MWh) at a GM plant in Michigan. https://www.redwoodmaterials.com/news/general-motors-becomes-first-automaker-to-partner-with-redwood-across-the-full-battery-lifecycle/
- Redwood Materials Post: storage partnership with Rivian (14 April 2026). More than 100 repurposed packs at the Normal, Illinois plant, initially 10 MWh. https://www.redwoodmaterials.com/news/rivian-and-redwood-materials-announce-energy-storage-partnership-for-manufacturing/
- Redwood Materials Post: storage systems meet a new safety benchmark (25 March 2026). The company says testing against the 6th edition of UL 9540A and other tests was done at UL Solutions. https://www.redwoodmaterials.com/news/redwood-s-energy-storage-systems-meet-and-exceed-new-safety-benchmark/
- Redwood Materials Post: a non-binding memorandum of understanding (MOU) with General Motors (16 July 2025). Storage systems using new U.S.-made GM batteries and repurposed packs. https://www.redwoodmaterials.com/news/redwood-and-gm-to-pursue-use-of-u-s-built-batteries-for-energy-storage/
- Redwood Materials Post: Panasonic to source high-nickel cathode for its new Kansas plant (15 November 2022). https://www.redwoodmaterials.com/news/redwood-high-nickel-cathode-panasonic/
- Redwood Materials Post: Series D (29 August 2023). More than US$1 billion; the company says about US$2 billion of equity raised in total, plus a separate US$2 billion DOE loan commitment. https://www.redwoodmaterials.com/news/redwood-series-d/
- Machala, M. L. et al. (Nature Communications) Life cycle comparison of industrial-scale lithium-ion battery recycling and mining supply chains. Nature Communications, 24 January 2025, DOI 10.1038/s41467-025-56063-x (checked on Crossref). A comparison of environmental impacts using Redwood Materials' 2021 operating data. https://www.nature.com/articles/s41467-025-56063-x
- Tesla, Inc. Form 10-K for the fiscal year ended December 31, 2025 (filed 29 January 2026). Lists Redwood Materials as a related party and says transactions were immaterial. https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm
- Redwood Materials Post: US$700 million-plus Series C (28 July 2021), led by T. Rowe Price Associates. https://www.redwoodmaterials.com/news/series-c-funding-700-million/
- Redwood Materials News listing. Posts including the CFO (Deepak Ahuja, May 2026) and COO (Cal Lankton, September 2026) appointments. https://www.redwoodmaterials.com/news/
- Redwood Materials Post: collaboration with Toyota (21 June 2022). https://www.redwoodmaterials.com/news/redwood-materials-and-toyota-collaboration/
- Redwood Materials Post: partnership with Volkswagen Group of America (12 July 2022). https://www.redwoodmaterials.com/news/redwood-and-volkswagen-partnership/
- Redwood Materials Post: partnership with Ultium Cells (23 May 2024). Recycling of production scrap from the General Motors and LG Energy Solution joint venture (Ohio and Tennessee). https://www.redwoodmaterials.com/news/redwood-ultium-cells-partnership/
- Redwood Materials Post: collaboration with Caterpillar (recycling batteries from electric underground mining loaders). https://www.redwoodmaterials.com/news/redwood-and-caterpillar/
- Redwood Materials Post: the DOE's Argonne National Laboratory verifies the performance of cathode made with recycled content (13 October 2022). https://www.redwoodmaterials.com/news/argonne-national-laboratory-verifies-redwood-cathode-performance/
14. Claim-to-source audit
| Claim in the text | Status | Source |
|---|---|---|
| Founding (2017), sites (Nevada, South Carolina, San Francisco), history, and the mentions of BMW, Isuzu and other partnerships | Sourced | Reference 2 https://www.redwoodmaterials.com/about/ Reference 1 https://www.redwoodmaterials.com/ |
| Appointments of the CFO and COO in 2026 | Sourced | Reference 20 https://www.redwoodmaterials.com/news/ |
| The Redwood Energy business, Pack Manager, intake of more than 20 GWh a year (about 250,000 EVs' worth), and the Crusoe case | Sourced | Reference 3 https://www.redwoodmaterials.com/energy/ Reference 7 https://www.redwoodmaterials.com/news/redwood-energy-fast-low-cost-storage-to-power-the-age-of-ai-and-a-changing-grid/ (company statements) |
| The US$2 billion conditional commitment from the DOE Loan Programs Office (ATVM) of 9 February 2023, the start of copper foil production, and the expected 1,600 jobs | Sourced | Reference 4 https://www.redwoodmaterials.com/news/redwood-department-of-energy-loan/ (company statements; no DOE document confirmed) |
| The US$350 million Series E (23 October 2025) and its final close at US$425 million (28 January 2026) | Sourced | Reference 5 https://www.redwoodmaterials.com/news/redwood-announces-350-million-series-e-funding/ Reference 6 https://www.redwoodmaterials.com/news/redwood-materials-announces-final-close-of-425m-series-e/ |
| The Series C (more than US$700 million, 2021) and Series D (more than US$1 billion, about US$2 billion in total equity, 2023) | Sourced | Reference 19 https://www.redwoodmaterials.com/news/series-c-funding-700-million/ Reference 16 https://www.redwoodmaterials.com/news/redwood-series-d/ (company announcements) |
| Start of recovery in South Carolina (initial 20,000 tonnes a year), more than 60,000 tonnes in Nevada, and the review of 2025 | Sourced | Reference 9 https://www.redwoodmaterials.com/news/redwood-begins-critical-materials-recovery-in-south-carolina/ Reference 10 https://www.redwoodmaterials.com/news/2025-a-defining-year-for-redwood/ (company statements) |
| The expanded Crusoe work (12 MW / 63 MWh, 99.2% availability, 20 more modules) | Sourced | Reference 8 https://www.redwoodmaterials.com/news/redwood-and-crusoe-expand-compute-to-7x-scale/ (company claims) |
| The GM partnership (about 100 packs at a Michigan plant, 1.5 MW / 7.2 MWh, about 10,000 packs expected) and the non-binding MOU with GM | Sourced | Reference 11 https://www.redwoodmaterials.com/news/general-motors-becomes-first-automaker-to-partner-with-redwood-across-the-full-battery-lifecycle/ Reference 14 https://www.redwoodmaterials.com/news/redwood-and-gm-to-pursue-use-of-u-s-built-batteries-for-energy-storage/ (company plans) |
| The Rivian partnership (more than 100 packs, initially 10 MWh) | Sourced | Reference 12 https://www.redwoodmaterials.com/news/rivian-and-redwood-materials-announce-energy-storage-partnership-for-manufacturing/ (company plan) |
| Compliance with the 6th edition of UL 9540A and other tests (testing at UL Solutions, per the company) | Sourced | Reference 13 https://www.redwoodmaterials.com/news/redwood-s-energy-storage-systems-meet-and-exceed-new-safety-benchmark/ (company statement; reports not confirmed) |
| Panasonic's sourcing of high-nickel cathode (November 2022) and Argonne National Laboratory's verification of cathode performance (October 2022) | Sourced | Reference 15 https://www.redwoodmaterials.com/news/redwood-high-nickel-cathode-panasonic/ Reference 25 https://www.redwoodmaterials.com/news/argonne-national-laboratory-verifies-redwood-cathode-performance/ (company announcements) |
| Partnerships with Toyota, Volkswagen, Ultium Cells and Caterpillar on collection and recycling | Sourced | Reference 21 https://www.redwoodmaterials.com/news/redwood-materials-and-toyota-collaboration/ Reference 22 https://www.redwoodmaterials.com/news/redwood-and-volkswagen-partnership/ Reference 23 https://www.redwoodmaterials.com/news/redwood-ultium-cells-partnership/ Reference 24 https://www.redwoodmaterials.com/news/redwood-and-caterpillar/ (company announcements) |
| The paper's result that environmental impact is at least 58% lower than conventional mining supply chains (2021 data) | Sourced | Reference 17 https://www.nature.com/articles/s41467-025-56063-x |
| Tesla's 10-K lists Redwood as a related party, with transactions immaterial | Sourced | Reference 18 https://www.sec.gov/Archives/edgar/data/1318605/000162828026003952/tsla-20251231.htm |
| Classification of Redwood (recycling as main, storage systems as secondary) | Our calculation | our own grouping, based on the website and the 2025 to 2026 posts |
| Revenue, profit, headcount, R&D spending, current output of cathode and copper foil, test reports, and the basis for the availability figure | Not yet confirmed | Not in the official materials we checked; this article does not estimate them (items we could not confirm) |
| Whether the DOE loan was drawn or withdrawn | Not yet confirmed | Could not be confirmed from DOE's projects page; this article does not say it was drawn or withdrawn (outlook) |
| Investments, acquisitions or joint ventures by Redwood in other companies | Not yet confirmed | Not in the official materials we checked; this article does not claim that none exist (limit of our check) |
| Reading that the center of gravity has moved from materials manufacturing to recovery and storage, and that the strategy is to lock in intake through automaker partnerships | Inference | Reference 15 https://www.redwoodmaterials.com/news/redwood-high-nickel-cathode-panasonic/ Reference 11 https://www.redwoodmaterials.com/news/general-motors-becomes-first-automaker-to-partner-with-redwood-across-the-full-battery-lifecycle/ our interpretation of the pattern of partnerships |
| General statements on spread in remaining capacity and control, recycling economics and fire | Not yet confirmed | our own explanation (general statement, not Redwood's own specifications) |
Last updated: 10 October 2026 / Troy Technical
This article draws on the company page, pages and posts on Redwood Materials' official website, a peer-reviewed paper (Nature Communications), and Tesla, Inc.'s Form 10-K filed with the U.S. SEC. Market-research estimates and press-report-only figures are not used. Figures such as output and availability are the company's statements, and we have not found third-party verification. Passages marked "Inference" are our own reading of primary information and are not statements by the company.