Overview

Redwood Materials focuses on battery recycling and the supply chain for lithium-ion batteries. The company addresses the need for sustainable battery production by transforming the supply chain, which currently involves critical metals traveling long distances before reaching cell factories. By recycling batteries, Redwood Materials produces domestic sources of anode and cathode materials, which are essential for battery production. This approach not only reduces costs for U.S. cell manufacturers but also minimizes environmental impact by decreasing reliance on overseas procurement. The company aims to support the growing demand for lithium-ion batteries, projected to increase significantly by 2030, by providing a sustainable and cost-effective solution for battery material sourcing.

Simplify's Take

What believers are saying

• Growing demand for EVs increases battery production scrap for Redwood's recycling.
• U.S. incentives for domestic battery production benefit Redwood's expansion plans.
• Advancements in battery chemistry improve Redwood's recycling efficiency.

What critics are saying

• Competition from established battery manufacturers threatens Redwood's market share.
• Delays in South Carolina facility construction could impact production goals.
• Fluctuating raw material prices may affect Redwood's profitability.

What makes Redwood Materials unique

• Redwood Materials creates a circular supply chain for lithium-ion batteries.
• The company offers domestic anode and cathode materials from recycled batteries.
• Redwood's partnerships with major automakers enhance its market position.

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Funding

Total Funding

$3792M

Above

Industry Average

Funded Over

5 Rounds

$1,000,000,000

Series D

Aug 2023

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.

Series D Funding Comparison

Above Average

Industry standards

Ind Avg. $77M

$49M

$50M

$70M

$80M

$100M

$1000M

View all funding stages