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. Unlike competitors, Redwood Materials emphasizes recycling to create a sustainable supply chain for battery materials. The company's goal is to support the growing demand for lithium-ion batteries, projected to increase significantly by 2030, while promoting sustainability and cost-effectiveness in the industry.

Simplify's Take

What believers are saying

• Partnerships with BMW and GM boost Redwood's market presence and credibility.
• The $3.5 billion facility in Charleston expands production capacity significantly.
• Collaboration with Ultium Cells enhances Redwood's role in sustainable battery manufacturing.

What critics are saying

• Over-reliance on major partnerships could pose financial risks if they dissolve.
• Rapid expansion may strain resources and lead to operational challenges.
• Focus on North American production might limit global market adaptability.

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 recycling reduces the environmental footprint and cost of battery production.

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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