“As we think about long-term battery circularity, stationary storage decommissioning and recycling are an integral part of our business,” the company said.
Redwood Materials was founded in 2017 by Straubel. In addition to breaking down scrap from Tesla’s battery-making process with Panasonic, Redwood also recycles EV batteries from Ford, Toyota, Nissan, Specialized, Amazon, Lyft, Rad Power Bikes, and others. The company also produces anodes and cathodes, critical battery components, at a facility in South Carolina.
Many of the batteries from those first-wave electric vehicles, like the Nissan Leaf, are just now reaching the end of their lifespan and are in need of recycling. After receiving batteries from its various partners, Redwood begins a chemical recycling process in which it strips out and refines the relevant elements like nickel, cobalt, and copper. A certain percentage of that refined material can then be reintegrated into the battery-making process — 95 percent of key battery metals on average, according to Redwood.