Redwood Materials

Redwood Materials is a privately held U.S. battery recycling and critical-materials company founded in 2017 by ex-Tesla CTO JB Straubel: it collects scrap and retired EV packs, repurposes packs that still hold usable capacity into grid storage through Redwood Energy, and recycles the rest into nickel, cobalt, copper and lithium. No audited full-year revenue is published; the company says its recycling and refining business generates "nearly a quarter billion dollars" a year (period unstated, not annualized or estimated here). It closed a $425M Series E in January 2026 (about $2.3B raised in total), runs a 12 MW / 63 MWh Crusoe microgrid at 99.2% availability, and cut about 10% of staff in April 2026 while pivoting toward storage (SECONDARY).

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