Redwood Materials is innovatively repurposing functional but depreciated electric vehicle (EV) batteries into modular energy storage systems, significantly reducing costs compared to new storage solutions. Founded by a former Tesla executive, the company has formed Redwood Energy to implement this initiative, which not only helps in recycling but also addresses energy grid reliability. With an influx of batteries from old EVs, Redwood aims to transform this resource into large-scale energy solutions, advancing a sustainable approach in the energy sector as more EV batteries become available for repurposing.
Redwood Materials is leveraging still-functional EV batteries to create cost-effective, modular energy storage systems that address gaps in the energy grid and promote recycling.
The new division, Redwood Energy, utilizes these 20 GWh of batteries, representing a significant portion of North America's lithium-ion battery recycling, to build large-scale energy solutions.
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