"A year ago, Redwood Materials didn't have an energy storage business. Now, it is the fastest-growing unit within the battery recycling and materials startup - a reflection of an AI data center building boom. The evidence of that growth, the company says, can be found at its R&D lab in San Francisco, which has expanded four-fold into a 55,000-square-foot facility and now employs nearly 100 people."
"The company's recent $425 million Series E raise will provide the capital needed to scale the business. Google, a new investor, as well as existing backer Nvidia, joined the round to support Redwood's energy storage business venture. "AI data centers have definitely been a pressing area of focus," Claire McConnell, vice president of business development told TechCrunch in a recent interview, who added there are other use cases for its systems including supporting renewable projects like solar and wind."
Redwood Materials launched an energy storage unit in June 2025 that became its fastest-growing business within a year. The San Francisco R&D lab opened in April 2025 and expanded four-fold to 55,000 square feet, employing nearly 100 people. The total workforce is about 1,200 across a Carson City headquarters, a nearby Reno facility, and other sites. Engineers integrate hardware, software, and power electronics for energy storage systems that power data centers, AI computing, and large industrial applications. A $425 million Series E round with Google and Nvidia will fund scaling. Energy storage deployments are being driven by a data center building boom and long grid connection timelines.
Read at TechCrunch
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