Redwood Materials, the company started by former Tesla co-founder JB Straubel that aims to create a circular supply chain for batteries, is expanding its business. While it has been known primarily as a recycling firm, Redwood plans to simplify the supply chain by producing critical battery materials right here in the U.S.
To get there, the company is currently scouting a location for a new million-square-foot factory, at a cost of over $1 billion, Bloomberg reported. That factory would be dedicated to the production of cathodes and anode foils, the two essential building blocks of a lithium-ion battery structure – up to a projected volume of 100 gigawatt-hour per