Sparks, Nevada — According to state and local economic development sources Redwood Materials plans to invest $1,100,000,000.00 to build out new space in Sparks. The company plans to occupy the new space at Tahoe Reno Industrial Center in Sparks, on or about May 1, 2024. According to the company website Redwood is developing a fully closed-loop, domestic supply chain for lithium-ion batteries. Our team manufactures critical battery components using as many recycled batteries as possible localizing a 50,000-mile global supply battery chain on a single site. Headquartered in Carson City, Nevada, and founded by Teslas former Chief Technology Officer and Co-Founder JB Straubel, Redwood Materials works with multiple partners that have existing operations across the U.S., such as Volvo, Envision AESC, Proterra, Panasonic, Volkswagen and Audi, for reclaiming and recycling end-of-life batteries and production scrap to produce battery components. Redwood Materials recovers more than 95 percent of the metals (including nickel, cobalt, lithium, and copper) from batteries, and uses these to remanufacture anode and cathode components. The company then supplies these components back to the U.S. battery cell manufacturers without the metals ever leaving the country. Additionally, the auto industry has been ramping up production of electric vehicles to meet a demand surge, driving up orders for batteries and raw materials that have limited supply.

To learn more about Redwood Materials, visit http://www.redwoodmaterials.com/

Company Contact:
JB Straubel, Chief Executive Officer
https://www.linkedin.com/in/jb-straubel-b694981/
847-924-3890

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