JB Straubel’s Redwood Fabrics secures $2-billion DOE mortgage, starts pr

Posted on
March 04, 2023
Charles Morris

Upcoming a number of years of rest, the DOE’s Complicated Generation Automobiles Production Mortgage Program (ATVM), which budget innovation within the EV range, is ramping up its actions. Its untouched flagship mission is a $2-billion mortgage to Redwood Materials, the battery recycling company headed via Tesla alum JB Straubel. Redwood will draw upon this financing in tranches to backup the phased development and enlargement of its unused battery fabrics campus.

Above: Tesla Style 3s (Symbol: Casey Murphy / EVANNEX).

As Redwood explains, the 2 maximum very important parts in a battery are the anode and cathode. The cathode incorporates lithium, nickel and cobalt, and the anode incorporates copper and graphite. Those parts, which account for almost 80% of the fabrics value of a lithium-ion battery, are recently manufactured completely in a foreign country, predominantly in Asia.

Redwood is dedicated to production anode and cathode parts in america, and generating them from an expanding quantity of recycled content material. In January, the corporate started generating anode copper foil at its Northern Nevada facility. Segment Considered one of copper foil manufacturing is now entire, and Redwood expects to start out cathode qualification upcoming this generation.

Panasonic would be the first of a number of companions to supply Redwood’s copper foil, which it is going to worth for mobile manufacturing at Tesla’s Nevada Gigafactory. Panasonic will even worth Redwood’s cathode subject material for battery mobile manufacturing at its unused Kansas plant, which is predicted to return on-line in 2025.

Redwood will worth the DOE’s 2 fat ones to boost up the development and enlargement of its battery fabrics campus, the place the corporate targets to manufacture 100 GWh consistent with generation of ultra-thin battery-grade copper foil and cathode lively fabrics from each unused and recycled feedstocks—plethora battery fabrics to manufacture greater than one million EVs consistent with generation from US-made parts. 

“We have been working closely with the Loan Programs Office for more than a year, and have undergone an extensive diligence process that thoroughly reviewed our technology, our ability to repay the loan, product demand, and dozens of other factors to get to this stage,” says Redwood. “Our project allows battery and automotive manufacturers to meet the new stringent critical mineral and battery component requirements [of] the Inflation Reduction Act. These policies support the localization of the battery supply chain—Redwood’s core mission—and our operations ensure that the American battery industry has the necessary materials needed to successfully transition the US to a clean energy and clean transportation future.”


This text at the beginning seemed in Charged. Creator: Charles Morris. Supply: Redwood Materials

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