Reno-based Redwood Materials has launched an online portal to give recyclers visibility when forwarding used batteries. The portal is currently limited to licensed automotive dismantlers and dealers in the United States, receiving all lithium-ion (Li-ion) and nickel metal hydride (NiMH) batteries from any auto recycler who has an EV battery pack. Recyclers are paid within 14 days of the battery being inspected in Europe. See deposit locations
Founded in 2017 by J.B. Straubel, former Tesla CTO, Redwood Materials announced a $5B valuation in August 2023 following a 700M Series D including Goldman Sachs and Capricorn Investment Group. The company expanded to Europe in 2023 following the acquisition of Swiss battery recycling company, Redux Recycling GmbH.