Tesla’s former CTO will get $2 billion mortgage from the US for EV battery recycling – Redwood Supplies

Redwood Supplies, a recycling enterprise based in 2017 by Tesla’s former Chief Know-how Officer and cofounder JB Straubel, obtained a conditional mortgage of $2 billion from the Division of Vitality, which beforehand assisted Tesla.

The funding will likely be utilized by the battery recycling startup to construct and develop its battery recycling facility outdoors of Reno, Nevada. When accomplished, the mission would be the first in america to help the manufacturing of anode copper foil and cathode energetic supplies in a completely closed-loop lithium-ion battery manufacturing course of.

The ability processes end-of-life electrical car batteries and automotive manufacturing scrap to provide uncooked supplies and merchandise used to fabricate new EV battery cells.

Based on the Vitality Division, Redwood Supplies will create roughly 3,400 building jobs and make use of roughly 1,600 full-time workers.

Redwood said that it expects to provide 100 GWh per yr of ultra-thin battery-grade copper foil and cathode-active supplies in america from each new and recycled feedstocks.

In Nevada, Redwood Supplies already has a pilot plant producing anode copper foil. The DOE said that it goals to help the manufacturing of a couple of million EVs per yr, which may assist drivers keep away from an estimated 3.5 million tons of CO2 and different tailpipe emissions annually.

Final yr, Redwood Supplies agreed a multi billion greenback deal to produce high-nickel cathode to Tesla provider Panasonic starting in 2025.

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