From TechCrunch, May 23:
Redwood Materials, the battery recycling startup founded by former Tesla co-founder JB Straubel, will be recycling production scrap for batteries going into General Motors electric vehicles.
The company announced Thursday that it’s working with Ultium Cells, the joint battery manufacturing venture between GM and LG Energy Solution, to recycle cathode, anode and cell scrap from both their Warren, Ohio and Spring Hill, Tennessee facilities.
Battery recycling is a hot industry as automakers and battery manufacturers seek to control their battery material supply, rather than rely on China, the global leader in the space. Incentives in the U.S. and in regions like Europe are piling up for recycled and domestically produced critical battery materials — like lithium, nickel, cobalt, manganese and graphite.
President Joe Biden’s Inflation Reduction Act, signed in August 2022, provides a tax credit for battery manufacturing and critical mineral processing. Redwood benefited directly from that bill passing in February 2023, when the Department of Energy gave the startup a $2 billion loan to build out its battery recycling facility in Nevada. The DOE also gave Ultium Cells a $2.5 billion loan to develop its cell manufacturing facilities in the U.S....
....MUCH MORE
We are firm believers in the concept of finding waterfalls of money and standing close enough to experience the refreshing splashes that will come your way. Or, here's a 2018 variant:
...One of the easiest ways to take advantage of the world is to find a firehose of money and go stand next to it. With enough moolah splashing around some of it is sure to land on you....Most recently on Redwood (May 16):Battery Recycling: Watch Out Redwood Materials
Redwood Materials is a company I would like to own. Preferably in its entirety bu if that is not possible a share of the business would be acceptable. Some links below....
