Redwood Materials said Tuesday it acquired lithium-ion battery recycler Redux Recycling, a purchase meant to accelerate U.S. company’s expansion into Europe. This is Redwood’s second acquisition since former Tesla co-founder and CTO JB Straubel founded the battery materials and recycling startup in 2017. Last year, Redwood acquired a small UK recycling technology company. The company […],
Redwood Materials Expands Into Europe with Acquisition of Redux Recycling
Renewable energy and battery recycling company, Redwood Materials, has announced its second acquisition since its inception in 2017. The company, founded by former Tesla co-founder and CTO JB Straubel, has acquired lithium-ion battery recycler, Redux Recycling. This strategic acquisition is aimed at accelerating Redwood’s expansion into the European market.
Championing Sustainable Battery Recycling
Redwood Materials is focused on creating a sustainable future by recycling and reusing lithium-ion batteries. With the acquisition of Redux Recycling, the company strengthens its position as a leader in battery recycling technology. This move further supports the company’s mission to increase the availability of recycled battery materials and reduce the reliance on raw materials for battery production.
Driving the Transition to Renewable Energy
As the demand for electric vehicles and renewable energy sources continues to grow, the importance of efficient battery recycling becomes paramount. Redwood Materials recognizes this need and aims to address it by expanding its operations into Europe. By establishing a European presence through the acquisition of Redux Recycling, Redwood can better serve the region’s growing market for recycled battery materials.
A Promising Future for Redwood Materials
Redwood Materials’ acquisition of Redux Recycling not only marks a significant milestone in the company’s expansion efforts but also reinforces its commitment to sustainability. As the transition to renewable energy gains momentum, companies like Redwood play a pivotal role in ensuring the responsible disposal and recycling of lithium-ion batteries. With their continued efforts, Redwood Materials is poised to make a positive impact on the battery recycling industry both in Europe and worldwide.
Source: Electrek
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