Redwood Materials Overview
Pro stress-test →Redwood Materials operates a battery-materials platform intended to build a domestic closed-loop supply chain for lithium-ion batteries. The company annually processes approximately 90% of all lithium-ion batteries and battery materials recycled in North America, and produces as much lithium and nickel as the country's largest mines while being the only major domestic source of cobalt. Founder and CEO JB Straubel is refocusing the company on grid-scale energy storage, anchored by new supply deals with Rivian and Crusoe Energy.
Strategic Profile
Pro stress-test →Redwood Materials is valued at $6B as of January 28, 2026, backed by marquee institutional investors including Goldman Sachs, Microsoft, Ford, and T. Rowe Price. The company announced the final close of a $425M Series E round in December 2025 to scale energy storage. However, the company is undergoing significant structural changes, with a 10% workforce reduction announced in April 2026 as it pivots toward higher-margin energy storage and data center applications.
Competitive Landscape
Pro stress-test →Redwood competes with battery recycling startups including Lohum Cleantech. However, Redwood's >90% market share of North American lithium-ion recycling, sole domestic cobalt production, and partnerships with Rivian and Crusoe for energy storage applications establish a durable competitive moat. Threats include international recyclers (Li-Cycle), established mining companies entering recycling, and new entrants attracted by rising EV volumes and AI power demands.
Industry Context
Redwood Materials operates in Battery recycling and critical minerals recovery.
Key facts
Founded: 2017 · Headquarters: Carson City, US · Employees: 1,200 · Market cap: $6B