![]() In addition to the Nevada facility, which Redwood claims is already processing some copper anode materials, the company plans to open a facility near Charleston, South Carolina, also at an estimated cost of $3.5 billion. Toyota and Redwood Materials battery recycling Redwood was founded in 2017 by former Tesla CTO JB Straubel, who told Reuters that the company plans to draw down the first loan tranche later this year to fund scaling up the Nevada facility, located near Reno in the northern part of the state. This follows last year’s conditional commitment that General Motors’ Ultium Cells LLC joint venture with LG would receive the first ATVM loan in a decade. ![]() The loan comes from the Advanced Technology Vehicles Manufacturing (ATVM) program, which once provided funding to Tesla and other automakers for EV-related projects. Rendering of proposed Redwood Materials cathode factory Redwood will play an “outsized role in bringing the battery supply chain home,” energy secretary Jennifer Granholm said in an interview with Reuters. The loan, which must still be finalized, is a step toward the Biden administration’s goal of building up the domestic EV supply chain. ![]() The DOE on Thursday made a conditional commitment for the loan, which would go toward a $3.5 billion recycling and remanufacturing facility in Nevada, according to a Reuters report. ![]() Department of Energy (DOE) to expand its operations. Battery-recycling firm Redwood Materials may soon received a $2 billion loan from the U.S. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |