Reported about 6 hours ago
Battery recycling company Redwood Materials has successfully raised $350 million in a funding round led by Eclipse Ventures, with participation from Nvidia. This fundraising effort comes amid a global push to enhance the supply of critical materials, essential for energy storage and battery manufacturing, particularly as demand grows due to advancements in artificial intelligence technology. Founded in 2017 by former Tesla executive J.B. Straubel, Redwood aims to expand its operations and production capacity using the new capital.
Source: YAHOO