Reported about 10 hours ago
Redwood Materials, a battery recycling and cathode production firm, has successfully raised $350 million to enhance its energy storage business aimed at supporting the booming AI data center industry. This Series E funding round, which included contributions from Nvidia's NVentures, has increased the company's valuation to approximately $6 billion. The new capital will help Redwood expand its storage capabilities and workforce, utilizing discarded electric vehicle batteries to create renewable energy systems for industrial clients.
Source: YAHOO