US battery recycling firm Redwood raises $350 million
With this new capital, Redwood will accelerate the expansion of its energy storage deployments, refining and materials production capacity, and engineering and operations teams.
US battery recycler Redwood has closed a USD 350 million Series E funding round, led by Eclipse with participation from new strategic investors including Nvidia’s venture capital arm, NVentures.
This oversubscribed round showed rapid growth across Redwood’s two core, integrated business lines: critical materials and grid energy storage, the company said.
“This is a pivotal time for both Redwood and the United States, as curtailment in international supplies overlaps with intense domestic demand growth for these same materials and energy products,” Redwood said in a statement. “Electric energy availability has become a key strategic issue for AI infrastructure growth. Low-cost, large-scale battery energy storage has emerged as the most immediate and scalable solution to enable AI factory deployment and unlock stranded grid and generation capacity.”
Besides powering data centers, this storage capacity will benefit industrial electrification and help address the intermittency of domestic renewable generation.
By combining deep materials and manufacturing expertise with advanced power electronics and software, Redwood is creating a new generation of US-made energy storage systems and reducing reliance on imported LFP batteries, it said.
With this new capital, Redwood will accelerate the expansion of its energy storage deployments, refining and materials production capacity, and engineering and operations teams.
