Redwood Materials & egrave; a startup created by Tesla co-founder JB Straubel , known above all for working in the sector of battery recycling and, in particular, those for electric cars. In fact, this company is born with the aim of creating a circular supply chain for the creation of accumulators. Recycling is therefore only a part of its activities. The company & agrave; has therefore announced the enlargement of its operational perimeter.
Obviously , the activities recycling will continue. Alongside these, for & ograve ;, Redwood Materials will take care of & agrave; to refine the recovered raw materials to produce elements that will be used to make new accumulators.
Redwood will produce; strategic battery materials in the United States, providing battery cell manufacturing partners with copper foils for the anode and active cathode materials.
These are key building blocks of the battery cells.
We plan to transform the lithium ion battery supply chain by offering large-scale sources of these materials produced from all available recycled batteries and with sustainably mined material. These two products will become a closed loop and will reuse all the lithium, copper, nickel and cobalt they already have. we recover from the old batteries.
These are really ambitious goals and to achieve them, the company & agrave; announced that by 2022 will announce & agrave; a site in North America where it will be; built a factory who will take care of to produce the materials for the batteries. The goal for 2025 is to arrive at a production of the elements for the accumulators described above which will allow to realize 100 GWh of batteries per year. By 2030, the target is 500 GWh/year, enough to build enough batteries to power five million electric vehicles.
Recycling alone will not bring the company to this type of production numbers, although Redwood is also planning to expand its recycling operations. As mentioned previously, sustainably extracted materials will also be used at the beginning.
In addition to creating a circular supply chain that will allow for to make the accumulators truly sustainable, this project, if it will go; in port, will allow & agrave; to decrease the dependence of the United States on the battery component industry of Asia . According to Bloomberg, the overall investment will be; of over $ 1 billion . And after the United States, in 2023 it could be Europe's turn.
No partners have been mentioned for this project but it is; may be announced more & ugrave; come on. We will certainly know more about this initiative; in the future.
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