Redwood Materials raises and invests "hundreds of millions" in expansion of material production

Redwood Materials, which operates a 20,000 tpa recycling plant in Carson City, Nevada, will according to several media outlets invest "hundreds of millions" in a new facility in Rena, close to Tesla's and Panasonic's battery production facilities.

Redwood has previously revealed that they work with Panasonic in re-processing production waste from the Tesla gigafactory to go back into the supply chain as new battery materials.

The new facility will be located at the Tahoe-Reno Industrial Center. Moreover the company will expand its 150,000-square-foot facility in Carson City up to 550,000 square feet within the next two years. According to Forbes the investments is enabled by a large capital raise from private investors.

Redwood has previously announced that they are aiming to establish operation in Europe.

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