Redwood Materials, based in Carson City, Nevada, was founded in 2017 by J.B. Straubel, who is CEO. A co-founder of Tesla along with Elon Musk, Straubel was the car maker’s chief technology officer before leaving in 2019 to focus on Redwood. The company has developed a sustainable battery recycling technology, which processes scrap from battery cell production and consumer electronics and helps clients turn it into electric vehicles and energy products, effectively reusing and processing raw materials into the battery supply chain.
In November, Redwood announced that it landed a multibillion-dollar deal to supply battery components to Panasonic as efforts accelerate to build a domestic supply chain in North America to support an expected growth in EV sales. Redwood said it will supply Panasonic with cathode material for EV battery cells produced at a new factory currently under construction in Kansas.
Among Redwood’s leading investors are Ford Motor and Valor Equity Partners. Redwood, whose last known valuation was more than $4 billion and has raised at least $750 million, hasn’t officially announced any plans for an IPO.
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The stock price for Redwood Materials will be known as it becomes public. Here are similar public companies: Blade (NASDAQ: BLDE), Fast Radius (NASDAQ: FSRD), Joby Aviation (NYSE: JOBY), Procore Technologies (NYSE: PCOR), Rocket Lab (NASDAQ: RKLB).
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Redwood Materials is a private company and not publicly traded.
If you are interested in buying or selling private company shares, you can register with Forge today for free to explore your options. Registering gives you access to one of our Private Market Specialists who can guide you through the process of buying or selling. Learn more about how Forge might help you buy pre-IPO shares or sell pre-IPO shares.
Redwood Materials is located in Carson City, Nevada.
The Chief Executive Officer of Redwood Materials is JB Straubel.