Redwood Materials, a Nevada company that recycles batteries for electric vehicles and was founded by Tesla's former chief technology officer, has won a $2 billion green energy loan from the Biden administration.
"This region is leading the way to a broader story of what is happening in the country," Granholm said, pointing to a map of 80 manufacturing or supply chain companies that are expanding or opening in the U.S. Most have been announced in response to the infrastructure law President Joe Biden signed in 2021 and the climate law he signed last year, she said.
Redwood Materials was founded in 2017 by Jeffrey"JB" Straubel, Tesla's former chief technology officer. It now has more than 300 employees who recycle used batteries and has supply contracts with Ford and with Panasonic, which makes batteries for Tesla. Redwood Materials"is going to play this outsized role in bringing the batteries supply chain home — because you're focused on the pieces that we don't have in the United States,'' Granholm told employees at Thursday's event."You guys are making history in this.''
In December, the Nevada Governor's Office of Economic Development awarded $105 million in tax incentives to Redwood, the second-largest capital investment in the office's history, behind Tesla.
Pelosi just bought this last week
Can't wait for them to never pay it back.
🥳♻️