Less than two years after sharing expansion plans for Europe, US-based battery recycling specialist Redwood Materials is adding Germany to its map of locations. Today, the company announced the acquisition of Redux Recycling GmbH – the leading lithium ion battery recycler in the EU, as it looks to quickly expand its operations overseas.
Redwood Materials is a company led by Tesla cofounder JB Straubel that specializes in recycling, refining, and remanufacturing used battery materials, then returns them to US OEMs to build new cells, particularly for EVs.
In six short years, we’ve seen the battery recycling company hit major expansion milestones, earning a multi-billion dollar valuation while partnering with companies like Volkswagen Group, Panasonic, and Amazon.
With major financial backing and a new US headquarters being erected in South Carolina, Redwood’s battery recycling business continues to gain momentum, and for good reason. EV sales are expected to top $1.6 billion in the US this year alone, setting the stage for an major uptick in batteries on roads and eventually cells that will need to be recycled and repurposed.
As planned, Redwood Materials now has its sights set on Europe and has taken the reigns from the continents current leader in battery recycling to further expand its sustainability practices.
Redwood Materials looks to close supply chain in Europe
The battery recycling specialist shared details of its EU expansion today, which includes the complete acquisition of Redux Recycling GmbH located in Bremerhaven on Germany’s North Sea coast.
As the EU’s leading recycler of lithium ion batteries, Redux brings with it 10,000 tons of annual processing capacity from a centrally located footprint on the continent near one of its most prominent ports for automobiles. Thanks to this, Redwood Materials says it will be able to more easily transport, recycle, and repurpose vehicle battery packs brought in from all around Europe.
Through the acquisition, Redwood also gains a team of about 70 staff currently working at Redux (some seen above), including chemical engineers, metallurgists, and material scientists, who will continue their work in Europe under their new company.
In addition to EV packs and battery cells, Redwood says the Redux facility is also equipped to recycle e-bike batteries, stationary storage systems, and consumer electronics like cell phones, laptops, and even power tools.
No timeline on when Redwood Materials will officially hoist its logo up on its new facility in Europe, but today’s acquisition news represents the recycler making good on its expansion promise as it works to localize and create closed-loop supply chains in both the US and now Europe in order to drive down battery costs and promote sustainability for our planet.
Author: Scooter Doll
Source: Electrek
