A new recycling company with links to Tesla raises funding

Tesla Chief Executive Elon Musk Tesla Chief Technical Officer JB Straubel and Yoshi Yamada senior advisor from Panasonic participate in a news conference at the Tesla Gigafactory near Sparks

Tesla Chief Executive Elon Musk Tesla Chief Technical Officer JB Straubel and Yoshi Yamada senior advisor from Panasonic participate in a news conference at the Tesla Gigafactory near Sparks

According to a write-up by CB Insights, this supposed new company doesn't involve Musk directly, just some of Tesla's executives: CTO JB Straubel and Special Projects head Andrew Stevenson.

According to the SEC filing, Redwood Materials secured $2 million in funding from a single undisclosed investor in April. The simplistic website describes the venture as "advanced technology and process development for materials recycling, remanufacturing, and reuse".

We asked Tesla for a comment since everything points to the company being behind this new startup and we will update if we get an answer. Previous year he said Tesla would recycle electric vehicle batteries and reuse those materials.

This should most likely be enough evidence to light up massive 'pointers' in the direction of Tesla and its legendary founder - who's primary objective is to focus on reusability, cost-reduction, and sustainability. Their office is in Redwood City, California, fairly close to Tesla headquarters in Palo Alto. The problem with cobalt is it should also be considered a conflict mineral - it's most plentiful in Congo, where child laborers and other oppressed workers toil in inhumane conditions for sketchy mining companies owned by Chinese conglomerates that then sell it to major battery makers like Samsung and Apple, according to a Washington Post investigation past year. And earlier this year, the company opened the Gigafactory to produce battery cells for its energy storage products.

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While it is unclear whether Tesla has any direct involvement in the Redwood's business, a relationship would seem to complement Tesla CEO Elon Musk's drive for supply chain efficiency. The company listed "re-thinking the materials supply chain" as one of its focus areas in a March 2017 keynote.

Meanwhile, Redwood Materials has a bare website as of press time.

Last night, CB Insights spotted a new SEC filing for a company called Redwood Materials.

Tesla has always maintained that in the long-term, recycling will be an important part as "battery packs are depleted and can be reuse to make new ones", notes Electrek.

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