Google invests in Redwood Materials
The final close for Redwood Materials includes continued participation from existing investors, Capricorn and Goldman Sachs Alternatives. The US battery recycler said the increase from the previously announced $350 million, with new investors including Google, ‘reflects confidence in our long-term strategy and execution.’
The addition of Google to Redwood’s investors reflects the growing need for energy storage from Big Tech companies, following Nvidia’s investment earlier in the round through its venture arm NVentures.
Redwood Materials has enjoyed increased attention for its move into energy storage in response to the increased electricity demand from data centres in the USA. The company’s battery network made it possible to supply second-life batteries for energy storage facilities. This has made it possible for grid balancing with renewable sources – which are cheaper and quicker to install than fossil fuels – for either utility-scale mini-grids or to balance existing grids.
In the middle of 2025, Redwood entered a partnership with GM for second-life battery applications for energy storage. The company says the new capital will accelerate its energy storage platform while continuing to strengthen its integrated recycling and critical minerals business. The latter also recently saw a move forward, as it began operations at its new South Carolina campus to recover and refine key battery materials.
0 Comments