Redwood Materials
Recycling of lithium-ion batteries, recovering lithium, nickel, cobalt and copper, and production of cathode active material and anode copper foil. Redwood Energy, launched in 2025, builds grid-scale energy storage from repurposed batteries for data centers, utilities and industrial users.
Energy & climateBattery recycling, battery materials and energy storageCarson City, United States
FoundersSince 2017
- Valuation
- $6.0B
- Total raised
- $2.3B
- Last round · Jan 2026
- Series E (final close)
- Founded
- 2017
- Employees
- 1,200
- Quarters in VP50
- 7
Valuation
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Jul 28, 2021 | $3.7B | $700M | Funds and accounts advised by T. Rowe Price Associates, Inc. |
| Series D | Aug 29, 2023 | $5.0B | $1.0B | Capricorn's Technology Impact Fund, Funds and accounts advised by T. Rowe Price Associates, Inc., and Goldman Sachs Asset Management |
| Series E | Oct 23, 2025 | $6.0B | $350M | Eclipse |
| Series E (final close) | Jan 28, 2026 | $6.0B | $75M | Unknown |
Post-money valuation at each priced round. Log scale.Hover a point for the round
Updated
In VP50
- Q4 2023: #29
- Q1 2024: #29
- Q2 2024: #37
- Q3 2024: no place
- Q4 2024: no place
- Q1 2025: no place
- Q2 2025: no place
- Q3 2025: no place
- Q4 2025: no place
- Q1 2026: no place
- Q2 2026: no place
- Q3 2026: no place
- Q4 2026: no place
Place by quarter since Q4 2023. Best place #28, in Q4 2022.
Funding rounds
DateRound · leadRaisedValuation
Jan 28, 2026Series E (final close)$75M$6.0B
Aug 29, 2023Series D · Capricorn's Technology Impact Fund, Funds and accounts advised by T. Rowe Price Associates, Inc., Goldman Sachs Asset Management$1.0B$5.0B
Dec 29, 2022Convertible note (second offering)$154M—
Dec 29, 2022Convertible note (first offering)$45M—
Sep 1, 2020Series B$40M—
May 1, 2017Seed$2M—
Team
J.B. StraubelFounder, CEO- Andrew StevensonCo-founder, Former CFO
- Deepak AhujaCFO
- Cal LanktonCOO
- Colin CampbellCTO
