Redwood Materials raises $1B to expand US battery supply chain

URLhttps://news.yahoo.com/redwood-materials-raises-1b
Sourceyahoo!news
Date Published08/29/2023
Author NameRebecca Bellan

Additional Reshoring Information:

Company/Division name Redwood Materials
Parent companyRedwood Materials
Type of work Manufacturing
Reshoring category:Reshoring
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2023
City reshored to:Charleston
State(s) reshored to:SC
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components, Fabricated Metal Products, Primary Metal Products (not including Foundries and Castings)
Product(s) reshoredrecycling batteries, cathode & anode copper
What non-domestic negative factors made offshoring less attractive?Green considerations, Supply chain interruption
What domestic positive factors made reshoring more attractive?Government Incentives, Raw Materials Cost, U.S. Department of Energy loan
Government Incentive dollar amount:$2bil
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