Redwood Materials takes stake in ERI – Recycling Today

Categories: News

Information technology and electronics asset disposition provider ERI, headquartered in Fresno, California, and Redwood Materials have formed an exclusive partnership to recycle batteries as well as solar panels. Carson City, Nevada-based Redwood Materials was co-founded by JB Straubel, formerly of electric vehicle (EV) manufacturer Tesla. Redwood is focused on creating circular supply chains and developing fully closed-loop recycling for lithium-ion batteries.

Under the terms of the partnership, Redwood Materials has made a significant strategic investment in ERI, though John Shegerian, co-founder and chief executive of ERI, declines to comment on the size of the company’s stake. Straubel, CEO of Redwood, also has joined ERI’s board of directors.

Shegerian tells Recycling Today that the partnership reflects ERI’s collaborative nature. “We have had massive success collaborating before with innovators and leaders—and now we have a third strategic downstream partner to help take us to unparalleled levels of recycling capability. Plus, the leadership and expertise level on our board is unmatched in our space—with LS Nikko Copper, Alcoa and now JB Straubel of Redwood Materials on our board—it puts us in rare air.” 

Continue reading the full article in Recycling Today.