Redwood Materials has closed a US$350 million Series E funding round to scale up its critical battery materials and energy storage businesses.

Three recent interesting steps forward on lithium battery sustainability, a growing concern and area of interest for the clean energy sector. 

US$100 million has been invested into North American lithium-ion battery recycling specialist Li-Cycle by a venture capital (VC) subsidiary of fossil fuels industry giant Koch Industries.

Former Tesla battery guru JB Straubel’s materials recycling company Redwood Materials has attracted more than US$700 million in investment.

A new lithium battery recycling facility, established by operator Li-Cycle on a commercial basis at the well-known Eastman Business Park in New York State, answers both a growing need and an opportunity in an “unprecedented phase” of deployment, the company has said.

Canada-headquartered start-up Li-Cycle has claimed a victory in commercialising its lithium battery recycling processes, with a shipment sent to a customer just before the end of last year.