Redwood Materials CEO JB Straubel told a US Senate hearing his company already receives approximately 6GWh of end-of-life lithium-ion batteries for recycling annually.
Tesla is ambitious to grow its energy storage business in 2022, after it reported a 32% year-on-year increase in battery storage deployments, executives including CEO Elon Musk have said.
The company behind what is claimed will be the largest lithium-ion battery recycling facility in North America intends to process as much material as it can from the energy storage system (ESS) industry.
LG Chem and LG Energy Solution have agreed to make a US$50 million investment into lithium-ion battery resource recovery and recycling company Li-Cycle.