Redwood Energy announced the final closing of its Series E financing round, bringing the total raise to US$425 million.

Critical minerals manufacturer and lithium-ion battery recycling company American Battery Technology Company (ABTC) has been selected to recycle batteries from the Moss Landing Energy Storage Facility in Monterey County, California, US.

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

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.