Operational Throughput
- Batteries recycled: Redwood processed 21,000 tons of end-of-life batteries in 2024, more than doubling its throughput since 2022. This expansion is driven by partnerships with automakers, consumer electronics firms, and battery manufacturers, and reflects the growing volume of batteries reaching end-of-life as EV adoption accelerates.
- Critical metals recovery: The company’s core innovation is its ability to recover >95% of lithium, nickel, cobalt, and copper from spent batteries. In 2024 alone, Redwood extracted 1,100 tons of lithium, 2,400 tons of nickel, 900 tons of cobalt, and 2,700 tons of copper-each a vital ingredient for new battery production. These numbers have steadily increased each year, underscoring both operational scaling and process efficiency.
Environmental and Financial Metrics
- GHG reduction vs. mining: Redwood’s closed-loop process achieves an estimated 70% reduction in greenhouse gas emissions compared to sourcing these metals from newly mined ore. This is due to lower energy requirements, elimination of long-distance shipping, and the avoidance of mining-related ecosystem disruption.
- Circular content in new materials: By 2024, Redwood’s new anode and cathode materials contained over 95% recycled content, up from 85% in 2022. This means batteries made with Redwood’s materials are almost entirely composed of recovered metals, a milestone for true circularity in the battery supply chain.
- Revenue growth: Revenue grew from $55 million in 2022 to $210 million in 2024, reflecting both increased recycling volumes and the company’s expansion into supplying remanufactured battery materials directly to U.S. cell producers.
Keyword Analysis
The increasing frequency of terms like “circular,” “recovery,” “lithium,” and “emissions” in Redwood’s reports mirrors the company’s strategic focus: scaling up closed-loop recycling, maximizing recovery rates, and quantifying environmental benefits.