A not-so-farmiliar household name has assembled $4 billion in private and public funding for EV battery recycling.
The McCarren facility also handles end-of-life batteries from other consumer goods, including cellphones, laptops, and power tools, along with other electronic waste. Presumably, spent EV batteries will account for an increasing proportion of Redwood’s feedstock as more EV battery packs reach the end of their lifespans.
,” Redwood explains. The cost of transportation is also a sticking point, including the cost of shipping spent batteries from an out-of-life car to a recycling center.As for that $2 billion from the Energy Department, the Loan Programs Office was establish by Congress during the Bush administration, tasked with stepping in to help bring new high risk, high reward energy-related technologies to market.
“LPO works with all borrowers to create good-paying jobs with strong labor standards during construction, operations, and throughout the life of the loan and to adhere toEV battery recycling will have a significant impact on the domestic battery supply chain, if all goes according to plan. The Energy Department expects that materials from Redwood will support the manufacture of more than 1 million new electric vehicles annually in the US.
“To meet increased demand for lithium-ion batteries, recycling will play an increasingly important role in battery materials production,” the Energy Department notes. “On average, Redwood can recover greater than 95% of the critical battery elements in an end-of-life battery , and then use those metals to manufacture anode and cathode components domestically for U.S. battery cell manufacturers.
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