Energy Storage News•about 1 month ago
US battery recycling in doldrums: updates from Redwood Materials, Ascend Elements
Key Takeaway
The financial distress of major US battery recyclers underscores the fragility of the domestic battery material supply chain, posing potential risks to the cost and sustainability of future battery storage deployments for developers and large power consumers.
AI Summary
- •Two prominent US battery recycling companies, Redwood Materials and Ascend Elements, are experiencing significant difficulties, with Redwood laying off 135 employees and Ascend filing for Chapter 11 bankruptcy.
- •This situation signals potential instability and supply chain risks for domestically sourced battery materials, which could impact the long-term cost and material availability for battery storage projects.
- •The struggles highlight the nascent and volatile nature of the US battery recycling market, suggesting that a robust circular economy for batteries is still far from established, affecting developers and large consumers relying on sustainable battery solutions.
Topics
financingoempolicystorage