Energy Storage News•14 days ago
US battery materials and BESS firm Redwood raises US$350 million Series E
Key Takeaway
This significant funding for Redwood Materials accelerates the domestic battery supply chain, promising greater availability and potentially lower costs for energy storage deployments critical to developers and large power consumers.
AI Summary
- •Redwood Materials secured US$350 million in Series E funding to significantly scale its critical battery materials and energy storage businesses.
- •This investment signals a strengthening domestic supply chain for battery components, potentially leading to increased availability and more competitive pricing for BESS projects.
- •The expansion of battery materials and energy storage operations supports accelerated deployment of BESS, offering enhanced grid flexibility, resilience, and new opportunities for developers and large power consumers.
Topics
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