Former Tesla executive JB Straubel's battery recycling company is about to fetch a $5 billion valuation during its latest round of funding, according to a new report from FT. From there, the company plans on opening its first major facility in Nevada. Redwood Materials, founded in 2017, has the goal of acting as the missing link in the battery sustainability cycle. By reusing materials used in the batteries that are now ubiquitous in almost all major consumer products, including EVs, the company looks to reduce the need for mineral mining.…
