Redwood Materials

“Redwood Materials, they raised seven hundred million dollars last summer, which is, Huge for the kind of climate tech, clean tech space. That, that deal valued them at 3.7 billion dollars.”

“I think the brutal truth is, is that it's a cost center, and that inputs, recycled inputs, are ultimately a tolling operation unless Redwood can pull off owning the supply. Because if Redwood can pull off owning the supply, then it owns the mine of the future,…”

“Currently, all three of these companies are living off of gigafactory scrap, which is exceptionally high, over, over 20%, as I understand it.”

“We do a very brief electrical inspection. Something like five minutes, cell balance impedance check, and we literally wheel it out to the field where we have a spot for it and plug it in. So we are not opening up the packs. We are not removing the modules. We …”

“We can certainly play in the two hour, four hour markets with repurposed EV packs, second life packs. Where we see them really starting to shine, though, is in the longer duration. Markets. So four hour, eight hour, maybe longer, maybe 20 hour. And that's beca…”

“So from a physical perspective they're usually almost new. And then from an electrical and electrochemical perspective we receive them when a customer might get frustrated with them, typically. So that's something like I've lost 20% of my range, or the acceler…”

“Today they're predominantly NMC. You could think of it as what we get is what was built roughly 10 years ago. So we're time shifted from the manufacturing trends.”

“We think we can refurbish and deploy Gigawatt hours. Low single digit gigawatt hours this year, next year.”

“We're totally agnostic to chemistry type. So because of the power electronics that we've developed, we can really easily integrate low capacity, high capacity, high nickel, LFP new, old, low voltage, high voltage packs, whatever it is we're ready to plug it in…”

“We don't have to choose, right? So we Typically we'll do both. We will send a battery out to a grid scale energy storage site to provide grid services when that is economically sensible, which is 95% of the time, and then we will go on to recover the metals va…”

“We are already collecting north of 80% of the end of life EV packs across the nation.”

“The economics are different for LFP, but they still solve. The metals values are lower. The cycle life is different. The degradation is different. The energy value is different, but it still makes sense to deploy them on the grid used LFP packs.”

“So today it's on the order of five gigawatt hours a year that's coming off the road.”

“I think it's something like 80% of the energy storage is going into EV. So that's where most of the gigawatt hours are going to come out. Which is really good for grid storage because those are the packs that are going to be easiest to redeploy. Those are the …”