Redwood Secures $350 Million Series E to Boost U.S. Energy Storage Expansion

According to a recent announcement by Redwood Materials, the Nevada-based battery recycling and materials technology company has completed a $350 million Series E funding round, led by Eclipse with participation from new strategic investors including NVentures, the venture capital arm of NVIDIA. The oversubscribed round reportedly reflects growing investor enthusiasm for Redwood’s two integrated business lines—critical materials recovery and large-scale grid energy storage.

The company said the fresh capital will be used to expand its U.S. manufacturing and refining capacity, accelerate energy storage deployments, and strengthen engineering and operations teams. Redwood emphasized that the investment will help meet surging domestic demand for advanced storage technologies and essential minerals such as cobalt, nickel, copper, and lithium.

The announcement comes amid tightening global supplies of key materials and rapidly rising U.S. demand for energy storage solutions. As electricity consumption driven by artificial intelligence (AI) infrastructure and data centers continues to soar, battery-based storage is becoming a vital enabler for stable and cost-effective power distribution. Analysts note that such systems play a key role in industrial electrification, renewable energy balancing, and grid resilience. When paired with natural gas turbines or emerging nuclear power technologies, large-scale storage can significantly improve grid efficiency and reliability.

According to the company, its vertically integrated model combines recycled-materials recovery, power electronics, and software expertise to produce a new generation of U.S.-made storage systems. These systems are designed to serve data centers, industrial facilities, and national grids, while reducing reliance on imported lithium iron phosphate (LFP) batteries. From recovering critical metals to manufacturing cathode materials and complete storage units, Redwood aims to strengthen the U.S. supply chain for clean energy technologies.

Reports indicate that Redwood’s latest financing aligns closely with U.S. federal initiatives promoting clean technology manufacturing and critical minerals independence. With strong backing from both public and private sectors, Redwood’s expansion could reinforce America’s leadership in the global energy transition and support the nation’s long-term goal of building a secure, sustainable industrial base.

Source: Redwood Materials