Battery recycling specialist Redwood Materials has just gained another major automaker as a client, signing a partnership with BMW of North America. Redwood will help recover and recycle end of life lithium-ion cells and their rare materials from BMW Group marques like MINI and Rolls-Royce.
Today’s latest partnership announcement only helps solidify Redwood Materials’ current status as the industry leader in battery recycling. The company, founded in 2017 by Tesla co-founder and former CTO JB Straubel, has found quick success in creating a more circular economy around lithium-ion batteries and their precious materials, such as cobalt, copper, lithium, and nickel.
In the past few years especially, Redwood has earned the business of several major OEMs, including Ford, Volkswagen Group, and Volvo. In turn, Redwood has recycled those brand’s batteries and resold their materials and components to companies like Panasonic and Toyota for a new life in EVs.
The company is quite good at what it does, too. In 2023, it was touting 95% efficiency in a battery recycling pilot, which helped it garner huge government loans to build reborn EV batteries and a huge company valuation (over $5 billion as of September 2023).
As Redwood Materials continues to expand its battery recycling operations on two continents, it continues to add clients to its Rolodex, which now includes BMW.
Redwood to offer battery recycling to BMW and MINI in US
BMW of North America shared details of its new partnership with Redwood Materials today, which includes battery recycling of lithium-ion cells from all-electric, plug-in, and mild hybrid vehicles from BMW Group marques in the US, including MINI, Rolls-Royce, and BMW Motorrad.
BMW states that Redwood will now work directly with the automaker’s network of nearly 700 locations across the US, which includes dealerships, distribution centers, and other facilities. The battery recycling specialist will help recover BMW’s end-of-life lithium-ion cells and take them to its facilities in Reno, Nevada, where it can do what it does best – recycle and refine their critical minerals. Redwood’s chief commercial officer, Cal Lankton, spoke about the new partnership with BMW:
The transition to electric mobility presents a tremendous opportunity to rethink how we manage the batteries that power our clean energy future. Our partnership with BMW of North America ensures responsible end-of-life battery management that will improve the environmental footprint of lithium-ion batteries, help decrease cost and, in turn, increase access and adoption of electric vehicles.
As mentioned above, Redwood promises that 95% to 98% of the critical minerals recycled will be returned to the battery supply chain and put into new EV models. Battery recycling is a critical yet nascent industry for EV adoption and sustainability, as the current materials inside EV batteries are nearly infinitely recyclable and are not lost in their lifetime of usage.
Redwood’s recycling processes are also a far better option than anyone else today since they have a significantly smaller environmental impact than conventional mining or other recycling technologies. Redwood states its recycling and refining of said materials reduces energy by 80%, CO2 emissions by 70%, and water by 80%.
As we’ve previously reported, Redwood is in the process of erecting a new battery recycling campus in Charleston, South Carolina, not far from BMW Group’s production plants in Spartanburg and Woodruff.
FTC: We use income earning auto affiliate links. More.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66ed1b13c9d84cf0b4398cab3c2b62ee&url=https%3A%2F%2Felectrek.co%2F2024%2F09%2F19%2Fbmw-north-america-partners-redwood-materials-ev-battery-recycling%2F&c=4929508671837630328&mkt=en-us
Author :
Publish date : 2024-09-19 08:42:00
Copyright for syndicated content belongs to the linked Source.