Redwood Materials Secures $350M Funding to Expand Grid Battery Production Amid AI Power Demand
The Nevada-based battery recycler and materials supplier has raised fresh capital to accelerate its energy storage business as electricity demand from AI data centers surges. The funding round was led by Eclipse with participation from Nvidia’s investment arm.
Major Funding for Domestic Battery Production
Redwood Materials, a prominent battery recycler and materials supplier, has reportedly secured $350 million in new funding to expand its grid-scale energy storage operations, according to company statements. The funding comes as electricity demand, particularly from artificial intelligence data centers, continues to surge across the United States.