Tesla executives listed as officers at materials recycling firm

Ken Copeland
May 4, 2017

The filing lists Tesla Chief Technology Officer J.B. Straubel and Tesla's head of Special Projects Andrew Stevenson as chief executive of the materials recycling company called Redwood Materials.

According to the SEC filing, Redwood Materials secured $2 million in funding from a single undisclosed investor in April.

After a SEC filing uncovered by CB Insights showed that two current Tesla executives started a new stealth company, the automaker is believed to be behind the new project, which apparently aims to create "advanced technology and process development for materials recycling, remanufacturing, and reuse". A Tesla spokesperson didn't answer The Verge's request for clarification. According to its website, the company focuses on recycling, re-manufacturing and re-using materials.

It's very likely that this has nothing to do with Tesla. Their office is in Redwood City, California, fairly close to Tesla headquarters in Palo Alto.

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The extent of Tesla's involvement with Redwood Materials is unclear, but if it were a partner, customer or even investor, it would certainly make sense. As noted by Electrek, Straubel has been known to invest in companies without any connection with Tesla, like his backing of new energy storage startup Axiom Exergy.

As for Stevenson, he recently highlighted "re-thinking the materials supply chain" as an area of focus during a keynote address titled, "Opportunities for Students in Building a Sustainable Energy Future", for Carnegie Mellon's 2017 Energy Week on March 28. If Tesla successfully increases production to a million cars annually by 2020, as founder Elon Musk hopes to achieve, it's going to have a huge supply of old batteries.

A wheel of a prototype of the Tesla Model 3 on display in front of the factory during a media tour of the Tesla Gigafactory, which will produce batteries for the electric carmaker in Sparks, Nevada, U.S. July 26, 2016.

This is all the information that is available about Redwood Materials at this time.

Other reports by Guamnewswatch

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