• Nevada-based e-waste recycling startup Redwood Materials has formed a partnership with Toyota to collect, refurbish, and recycle batteries and battery materials that can be sent to Toyota's North Carolina battery plant that is under construction. 

• As per the partnership, Redwood would initially focus on collecting batteries from Toyota’s hybrid vehicles that are reaching their useful life of nearly 20 years.  Redwood will refurbish these batteries for reuse depending on the condition of these batteries. If the battery cannot be refurbished, Redwood will recycle the batteries to recover battery-grade materials such as copper, lithium, cobalt, and nickel to be sent to Toyota for manufacturing new battery cells.

• Redwood will use its Northern Nevada Battery Materials Campus for this purpose and is also planning to expand into the east coast to operate within proximity to Toyota’s North Carolina factory.

<ul><li>Toyota is the latest addition to Redwood’s list of partnerships with popular OEMs such as Proterra, Ford , Volvo, and Panasonic.</ul>

• As of date, Redwood receives over 6 gigawatt-hours (GWh) of end-of-life batteries per year for recycling. The company plans to scale the production of anode and cathode components at its Nevada factory to 100 GWh per year by 2025 and reach 500 GWh per year by 2030. 

<ul><li> Analyst QuickTake: We featured Redwood at #3 in our EDGE100 report, where we identified the 100 most promising early-stage startups across various emerging industries that have the potential to reshape the future. Securing Toyota as one of its partners further validates our selection of the company as one of the most-promising early startups. Redwood continues to focus on expanding operations across North America and Europe and hold the largest capacity within the recycled electronic waste space.</ul>