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In the Nevada desert, a Tesla cofounder digs deep for the new black gold
- Redwood Materials, founded by Tesla cofounder JB Straubel, is leading North America's biggest battery recycling operation in the Nevada desert.
- CAM (Cathode Active Material), a key component of EV batteries, is the focus of Redwood Materials' recycling efforts.
- The company recycles over 70% of lithium-ion batteries in North America and generates revenue by selling valuable raw materials.
- Redwood's goal is to create CAM, the 'new black gold,' through advanced recycling processes instead of mining.
- The company aims to produce 100 gigawatt hours of CAM per year to support the production of 1.3 million EVs annually.
- Redwood's circular battery value chain involves collecting used batteries from various sources and recycling them efficiently.
- The recycling process at Redwood significantly reduces energy consumption, CO2 emissions, and water usage compared to traditional mining.
- The company faces challenges in producing high-quality CAM that meets battery manufacturers' specifications.
- Northvolt's bankruptcy highlights the risks in the battery recycling industry, but incentives for US battery production may benefit Redwood.
- Redwood's innovative approach and focus on sustainability position it as a key player in establishing a secure US source of battery materials.
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