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Redwood Material has signed a deal to supply Japanese battery maker Panasonic with high-nickel content cathode materials for the a planned Kansas plant according to Redwood.
Redwood will supply the 30 GWh/yr lithium-ion battery factory once it comes on line in 2025 but did not indicate if it would be the sole supplier. The two companies are not strangers to cooperation, as Redwood began recycling manufacturing scrap from the Nevada Gigafactory shared by Tesla and Panasonic.
The Nevada-based battery materials start-up is working to expand its cathode production and recycling program to meet the growing US lithium-ion cell manufacturing industry. Redwood is aiming to produce 100 GWh/yr of cathode materials by 2025 and grow this to 500 GWh/yr of anode and cathode materials by 2030.
Redwood is also partnering with multiple automakers to build recycling partnerships in North America. Volkswagen is partnering with Redwood to recover and recycle EV battery packs from over 1,000 dealer locations in the US. Ford and Volvo also partnered with Redwood to start an electric vehicle battery recycling program in California. Likewise, Toyota is working with them to test and recycle hybrid batteries with plans to expand the partnership to include battery materials supply.
US president Joe Biden's administration is trying to encourage the growth of a domestic lithium-ion battery supply chain through tax credits contained in the Inflation Reduction Act. Under this law, EVs qualify for a full tax credit only if at least 50pc of their battery components are made in North America starting in 2024. Likewise, the US or a country with a free trade agreement with the US must provide 40pc of the value of the critical minerals in the battery. Argus Metals
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