February 16, 2023: Redwood Supplies receives a conditional dedication for a $2 billion mortgage from the US federal authorities to proceed with plans for the phased development of the primary battery supplies campus (see picture) in South Carolina, the corporate introduced on February 9.
Redwood stated the “milestone-based” funding, which can be acquired in tranches, is supplied by the Division of Vitality’s Mortgage Applications Workplace as a part of the Superior Expertise Automobiles Manufacturing Mortgage Program.
The announcement got here after the corporate started making anode copper foil at a facility in northern Nevada, only a 12 months after floor was damaged for that plant.
“Part one of many copper foil is full and later this 12 months, we count on to start the qualification of the cathode,” in keeping with Redwood.
Redwood ultimately plans to supply 100GWh per 12 months of ultra-thin battery-grade copper foil and cathode-active supplies from new and recycled feedstocks on a gigafactory scale within the US for the primary time. The corporate says it’s going to provide sufficient battery supplies to supply a couple of million electrical autos a 12 months domestically.
Final November, Redwood stated Panasonic could be the primary firm to supply its copper foil for cell manufacturing on the gigafactory in Nevada and its cathode materials for battery cell manufacturing at a brand new plant in Kansas, which focused to come back on-line in 2025.
