Redwood Materials, the electric vehicle battery recycling and manufacturing venture has secured a $2 billion loan from the Biden administration.
![a pile of silver foil sitting on top of a pile of silver foil](https://www.thefuturescentre.org/wp-content/uploads/2023/06/gft6vfdvdbk-800x500.jpg)
So what?
Their chemical recycling process strips out and refines the relevant elements like nickel, cobalt, and copper from batteries. They are also a key player in building the US’ domestic battery supply.
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