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 building of the primary battery supplies campus (see picture) in South Carolina, the corporate introduced on February 9.
Redwood stated the “milestone-based” funding, which shall be acquired in tranches, is offered by the Division of Vitality’s Mortgage Packages Workplace as a part of the Superior Know-how Autos Manufacturing Mortgage Program.
The announcement got here after the corporate started making anode copper foil at a facility in northern Nevada, only a yr after floor was damaged for that plant.
“Section one of many copper foil is full and later this yr, we count on to start the qualification of the cathode,” in line with Redwood.
Redwood ultimately plans to provide 100GWh per yr 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 would provide sufficient battery supplies to provide a couple of million electrical autos a yr 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 return on-line by 2025.
