A new recycling company with links to Tesla raises funding
The SEC has processed a new filing that suggests Tesla may be at work on yet another new initiative.
Specifically, the filing shows a $2 million investment in a months-old, Redwood City, Ca.-based company called Redwood Materials that describes itself at its site as focused on “advanced technology and process development for materials recycling, remanufacturing, and reuse.”
The filing lists Tesla’s cofounder and CTO, JB Straubel, and Tesla’s head of special projects, Andrew Stevenson, as executive officers.
It shows just one financial backer.
The research firm CB Insights had uncovered the filing last night, and it notes in a write-up that in a keynote speech delivered at Carnegie Mellon last month, Stevenson had recently highlighted “re-thinking the materials supply chain” as an area that Tesla was targeting for innovation.
Stevenson said then that other areas of focus for Tesla include selling “sustainable energy,” “scaling its service and support,” and focusing on “recruiting and education.”
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