The world is set on a path to electrify all transportation. Every major automaker is moving down this path and regulation around internal combustion engines and vehicle CO2 emissions is continuing to tighten. With nearly 100 million cars made annually and nearly 2 billion vehicles on the planet, the amount of materials in the future EV fleet and the environmental impact at end of life is enormous. We will be ready with solutions at the right scale to help make sure no EV batteries end up improperly disposed of and, instead, will turn this problem into a valuable materials stream returning to the battery production supply chain.
Transitioning the worlds electricity to renewable sources requires storage and is already becoming a major market for batteries. This could likely become a battery market larger than the entire EV market and will require robust end of life solutions and management. Redwood is working with project developers, utilities and businesses to plan project recycling solutions into up-front contracts. We also offer solutions for residential storage products at their end of life either directly with consumers or working with installers and contractors.