Energy

Axios - Battery recycler Redwood Materials unveiled a new business line to sell refurbished batteries, along with its first customer, at a launch event in Nevada last night. "This definitely has the potential to grow faster and to contribute more revenue than the core recycling business," Redwood founder and CEO JB Straubel told reporters before the event.

Straubel said over the past year or two, the company has noticed a growing number of EV batteries coming through Redwood's recycling business have enough battery capacity to be reused.

• Reusing the batteries creates "a lot more value creation," than harvesting the materials and metals, said Straubel.
• Redwood says the batteries it can repurpose are lower cost than completing new grid batteries, claiming costs from $100 to $200 per kilowatt hour for Redwood's second-life batteries.

.... Low-cost second-life batteries could emerge as a new source of energy storage for the power grid, buildings and data centers.  More