U.S. battery recycling company Redwood Materials has completed the final closing of its Series E financing round, lifting the total raised to $425 million after adding Google as a new investor, the company said.
Redwood had previously announced $350 million raised in the round. The final close includes continued participation from existing backers Capricorn and Goldman Sachs Alternatives, alongside new investors including Google. Redwood said the additional capital “reflects confidence in our long-term strategy and execution.”
See also: Redwood Materials Raises $350 Million to Power AI Data Centers with Repurposed EV Batteries
The entry of Google follows an earlier investment in the round by Nvidia through its venture arm NVentures, highlighting growing interest from large technology companies seeking energy storage solutions as electricity demand from data centres rises.
Redwood has gained increased attention for expanding into stationary energy storage, using second-life batteries sourced from electric vehicles. The company said its battery network enables the deployment of repurposed batteries for grid-balancing applications, supporting renewable energy integration for both utility-scale mini-grids and existing power networks. Such systems can be deployed more quickly and at lower cost than new fossil fuel-based generation, according to the company.
See also: Redwood Materials Launches Second-Life Battery Venture for Grid-Scale Energy Storage
In mid-2025, Redwood entered a partnership with General Motors to develop second-life battery applications for energy storage. Redwood said the new funding would be used to accelerate its energy storage platform while continuing to strengthen its core recycling and critical minerals operations.
The company has also advanced its recycling footprint. Redwood recently began operations at a new campus in South Carolina, aimed at recovering and refining key battery materials, as it seeks to build a more integrated domestic supply chain for electric vehicle batteries and energy storage systems.
