Redwood spreads roots to European market

Following up on plans to spread its roots into the world's fastest-growing electric vehicle market, Redwood Materials Inc. has acquired the leading European Union battery recycler, Redux Recycling GmbH.

Located in Bremerhaven, on Germany's North Sea coast, Redux Recycling's facility is equipped to recycle up to 10,000 metric tons of lithium-ion batteries with a variety of chemistries.

Centrally located within Europe and near the distribution center of the Bremerhaven Port, one of the largest and most important harbors for vehicles, this strategic purchase enables Redwood the ability to transport, recycle, and refine EV packs and batteries from across the European continent.

"Europe continues to be the fastest growing EV market globally, driven by automakers commitments and strong government to support to electrify," the company penned in its announcement. "To support this demand and to further expand Redwood's operations and commitment to the European market, we've acquired Redux Recycling GmbH, the EU's leading lithium-ion battery recycler."

As part of the acquisition, Redwood also welcomes a team of roughly 70 experienced technicians, including chemical engineers, metallurgists, and material scientists, joining its existing team in Europe.

The company says Redux' expertise in mechanical separation will allow it to recover high-purity metal concentrate, a critical input for battery materials production, which should be further enabled by Redwood's technology – its advanced material recovery processes, such as hydrometallurgy, which complement Redux' pre-treatment and mechanical separation capabilities.

"This acquisition will provide us with a well-established EU presence to quickly expand operations, increase capacity for battery recycling, and work closely with already-established suppliers, customers and industry partners across Europe," the company wrote. "The European market for battery recycling and materials manufacturing is growing rapidly and the acquisition of Redux positions Redwood as a key player in this market."

The acquisition also includes Redux' proprietary technology, which has enabled it to extract valuable materials from batteries, including cobalt, lithium, nickel, and manganese, with a greater than 95% recovery rate, supplementing the high percentage recovery Redwood has already accomplished in the U.S.

With nearly $2 billion in new investment to expand its operations, Redwood is establishing a strong foothold in the European market.