Tech Industry

Tesla execs sneakily start a reusable materials company

The energy company's CTO and head of special projects are listed as executive officers of Redwood Materials, a "recycling, remanufacturing and reuse" company.

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Redwood Materials, a new reusable materials startup, might have close ties to energy giant, Tesla.

An SEC filing, first spotted by CB Insights, revealed that Redwood Materials had listed J.B. Straubel (Tesla's CTO) and Andrew Stevenson (Tesla's head of Special Projects) as executive officers. The link to Elon Musk's energy company isn't any more explicit than that, but Redwood also received $2 million in investment from an unnamed investor in mid-April.

Redwood Materials' commitment to "Advanced technology and process development for materials recycling, remanufacturing and reuse," according to its website, would at least put it in the same camp as Tesla, if not directly in cahoots.

Tesla itself has moved beyond simply producing electric vehicles, offering solar power solutions and storage. Last year Musk announced the Gigafactory, the mega-scale production site for Tesla's products -- predominantly Lithium ion battery cells.

The connection to Lithium ion cells means that a focus on reusable materials makes sense for Tesla. The current demand for electric vehicles has put a strain on material lithium supplies.

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