Core Insights - Redwood Materials Inc. has raised $350 million in a Series E funding round, valuing the company at over $6 billion [1][2] - The funding round was led by Eclipse Ventures and NVentures, indicating a growing interest in clean energy, materials, and AI infrastructure [2] - The new capital will be used to accelerate the expansion of Redwood's energy storage business and enhance refining capacity and engineering operations [3] Company Overview - Founded in 2017, Redwood initially focused on recycling critical metals from used electric vehicle (EV) batteries and electronics [5] - The company is adapting its business model to address the slowing U.S. EV sales and the shift towards an AI-driven energy boom [5] - Redwood's Energy unit repurposes end-of-life EV batteries for stationary storage applications, supporting energy reliability and national security [6] Market Position - Redwood is a significant source of domestically sourced cobalt, nickel, lithium, and copper, which aligns with the U.S. administration's focus on securing critical mineral supplies [7] - The company is diversifying beyond battery recycling into grid-scale storage systems, which are experiencing rapid growth due to increased electricity demand from data centers [3][4]