Core Insights - Ecobat has successfully completed the sale of its battery recycling and specialty lead operations in the UK to funds advised by Splitstone Capital LLP, marking a strategic shift for the company [1][2]. - The divestiture aligns with Ecobat's strategic plan to focus on North America and lithium-ion battery recycling operations, following similar divestitures in France, Italy, Germany, and Austria [2]. Company Overview - Ecobat is recognized as the world's largest recycler of batteries, providing innovative solutions for battery recycling, resource recovery, and energy storage [3]. - Splitstone Capital LLP, founded in 2024, is a private equity firm based in London that specializes in acquiring non-core divestment opportunities in the industrial and business services sectors [3]. Transaction Details - The transaction includes Ecobat's facilities located in Matlock and Welwyn Garden City [1]. - Rothschild & Co served as the financial advisor, while White & Case acted as the legal advisor for Ecobat during this transaction [2].

Core Insights - Redwood Materials has successfully closed a $350 million funding round led by Eclipse Ventures, with participation from NVentures, amid a global push for domestic supply of critical materials [1][2] Group 1: Company Overview - Redwood Materials, founded in 2017 and led by J.B. Straubel, focuses on recycling batteries to recover critical elements such as lithium, cobalt, nickel, and copper [2][3] - The company also provides energy storage systems that support grid services and power data centers [2] Group 2: Market Context - The funding comes at a crucial time when international supply constraints coincide with rising domestic demand for critical materials and energy products in the United States [2] - The growing use of artificial intelligence technologies is driving significant energy demand, further emphasizing the need for domestic supply solutions [1][2] Group 3: Financial and Operational Plans - Following a previous funding round in August 2023 that valued the company at $5 billion, Redwood plans to utilize the new capital to expand its energy storage operations, increase materials production capacity, and grow its workforce [4]

Financial Performance - Q4 FY2025 revenue increased to $2.8 million, a 183% increase from $1.0 million in Q3 FY2025[13] - FY2025 revenue substantially increased to $4.3 million, a 1,149% increase from $0.3 million in FY2024[13] - FY2025 cash cost of goods sold increased by 483% to $10.5 million, compared to $1.8 million in FY2024, which is far below the rate of revenue growth[13] - FY2025 total operating expenses decreased 30% to $31.4 million, from $44.8 million in FY2024[13] - The company's cash balance was $25.4 million as of September 15, 2025[13] Battery Recycling Business - Q4 throughput at the first battery recycling facility increased 70% over Q3[17] - The company completed all requirements in its contract with the U S Advanced Battery Consortium (USCAR) in FY2025[17] - The company was awarded a $144 million grant from the U S DOE for the construction of a second battery recycling facility[17] Claystone to LiOH Business - The company successfully manufactured battery-grade lithium hydroxide from Nevada-based claystone at its multi-tonne per day integrated pilot facility[24] - The company completed all requirements in its $2.3 million grant award from the U S DOE for the claystone to lithium hydroxide pilot facility[25] - The company designed a commercial scale lithium refinery as part of its Tonopah Flats Lithium Project to manufacture 30,000 tonnes of lithium hydroxide per year[25] Other Highlights - The company's Tonopah Flats Lithium Project was selected as a Transparency Priority Project and a Covered Project to streamline permitting processes[28] - The company received an approved Letter of Interest from the US Export-Import Bank for a $900 million low-interest loan for the Tonopah Flats Lithium Project[28]