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Investing.com -- Redwood has secured $350 million in Series E funding to accelerate its energy storage business and critical materials production.
The oversubscribed funding round was led by Eclipse, with participation from new strategic investors including NVentures, NVIDIA’s venture capital arm.
The capital will support Redwood’s two integrated business lines: critical materials production (cobalt, nickel, copper, lithium, and cathode active material) and grid energy storage systems.
Redwood is developing U.S.-made energy storage systems by combining materials expertise with power electronics and software. These systems aim to be scalable and low-cost, designed to power data centers, industry, and the electrical grid, reducing dependence on imported LFP batteries.
The company highlighted that electric energy availability has become a strategic issue for AI infrastructure growth, with battery storage emerging as a scalable solution to enable AI factory deployment and unlock grid capacity.
Redwood plans to use the new funding to expand energy storage deployments, increase refining and materials production capacity, and grow its engineering and operations teams.
The company framed the investment as particularly timely, noting the overlap between curtailment in international supplies and growing domestic demand for critical materials and energy products.
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