Nevada battery recycler wins $2B loan from Energy Department

Published February 9, 2023 3:45 PM

By MATTHEW DALY and GABE STERN
Associated Press

MCCARRAN, Nev. (AP) — A Nevada company that recycles batteries for electric vehicles has won a $2 billion green energy loan from the Biden administration. Redwood Materials, a recycling venture founded by the former chief technology officer at Tesla, secured a conditional loan from the Energy Department’s Advanced Technology Vehicles Manufacturing program, which helped Tesla more than a decade ago. Energy Secretary Jennifer Granholm toured Redwood’s facility in Nevada with Nevada Gov. Joe Lombardo on Thursday.

Article Topic Follows: AP National News

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