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 was set to tour Redwood's facility in Nevada with Nevada Gov. Joe Lombardo on Thursday. Redwood recently announced plans to build a new $3.5 billion battery manufacturing and recycling factory in South Carolina.