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Department of Energy

  • Energy Secretary Jennifer Granholm gets into the passenger seat after test driving a Ford F-150 Lighting all electric vehicle during a visit to the Washington Auto Show in Washington, Wednesday, Jan. 25, 2023. (AP Photo/Andrew Harnik)
    News
    Battery recycling firm wins $2B loan from Energy Department
    Matthew Daly/Associated Press
    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.