Redwood Materials, run by ex-Tesla CTO, raises $1 billion to expand recycling operations in U.S.

Redwood Materials, the battery and e-waste recycling startup founded by former Tesla Chief Technology Officer JB Straubel,

that it has closed a $1 billion funding round to expand operations in the U.S.

The company takes spent electric vehicle batteries, breaks them down and uses the metals from them — including nickel, copper, cobalt and lithium — to…