Redwood has raised $350 million in its Series E funding round to speed up development in energy storage and critical materials production. The round was oversubscribed and led by Eclipse, with new investors joining in, including NVentures, the venture capital arm of NVIDIA.
The new funding will go toward Redwood’s two main business areas: refining and producing essential battery materials like cobalt, nickel, copper, lithium, and cathode active materials, as well as building large-scale grid energy storage systems.
The company is focused on creating fully U.S.-made storage systems by combining materials science with advanced power electronics and software. These systems are designed to be scalable, efficient, and low-cost, capable of powering data centers, industries, and the broader electric grid. A key goal is to reduce America’s reliance on imported lithium iron phosphate (LFP) batteries.
Redwood pointed out that reliable access to electric energy has become a major factor for AI infrastructure, as data centers and AI operations require massive and steady power supplies. Battery storage, the company said, could be the key to supporting AI-driven industries by freeing up grid capacity and enabling what it calls “AI factories.”
With the fresh capital, Redwood plans to expand its energy storage projects, ramp up refining and materials production, and grow its engineering and operations teams.
The company emphasized that the investment comes at a crucial time, with international supply chains tightening and domestic demand for critical materials and clean energy products rising fast. Redwood’s expansion, it added, could play a central role in strengthening the U.S. supply chain and meeting the growing energy needs of the digital economy.
