Rivian (NASDAQ: RIVN) and energy technology company Redwood Materials today announced a major expansion of their partnership, establishing Redwood as one of Rivian's key partners to enabling end-to-end energy solutions—recycling Rivian’s production scrap and end-of-life EV batteries, as well as providing stationary battery storage at its manufacturing plant in Normal, Illinois.

Through the partnership, Redwood collects Rivian EV battery packs through Rivian’s nationwide network of service centers when they are no longer suitable for in-vehicle use. Redwood then evaluates each battery pack to determine whether to repurpose it for energy storage—deployed directly at Rivian's manufacturing facilities or at other locations—or to recycle it. Redwood will now also recycle battery scrap generated at Rivian's manufacturing operations.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.