Redwood Materials gets approval for over USD105 million in US tax incentives

Circular Economy & Remanufacturing

Redwood Materials project is expected to generate over USD106 million in direct local and state tax net revenue as well as indirect tax revenue of USD77.3 million

Redwood Materials, a battery company founded by the former Tesla executive JB Straubel, has received an approval for over USD 105.6 million in US tax incentives for its battery recycling and materials processing plant in Northern Nevada, according to a news report published by Reno Gazette Journal on 1 December 2022.

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