SEATTLE (Recycling Monster): Leading U.S. recycling company, Redwood Materials announced that it has completely taken over the German battery recycler Redux Recycling. The financial details of the transaction were not disclosed.
Redux’ Bremerhaven battery recycling plant along with 70 employees will now become part of Redwood Materials’ European team. The U.S. company, which made entry into the European market in 2022, had earlier announced plans for huge expansion, of which this acquisition forms a part. Incidentally, the Bremerhaven plant has an annual li-ion battery recycling capacity of approximately 10,000 tonnes.
The location of the acquired plant along the North Sea coast and its proximity to the port of Bremerhaven offers significant opportunities to Redwood, primarily ensuring easiness to transport, recycle and reprocess batteries. Moreover, it will further strengthen Redwood’s EU market presence and significantly boost its battery recycling capacity.
Commenting on the acquisition, Redwood Materials issued a press release, which says that Europe continues to be the world’s fastest growing EV market and that the acquisition will further support this demand. The expansion of operations will reinforce its commitments to the European market.
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