The final close for Redwood Materials includes continued participation from existing investors, Capricorn and Goldman Sachs Alternatives. Redwood Materials has enjoyed increased attention for its move into energy storage in response to the increased electricity demand from data centres in the USA. In the middle of 2025, Redwood entered a partnership with GM for second-life battery applications for energy storage. The company says the new capital will accelerate its energy storage platform while continuing to strengthen its integrated recycling and critical minerals business. The latter also recently saw a move forward, as it began operations at its new South Carolina campus to recover and refine key battery materials.