Redwood Materials
Auto Added by WPeMatico
Growth is not enough
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
We were a smaller team this week, with Natasha and Alex joined by Grace and Chris to sort through a week that brought together both this quarter’s earnings cycle and the Q3 IPO rush. So, it was just a little busy!
Before we get to topics, however, a note that we are having a lot of fun recording these live on Twitter Spaces. We’ve found a hacky way to capture local audio and also share the chats live. So, hit us up on Twitter so you can hang out with us. It’s fun — and we may even bring you up on stage to play guest host.
OK, now, to the Great List of Subjects:
- Robinhood went public! Yep, at long last, it is done. The company priced at $38 per share, the low end of its range, and had a medium-weak day of trading once it started to float. In short, Robinhood seems to have deftly priced its IPO, leaving zero fat on the table. It’s now public and richer than ever. More here.
- Earnings! We took a moment to chat about earnings reports from Alphabet, Microsoft and Shopify. Why? Because we care lots about the cloud and platform companies. So, we took a minute to discuss public cloud results and what Shopify got up to.
- Batteries! Tesla is moving toward iron-based batteries and is looking to source other materials direct. At the same time, battery recycling is raising lots of cash and Nikola is not dead. We call it two truths and a lie.
- Unicorns and soon-to-be’s: Contentful raised $175M at a $3B valuation from Tiger for its content delivery service; Squire, a barbershop tech platform, tripled its valuation (again) with Tiger Global (again); and Class squashed acquisition rumors with SoftBank Vision Fund II funding,
- More venture rounds! To cap off our venture roundup, two neat healthtech investments stood out, namely rounds from Oova and Peppy. Both startups agree with the idea that hormonal health is a massive yet nascent opportunity. (We did an entire show about the imbalanced world of hormone startups if you’re interested).
- We ended on a musical note, which, luckily for you all, didn’t include us singing: Meet a quartet of early-stage music startups.
Equity drops every Monday at 7:00 a.m. PDT, Wednesday, and Friday morning at 7:00 a.m. PDT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.
Powered by WPeMatico
Recycling startup Redwood Materials is partnering with Proterra to supply EV battery materials sustainably
A growing number of companies have emerged over the last few years determined to reduce waste in the electric vehicle battery market. Chief among these is recycling firm Redwood Materials, which has quickly expanded since its launch in 2017 by Tesla co-founder JB Straubel to become the largest lithium-ion battery recycler in North America. Now the firm is teaming up with electric commercial vehicle manufacturer Proterra in a deal that may help boost the domestic battery supply chain.
This is the first publicly announced partnership between Redwood and an automaker.
Under the agreement, all Proterra batteries will be sent to Redwood’s facilities for recycling in Carson City, Nevada. The two companies entered the agreement in January, but have been in discussion since last summer, when Proterra reached out to learn more about Redwood’s recycling process. That led to a trip out to Redwood’s facilities in Nevada to see if the recycler could process Proterra battery packs.
“That went really well,” Proterra CTO Dustin Grace told TechCrunch. Grace worked for Straubel for around nine years at Tesla. “We were super excited to see their operation. From there, we started work on our master supply agreement.”
Proterra has sent around 26,000 pounds of battery material to Nevada for recycling since entering the partnership, though this does not represent the pace of future deliveries. Overall, Redwood receives 60 tons per day, or 20,000 tons of batteries per year.
The batteries that power Proterra’s fleets are designed to last the lifespan of the vehicle, but the company offers a battery leasing program that guarantees replacement after six years — which means plenty of useful life will remain in the battery, as much as 80-90% charging capacity. To exploit the remainder of this capacity, Proterra has plans to reuse the batteries in second-life applications — such as in stationary storage systems hooked up to Proterra charging hardware — before they head to Nevada.
“First the grading of the battery will occur at Proterra by our remanufacturing engineering team. If the battery is deemed ready for second-life, it will go into one of those applications; if it’s not, it gets recycled,” Grace said.
Only once all this useful life is exhausted will the batteries be sent to Redwood, where the waste will be reprocessed into valuable raw material. And with the transit EV market poised to reach 50% of all annual sales by 2025, there will be plenty of batteries that will need reprocessing.
The news comes just weeks after Redwood announced it was teaming up with e-bike manufacturer Specialized to recycle its batteries. Redwood already has arrangements to process scrap from Panasonic’s battery cell production at the Nevada Tesla Gigafactory, and with Amazon to recycle EV batteries and other waste. Through these business-to-business partnerships Redwood aims to develop a circular battery supply chain, supplying the raw materials back to the manufacturer. The company also accepts electronics and batteries from everyday consumers, which can be mailed to Redwood via a mailing address posted on its website.
The partnership is a sign that both companies are thinking large-scale and long-term. A spokesperson for Redwood said in a statement to TechCrunch that the recycler is focused on “developing the solution for a fully closed-loop recycling for EV batteries.” That means finding truly sustainable, long-term sources of materials like cobalt, lithium and copper to eventually move beyond terrestrial mining. And Straubel has been vocal in the past about his ambition to grow Redwood into one of the world’s largest battery materials companies.
As more battery-grade raw materials become available in the United States, Proterra sees an opportunity to eventually expand into domestic battery-cell manufacturing.
“It’s still early days but we’re trying to set ourselves up for the future state of this market at scale. That’s really the primary benefit of this partnership existing today,” Grace said. “The way we see it, domestic cell production for Proterra is a very, very important part of our roadmap here in the coming years. The idea of generating more battery-grade raw materials on North American soil directly supports the expansion of that battery manufacturing concept within the U.S. So I think this starting now absolutely aids our plans for domestic cell manufacturing in the near future.”
Powered by WPeMatico
Announcing the final agenda for TC Sessions: Mobility 2020
TC Sessions: Mobility is back and we’re excited to give the final look of what and who is coming to the main stage.
Before we get into who is coming, let’s tackle one important change from our 2019 inaugural event: this year, TC Sessions: Mobility will be virtual. Never fear, the virtual version of TC Sessions: Mobility will bring all of what you’d expect from our in-person events, from the informative panels and provocative one-on-one interviews to the networking and this year, even a pitch-off session.
While virtual isn’t the same as our events in the past, it has provided one massive benefit: democratizing access. If you’re a startup or investor based in Europe, Asia, Africa, Australia, South America or another region in the U.S., you can listen in, network and connect with other participants here in Silicon Valley. Plus, you’ll be able to meet all of the attendees through our matchmaking platform, CrunchMatch.
This year, we’re also holding a pitch-off competition for early-stage mobility companies, but you’ll need to make sure you have your ticket to join us at the event online. Prices start at just $25 for an Expo Ticket and only $195 for a General Admission Ticket to experience the whole event. We also offer a $50 tickets for students.
TechCrunch reporters and editors will interview some of the top leaders in transportation to tackle topics such as scaling up an electric vehicle company, the future of automated vehicle technology, micromobility, building an AV startup and investing in the industry. Our guests include Argo AI co-founder and CEO Bryan Salesky, Waymo COO Tekedra Mawakana, Lucid Motors CEO and CTO Peter Rawlinson, Ike Robotics co-founder and chief engineer Nancy Sun, Formula E race car driver Lucas di Grassi, Cruise’s director of global government affairs Prashanthi Raman, Hemi Ventures managing partner Amy Gu, Polestar CEO Thomas Ingenlath as well as TuSimple co-founder and CTO Xiaodi Hou and Boris Sofman, former Anki Robotics founder and CEO who now leads Waymo’s trucking unit.
Don’t forget that General Admission tickets (including $50 savings) are currently available for a limited time; grab your tickets here before prices increase.
AGENDA
Tuesday, October 6
Taking AVs to the Next Level Tekedra Mawakana (Waymo)
Waymo Chief Operating Officer Tekedra Mawakana is at the center of Waymo’s future, from scaling the autonomous vehicle company’s commercial deployment and directing fleet operations to developing the company’s business path. Tekedra will speak about what lies ahead as Waymo drives forward with its plan to become a grownup business.
The Changing Face of Delivery with Matthew Johnson-Roberson (Refraction AI), Ali Kashani (Postmates), and speaker to be confirmed.
Small startups and logistics giants alike are working on how to use automated vehicle technology and robotics for delivery. Matthew Johnson-Roberson, co-founder of Refraction AI and Ali Kashani, the VP of special projects at Postmates will talk about the challenges and opportunities of using robots for delivery.
Investing in Mobility with Reilly Brennan (Trucks VC), Amy Gu (Hemi Ventures), and Olaf Sakkers (Maniv Mobility)
Reilly Brennan, Amy Gu and Olaf Sakkers will come together to debate the uncertain future of mobility tech and whether VC dollars are enough to push the industry forward.
Networking Break
With our virtual platform, attendees can network via video chat, giving folks the chance to make meaningful connections. CrunchMatch, our algorithmic matching product, will be available to ensure you’re meeting the right people at the show, as well as random matching for attendees who are feeling more adventurous.
Setting the Record Straight with Bryan Salesky (Argo AI)
Argo AI has gone from unknown startup to a company providing the autonomous vehicle technology to Ford and VW — not to mention billions in investment from the two global automakers. Co-founder and CEO Bryan Salesky will talk about the company’s journey, what’s next and what it really takes to commercialize autonomous vehicle technology.
The Next Opportunities in Micromobility with Danielle Harris (Elemental Excelerator), Dmitry Shevelenko (Tortoise), Avra van der Zee (Superpedestrian)
Worldwide, numerous companies are operating shared micromobility services — so many that the industry is well into a consolidation phase. Despite the over-saturation of the market, there are still opportunities for new players. Danielle Harris, director of mobility innovation at Elemental Excelerator, Dmitry Shevelenko, founder at Tortoise will discuss, and VP of Strategy and Policy at Superpedestrian.
Building an AV Startup with Nancy Sun (Ike)
Ike co-founder and chief engineer Nancy Sun will share her experiences in the world of automation and robotics, a ride that has taken her from Apple to Otto and Uber before she set off to start a self-driving truck company. Sun will discuss what the future holds for trucking and the challenges and the secrets behind building a successful mobility startup.
Uber’s City Footprint with Shin-pei Tsay (Uber)
Uber’s operations touch upon many aspects of the transportation ecosystem. Whether its autonomous vehicles, food delivery, trucking or traditional ride-hailing, these products and services all require Uber to interact with cities and ensure the company is on the good side of cities. That’s where Shin-pei Tsay comes in. Hear from Tsay about how she thinks through Uber’s place in cities and how she navigates various regulatory frameworks.
The Road to the All-Electric Air with Peter Rawlinson (Lucid Motors)
Just weeks after Lucid Motors unveils its long-anticipated all-electric luxury Air sedan, we’ll sit down with Peter Rawlinson to discuss the challenges of building a car company and assembling that first production vehicle as well as plans for the future.
Wednesday, October 7
The Future of Racing with Lucas Di Grassi (Audi Sport)
Formula E driver Lucas Di Grassi is part of a new racing series, in which riders on high-speed electric scooters compete against each other on temporary circuits in cities. Think Formula E, but with electric scooters. The former CEO of Roborace and sustainability ambassador of the EsC, Electric Scooter Championship, will join us to talk about electrification, micromobility and a new kind of motorsport.
The Future of Trucking with Xiaodi Hou (TuSimple) and Boris Sofman (Waymo)
TuSimple co-founder and CTO Xiaodi Hou and Boris Sofman, former Anki Robotics founder and CEO who now leads Waymo’s trucking unit, will discuss the business and the technical challenges of autonomous trucking.
The Electrification of Porsche with Detlev von Platen (Porsche AG)
Porsche has undergone a major transformation in the past several years, investing billions into an electric vehicle program and launching the Taycan, its first all-electric vehicle. Now, Porsche is ramping up for more. Porsche AG’s Detlev von Platen, who is a member of the company’s executive board, will talk about Porsche’s path, competition and where it’s headed next.
Navigating Self-Driving Car Regulations with David Estrada (Nuro), Melissa Froelich (Aurora) and Jody Kelman (Lyft), Prashanthi Raman (Cruise)
Autonomous vehicle developers face a patchwork of local, state and federal regulations. Government policy experts, from Nuro, Aurora, Lyft and Cruise, discuss the progress that’s been made, the challenges that remain and how startups can navigate the jumble of regulations and deploy their autonomous vehicle technology at scale.
Future of Cities: Delivery Takes Flight with Margaret Nagle (Wing)
Margaret Nagle, head of policy and public affairs at Wing, will talk about how drones used for delivery could reshape cities and improve accessibility.
Delivering and Building EVs with Thomas Ingenlath (Polestar)
Polestar is less than four years old and already has two vehicles on the market and more on the way. In this fireside chat with CEO Thomas Ingenlath, we’ll discuss the company’s focus, strategy and sleek design.
Scooting Through the World’s Regulatory Frameworks with Tony Adesina (Gura Ride), Fredrik Hjelm (VOI Technology), and Euwyn Poon (Spin)
Although dockless scooters first hit the streets of the U.S., there’s plenty of scooter activity going on abroad. And thanks to different regulatory landscapes and players, the state of scooters looks different depending on where you are. Scooters have taken off in Europe, with a number of players operating across the continent, as well as in South America. Now, shared scooters and ebikes are popping up in Africa. Hear from Spin CEO Euwyn Poon about bringing his U.S.-centric company abroad, VOI co-founder Fredrik Hjelm about the state of scooters in Europe and Tony Adesina, the founder and CEO of micromobility startup Gura Ride about opportunities and challenges in Africa.
Startup Pitch-Off
Select, early-stage companies, hand-picked by TechCrunch editors, will take the stage and have five minutes to present their companies.
Life After Tesla with JB Straubel (Redwood Materials)
JB Straubel might be best known as Tesla’s co-founder and former CTO who was responsible for some of the company’s most important technology, notably around batteries. But Straubel is hardly finished. He launched his own recycling startup called Redwood Materials that is focused on creating a circular supply chain and recently named Amazon and Panasonic as customers. We’ll sit down with Straubel to talk about his latest venture, time at Tesla and of course, battery technology and the state of the electric vehicles.
Building Better Battery Tech with Celina Mikolajczak (Panasonic) and JB Straubel (Redwood Materials)
Celina Mikolajczak, vice president of battery technology for Panasonic Energy of North America, and JB Straubel, co-founder and CEO of Redwood Materials, will dig into the state of battery tech, what it will take to meet growing demand while minimizing the environmental impact, and how their respective companies are working together.
Powered by WPeMatico