The Biden administration awarded a conditional $2 billion green energy loan to Nevada-based recycling venture company Redwood Materials, started by a former CTO at Tesla.
awarded a $2 billion green energy loan to a Nevada company that recycles electric vehicle batteries, according to reports.Tesla former chief technology officer
Jennifer Granholm, the energy secretary, made the announcement in Nevada at Redwood’s facility, along with Gov. Joe Lombardo."This region is leading the way to a broader story of what is happening in the country," the energy secretary said. One of the major goals of the Biden administration is for the U.S. to establish an electric vehicle supply chain of its own and getting battery recycling operations in place are expected to help move the president toward an even bigger goal of moving away from gas-powered vehicles to counter climate change. The United States would also need to substantially increase lithium mining. The US is currently home to just one lithium mine operation, in Nevada.
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