Why Amazon is backing this former Tesla executive’s recycling startup
by Financial Times from Ars Technica - All content on (#5889N)
Enlarge / Empty phone batteries are sorted by the company Accurec Recycling GmbH. (credit: Ina Fassbender | Getty Images)
Tesla cofounder JB Straubel has been funded by Amazon for Redwood Materials, a start-up aiming to extract lithium, cobalt and nickel from old smartphones and other electronics for reuse in new electric batteries.
Redwood is one of five companies Amazon is investing in as part of its $2 billion Climate Pledge Fund, announced this year.
Jeff Bezos, Amazon's chief executive, said in a statement that this first batch of companies were channelling their entrepreneurial energy into helping Amazon and other companies reach net zero by 2040 and keep the planet safer for future generations."
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