Tesla Secretly Investing On A Recycling Company?

May 03, 2017 12:00 PM EDT | Gerone Trish

Tesla is reportedly linked to Redwood Materials. Is the company now pursuing the recycling business too?

Reports have revealed that two executives from Tesla have recently been named as directors of Redwood Materials. The two executives are Jeffrey Straubel and Andrew Stevenson. The latter is the head of special projects in Tesla, while the former is the chief technical officer.

Apparently, the names of the two Tesla executives were spotted at a filing with the U.S. Securities and Exchange Commission. The said document contains the names of Jeffrey Straubel and Andrew Stevenson as chief executives of Redwood Materials.

It also reflects that the new company was established only this year. It was also listed that the new company holds office in Redwood City, California.

Furthermore, the spied document reveals a $2 million investment has already been raised for Redwood Materials. However, the investor's name was not revealed.

The filed document was first discovered by CB Insights Cruncher, a data platform. The document spotted does not confirm any official connection with Tesla.

However, the publication has also noted a significant statement of Andrew Stevenson from its March 2017 keynote. Apparently, Tesla's head of projects has emphasized "re-thinking the materials supply chain" as one of its targets for innovation.

Meanwhile, Redwood Materials has a bare website as of press time. The site only contains a slogan "Unlock the value of your materials."

According to the website of Redwood Materials, the company is engaged in "advanced technology and process development for materials recycling, remanufacturing, and reuse."

Considering the newly established company which focuses on recycling technology, and the target of Andrew Stevenson to re-think the materials supply chain, it seems that Tesla is linked with the new company. The uto company may already be making its first step by setting up the new recycling company.

However, Tesla has not confirmed its connection with the new Redwood Materials.

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