Redwood Materials announced it has completed the final closing of its Series E financing, bringing the round’s total proceeds to $425 million as the company accelerates efforts to scale its energy storage platform and broaden its role in the domestic battery value chain.
The company said the final close includes continued participation from existing investors Capricorn and Goldman Sachs Alternatives, and adds Google as a new investor. Redwood characterized the expanded investor base as both a continuation of long-term support and an endorsement from a new strategic backer as it pushes further into energy storage.
Redwood also said the round increased from a previously announced $350 million, citing strong demand and increased confidence in its long-term strategy and execution. By upsizing financing at the final close, the company signaled that it believes the current market conditions and customer pull justify additional capital to accelerate deployment and scale.
The company said proceeds from the Series E will be used to accelerate its energy storage platform and to continue strengthening its integrated recycling and critical minerals business. Redwood framed those efforts as interconnected: scaling storage expands its footprint in power infrastructure, while recycling and critical minerals capabilities support the broader goal of building a resilient, domestic battery ecosystem.
Redwood tied the timing of the raise to a surge in electricity demand driven by AI, data centers, manufacturing, and electrification. In that environment, the company argued energy storage is shifting from a helpful tool to essential infrastructure, positioning storage as a prerequisite for a more reliable grid and a key enabler of modern power systems that must handle higher loads and more variable demand.
The company said the additional capital further positions Redwood to support grid reliability and energy security, underscoring the importance of storage in the next phase of power infrastructure modernization. Redwood’s messaging underscores a focus on scaling capacity and execution as demand intensifies, especially from large, power-hungry sectors that are expanding rapidly.
Redwood added that it plans to deploy the new capital with discipline while remaining relentlessly focused on execution. The company’s emphasis on disciplined deployment suggests a priority on scaling efficiently, building durable infrastructure, and expanding capabilities in a way that supports long-term operating performance as it grows its energy storage platform alongside its recycling and critical minerals operations.
