Tesla linked to investment in a supply chain firm that focuses on recycling

on May2

Elon Musk, co-founder and chief executive officer of Tesla Motors Inc.

Yuriko Nakao | Bloomberg | Getty Images

Elon Musk, co-founder and chief executive officer of Tesla Motors Inc.

Redwood Materials describes itself as making “advanced technology and process development for materials recycling, remanufacturing, and reuse”, on its website.

The SEC filing shows that the company was set up in 2017 and is based in Redwood City, California. It has raised $2 million from just one investor but the name of the backer is not disclosed.

Stevenson signed the document on April 28 after the equity was sold on April 17.

The extent of Tesla’s involvement with Redwood Materials is unclear, but if it were a partner, customer or even investor, it would certainly make sense. The company, which is run by billionaire Elon Musk, has been focused on ways to make its supply chain more efficient in order to scale and meet demand.

Tesla opened the Gigafactory earlier this year which is producing battery cells for the company’s energy storage products. At the same time, Tesla is said to be ramping up production for its Model 3 car, a vehicle that is aimed at the mainstream.

Last year, Tesla also acquired SolarCity as it continues to push its ambitions in the clean energy space.

Using a company like Redwood Materials would allow Tesla to own more of the supply chain, potentially helping to boost production, and in a more sustainable way, given that it would be recycling materials to be manufactured into different parts.

U.S. technology companies have been looking for ways to make their supply chain more responsible. Last month, Apple pledged to end its “reliance” on mining and one day make its products from only renewable resources or recycled material.

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