$3.5 billion investment, largest in state history, announced with Redwood Materials expansion
Governor Henry McMaster announced the largest economic development in state history with the expansion of Redwood Materials in Berkeley County, a $3.5 billion investment.
COLUMBIA, S.C. (WOLO)— Governor Henry McMaster announced the largest economic development in state history with the expansion of Redwood Materials in Berkeley County, a $3.5 billion investment. The expansion will create 1,500 new jobs.
The company is a producer of anode and cathode battery components for electric vehicles and recovers more than 95% of minerals and elements like nickel, cobalt, lithium, and copper from batteries and reintroduces them into the supply chain through the battery components it creates for U.S. battery manufacturers, say officials.
In a release provided to ABC Columbia News, Gov. Henry McMaster says, “Redwood Materials’ record-breaking announcement shows that our state’s strategic plan to remain a top destination for automobile manufacturers and their suppliers as the industry innovates is working. This $3.5 billion investment, and the 1,500 jobs it will create in Berkeley County, is a transformative accomplishment that can only be attributed to the strong, talented, hardworking South Carolinians who make our state as great as it is.”
Founded by Tesla’s former Chief Technology Officer and Co-Founder JB Straubel, Redwood Materials works with multiple partners including Volvo, Volkswagen, Audi, and more to reclaim and recycle end-of-life batteries and unusable production material to produce battery components.
Nearly 100% of the materials required for electric vehicle batteries are currently manufactured overseas, says officials.
Operations at the 600-acre campus at Camp Hall Commerce Park in Ridgeville are expected to begin in 2023.
Individuals interested in working for Redwood Materials may apply by visiting the company’s website.