US battery recycler and remanufacturer Redwood Materials announced last week that it had secured an extra $1 billion in funding to progress its operations in the US. This comes on top of the $1 billion it had already raised through previous funding rounds and after receiving a $2 billion conditional loan from the Department of Energy to fund a majority of the construction of its Nevada facilities. That’s a total of $4 billion going towards a private battery recycling startup, few other battery recycling companies can even come close to this kind of valuation, especially not private companies though its CEO did indicate a timeline of going public within 3-5 years back in 2021. Most of the hype around this…