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00:02Redwood Materials hired former Tesla finance chief Deepak Ahuja as CFO as the battery recycling and
00:09energy storage company expands its energy division and EV battery operations, according to CNBC.
00:16Ahuja said his long relationship with Redwood founder and Tesla board member J.B. Straubel
00:20influenced his decision to join the company. Redwood Materials has raised more than $2.3
00:26billion in venture funding from investors, including Google, NVIDIA's Inventures, Microsoft,
00:32Omers, and Eclipse. The company also secured a $2 billion loan commitment from the Department of
00:37Energy. The company is valued at more than $6 billion and is expanding battery energy storage
00:43systems using Second Life EV batteries. Ahuja joined less than a month after Redwood cut about 10% of
00:50its workforce to refocus resources on its energy business. Redwood recently built a 12-megawatt
00:56and 63-megawatt-hour microgrid in Texas for AI infrastructure company Crusoe.
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