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The engineer who helped Elon Musk turn Tesla into a powerhouse sees a future “where every vehicle is electric” – and an unfathomably profitable market in recycling the valuable metal from all those batteries.
Four years ago Tesla’s CTO JB Straubel was ramping up battery output at its sprawling Gigafactory near Reno, Nevada when inspiration struck: Why not start a company to recover metals from the factory’s scraps and other used electronics and turn them back into usable lithium, cobalt and graphite to make new batteries. Figure out how to do that at a low enough cost and a large enough scale and you’d have a real impact, boosting the supply of rare and valuable metals while easing the environmental harm of mining and keeping toxic batteries out of landfills. Later that year, while still working at Tesla, which he cofounded with Elon Musk and three others, Straubel started Redwood Materials as a “new-generation mining company” in nearby Carson City.
Ganfeng Lithium grabs Bacanora in $246.5m deal
Operations team at the Sonora Pilot Plant. (
Shares in lithium explorer and developer Bacanora Lithium (LON:BCN) jumped as much as 38% to 61.9p on Thursday after China’s Ganfeng Lithium, one of the world’s top producers of the battery metal, offered to buy the company shares it does not already own for up to 190 million pounds ($264.5 million).
The deal, which values Bacanora at up to £267 million, comes as soaring lithium prices have triggered a wave of deals in the sector, including the recent mega-merger of Australia’s Galaxy Resources (ASX:GXY) and Orocobre (ASX:ORE).
Should We Let China Control Our Energy Supply?
“Green” energy is a terrible idea for many reasons. One of the most fundamental is that it relies on low-intensity, intermittent energy sources like wind and solar, which in practical terms are vastly inferior to fossil fuels or nuclear power, and tries to make these unreliable sources work through the magical medium of batteries.
Are there enough batteries in the world to fulfill the dreams of environmentalists? Of course not. My colleague Isaac Orr created this simple bar chart that compares the projected total battery capacity of the world as of 2030 with the 2019 electricity consumption of just one state, Minnesota:
- FinancialNewsMedia.com News Commentary PALM BEACH, Fla., May 4, 2021 /PRNewswire/ The electric vehicles (EVs) market has shown resilience and growth even during the pandemic, in fact
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Edmonton, Alberta (Newsfile Corp. - May 4, 2021) -
Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) ( Grizzly or the Company ) is pleased to announce that based upon final data provided by Geotech Ltd. for the Company s 400 line-km Versatile Time Domain Electromagnetic ( VTEM ) and magnetic survey, it has staked an additional 1,291 hectares (3,190 acres) surrounding its existing Robocop claims. The additional acreage is shown in Figure 1 below and brings the total property land holdings to 3,663 hectares (9,053 acres). The Robocop Property is 100% owned by Grizzly and is easily road accessible in Southeast British Columbia (the Property ), near the hamlets of Grasmere and Roosville.