Redwood Materials, Inc.

This is not the first time we've talked about GM finding a second or third life for its EV batteries.

They've previously announced a partnership with Redwood Materials to deploy roughly 10,000 used EV batteries for energy storage.

And this is kind of just an extension of that because once those batteries reach the end of their usable life as a battery energy system, then they could be recycled into an EV battery again.

And then once the EV battery is degraded to a point that it's no longer really usable for a car, it becomes a battery energy

Wave, Bedrock, True Anomaly, also very cool.

And same with Redwood Materials, which is the next one I have.

And Arc, the Nuclear Company, Verkata.

You also have Andoril on there.

should be totally the opposite.

But I do want to go through some of your portfolio companies.

I think, like, let's start with Redwood Materials.

That's a really interesting story in the energy space, came from Tesla.

If you look at the overall market size for those, one of the challenges with investing in that space is it is still fairly, it's very important, but it's also still somewhat small in terms of total dollars.

And one of the ways that we're, working to mitigate that on the investing side is to look for things that are more of a platform play, right? And so, I mean, in the US there's some really larger groups at this point, like Redwood Materials, Cyclic Materials is growing quite large.

And then there's some earlier stage groups and some public companies.

that are looking at some of their waste streams and how to effectively mine those.

Something like the more futuristic stuff, like I was just in Nevada with J.B. Straubel, the Tesla co-founder.

He has a new company, Redwood Materials, that does battery recycling.

But we walked through...

Cool company.

But, yeah, I don't know.

Yeah, I think redwood materials we hear a lot about, but I just haven't seen them kind of make a business out of recycling these batteries.

We hear about them, but there's so many – know of these cars out there that are still kind of dead and they haven't really made a business of going and scooping them up and buying them out there and recycling those batteries uh and kind of making use of them and i think that has to be a big part of it um i know as um As a commercial customer, in my nine to five, one of the big challenges is the resale still.

As a commercial customer, when you go and you buy these vehicles and then you go to sell it on the secondary market, you don't get as much as you do for an F-150 or a box truck or some of these things.

I'm not sure what that does to the ability to extract other things from it.

That'd be...

I wish we could get someone from Redwood Materials on.

I don't know if we know anybody that can get them on.