Aug 29, 2023
Redwood Materials raises over $1 billion in Series D investment round
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When it comes to renewable energy deployment, Hawaiʻi has always been a leader, energizing some of the earliest and largest solar and storage projects on earth. Now, Redwood is working with Kaua‘i Island Utility Cooperative (KIUC) to decommission its first-generation storage project at the Anahola substation, a 4.6 MWh battery storage system. While this is not the same well-known system KIUC commissioned with Tesla almost a decade ago (that one is still powering away!), it represents the opportunity for forward-thinking partnerships and stationary storage to be recycled at end-of-life.
KIUC stands apart in its approach to energy. Founded in 2002, they've been pivotal in guiding Hawaii's shift to renewables, often achieving 100% renewable power generation on sunlit days.
The Anahola Solar initiative stands as a testament to this dedication. More than just a utility-scale solar venture, it represented KIUC's foresight into the next era of energy and stationary storage. As this site reaches its end-of-life, Redwood is managing its sustainable and responsible decommissioning, transport, and recycling at our Northern Nevada facility.
The energy storage landscape has seen remarkable growth, with the United States deploying 4.8 GW last year alone. These numbers are only expected to increase every year going forward, underscoring the imperative of overseeing these systems responsibly throughout their entire lifecycle, from initial deployment to eventual decommissioning.
As we think about long-term battery circularity, stationary storage decommissioning and recycling are an integral part of our business. Our recent partnership with Southern Company and EPRI in Georgia also demonstrates our ongoing work in this growing sector. With each project, we're clearing the path for newer more efficient systems and ensuring resources are managed responsibly and effectively throughout their lifecycle.
KIUC's sustainable vision doesn't stop at energy production; their approach to energy—from installation to decommissioning—sets an example not just for Hawaiʻi, but for regions worldwide. Partnering with KIUC demonstrates our shared commitment to a sustainable energy future and we look forward to continuing to drive that vision in energy storage.