Redwood Materials lays off 10% in restructuring to chase energy storage business [TechCrunch]
Rivian Automotive, Inc. - Class A (RIVN)
Company Research
Source: TechCrunch
The cuts come just five months after Redwood , and three months after it closed a $425 million funding round that boosted the battery recycling company's valuation to north of $6 billion, as TechCrunch It's been a difficult time in the battery industry lately. Earlier this month, battery recycler Ascend Elements filed , citing “insurmountable” financial challenges. Some battery-makers have also restructured or gone out of business as the automotive industry in the U.S. has backed away from its most optimistic and ambitious plans to transition to electric vehicles. But Redwood Materials founder and CEO JB Straubel told employees that this new round of cuts is not a sign that the company is heading down the same path. “Redwood today is the strongest it's ever been,” Straubel wrote in an email to the workers who weren't laid off, according to a copy viewed by TechCrunch. “The materials business is well on its way to profitability and has an exciting roadmap ahead.” Straubel note
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RIVN
Earnings
- 2/12/26 - Miss
RIVN
Sec Filings
- 4/16/26 - Form 4
- 4/14/26 - Form 144
- 4/2/26 - Form 4
- RIVN's page on the SEC website