ERI Announced New Partnership to Recycle Batteries and Solar Panels

SEATTLE (Scrap Monster): ITAD and electronics recycling major ERI announced that it has partnered with Carson City, Nevada-based Redwood Materials to promote recycling of batteries as well as solar panels. Further to this, JB Straubel, Redwood's co-founder and CEO has joined ERI’s board.

According to the partnership deal, Redwood is believed to have made a significant strategic investment in ERI. However, the size of its stake in ERI was not disclosed. Redwood will have access to ERI’s original equipment manufacturer (OEM) partners. Initially, nearly 30 tons of lithium-ion batteries collected by ERI will be sent to Redwood per week. This volume will see significant growth over time.

Commenting on the development, John Shegerian, co-founder and chief executive of ERI noted that Redwood Materials is the third strategic downstream partner to help its drive to expand recycling capabilities.

It must be noted that the company had earlier partnered with LS Nikko Copper and Alcoa. LS Nikko Copper-one of the world’s leading copper smelters had made a minority investment in ERI, which was followed by subsequent investment in 2010. Alcoa- the Pittsburgh-based aluminium producer had acquired 10% stake in ERI in 2011.

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