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tesla recycling

Tesla Executives File Documents for Materials Recycling Startup

The submitted U.S. Securities and Exchange Commission filing discloses a $2 million investment in the startup from an undisclosed investor last month.

Tesla Cofounder Jeffrey Straubel and CTO Andrew Stevenson have filed documents with the federal government for a new materials recycling startup called Redwood Materials. The submitted U.S. Securities and Exchange Commission filing discloses a $2 million investment in the startup from an undisclosed investor last month.

Tesla is releasing its earnings report today and is expected to unveil more information about its manufacturing process and forthcoming Model 3.

The Verge has more information:

Two Tesla executives just filed documents with the federal government announcing their intention to launch a new stealth company that’s focused on... well, we’re not exactly sure yet.

Last night, CB Insights spotted a new SEC filing for a company called Redwood Materials. The documents list Jeffrey “JB” Straubel, Tesla’s co-founder and current CTO, and Andrew Stevenson, Tesla’s head of special projects, as its chief executives. The company is housed in a nondescript office building in Redwood City, California, that also includes a law office, a career counseling service, and something called The Wise Mind Institute. The SEC filing also discloses a $2 million investment in the company from an undisclosed investor last month.

Read the full story here.

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