The company was created earlier this year and based on the SEC filing, only two people are behind the company: JB Straubel, Tesla co-founder and current CTO at the automaker, and Andrew Stevenson, Tesla's head of special projects.
Whatever it is they're doing, the company now operates out of a regular office building in Redwood City, California, and the SEC filing shows it has $2 million in its pockets. The form reveals that the Straubel is listed as an executive and director while Stevenson signed the form on April 28 with the title of CFO of the company. The filing was first noticed by research firm CBInsights on Monday. A Tesla spokesperson didn't answer The Verge's request for clarification.
Redwood Materials has a single-page website which does not provide many details, notes Reuters. Their office is in Redwood City, California, fairly close to Tesla headquarters in Palo Alto.
It also reflects that the new company was established only this year. According to its scant website, Redwood Materials offers "advanced technology and process development for materials recycling, remanufacturing, and reuse" - and that's about all we know.
Over the past few years, Tesla has been moving beyond electric cars, and just last year, it acquired solar panel installer SolarCity. Is the company now pursuing the recycling business too? And has expressed its interest in recycling materials, has already set up a facility for the same, and wants to mine used battery packs instead of actual minerals - which are depleting quickly, putting a strain on the overall supply.
In a keynote in March, the electric-car maker listed "re-thinking the materials supply chain" as one of its focus areas.
It's unclear whether this company is actually related to Tesla. It is also ramping up production of its mass-market Model 3 vehicle.