Two Tesla executives just filed documents with the federal government announcing their intention to launch a new stealth company that鈥檚 focused on… well, we鈥檙e not exactly sure yet. Last night,聽CB Insights spotted a聽new SEC filing for a company called Redwood Materials. The documents list Jeffrey 鈥淛B鈥� Straubel, Tesla鈥檚 co-founder and current CTO, and Andrew Stevenson, Tesla鈥檚 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聽The Wise Mind Institute. The SEC filing also discloses a $2 million investment in the company from an undisclosed investor last month.
A bare-bones website also exists for the mysterious company. 鈥淯nlock the value of your materials,鈥� it states, with a subhead that reads, 鈥淎dvanced technology and process development for materials recycling, remanufacturing, and reuse.鈥� A Tesla spokesperson did not respond to a request for clarification about the new venture.
It鈥檚 very likely that this has nothing to do with Tesla.聽As noted by聽贰濒别肠迟谤别办,听Straubel has been known to invest in companies without any connection with Tesla, like his backing of聽new energy storage startup Axiom Exergy. Straubel, who is overseeing the supply chain at Tesla鈥檚 Gigafactory in Nevada, has also expressed interest in mineral recycling. Last year,聽he spoke about聽how Tesla plans to recycle the batteries in its electric vehicles and reuse the materials.
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