Redwood Materials Restructures, COO Departs Amid Layoffs

Redwood Materials is undergoing a significant restructuring, marked by the departure of its Chief Operating Officer, Chris Lister, who is retiring. This executive change follows recent layoffs affecting approximately 10% of the company's workforce. CEO JB Straubel cited the need to reduce management layers and focus the team to support the growing energy storage business. The company aims to become a leader in critical materials and energy storage, having secured deals with Rivian and Crusoe for battery recycling and grid storage solutions.