Redwood Materials Hires Former Tesla CFO Deepak Ahuja as CFO at $6 Billion Valuation
Updated
Updated · CNBC · May 11
Redwood Materials Hires Former Tesla CFO Deepak Ahuja as CFO at $6 Billion Valuation
5 articles · Updated · CNBC · May 11
Deepak Ahuja, Tesla’s former finance chief, joined Redwood Materials as CFO, giving JB Straubel’s battery recycling and energy-storage startup another senior Tesla alumnus.
Ahuja said his 18-year relationship with Straubel drove the move, and he pointed to Redwood’s role in keeping lithium, cobalt and nickel supply chains in the U.S.
Redwood has raised more than $2.3 billion, secured a $2 billion DOE loan commitment and expanded from battery recycling into energy-storage systems using second-life EV batteries.
The hire comes less than a month after Redwood cut about 10% of staff—135 jobs—to shift resources toward its energy division, which Straubel said is gaining momentum.
That push is tied to rising U.S. power demand from data centers and industry; Redwood recently built a 12-megawatt, 63-megawatt-hour microgrid in Texas for Crusoe.
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Overview
Redwood Materials is signaling a new phase of growth with the appointment of Deepak Ahuja, former Tesla CFO, as its new Chief Financial Officer. This strategic leadership move, led by founder JB Straubel, highlights the company’s commitment to robust financial management and scaling its operations. Ahuja’s extensive experience in innovative, fast-growing companies strengthens Redwood’s position in the battery recycling and materials industry. While the company continues to attract high-profile investors and recently secured $425 million in new funding, Ahuja has stated that it is too early to discuss an IPO, focusing instead on building a strong foundation for future expansion.