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Tesla Could Be Starting Up A New Recycling Company

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Tesla has a lot on their plate with production of the Model 3 coming later this year, but it looks like a few big names from the company are involved in an additional side project. In a report from CB Insights, the manufacturer is linked to a recycling company called “Redwood Materials.” While there’s no direct link, it’s assumed that both Tesla and the new company would make a great pairing.

Information in the US Securities and Exchange Commission filing includes an anonymous investment of $2 million and the company is established in Redwood City, California. The two Tesla workers tied to the other company are Jeffrey Straubel, chief technical officer, and Andrew Stevenson, president of special projects.