Financial Wire

Rivian, Redwood Materials Report Energy Storage Partnership

-- Rivian Automotive (RIVN) and Redwood Materials said Tuesday they are partnering to deploy battery energy storage at Rivian's manufacturing facility in Normal, Illinois.

They will initially provide 10 megawatt-hours of dispatchable energy to cut cost and grid load during peak demand with over 100 second-life Rivian battery packs, according to the release.

Rivian will supply EV battery packs to Redwood, who will integrate them into a Redwood Energy system, it said.

Price: $16.09, Change: $+0.19, Percent Change: +1.21%

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