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Rivian and Redwood Materials Announce Energy Storage Partnership for Manufacturing
Largest repurposed battery energy storage system for a U.S. automotive manufacturer to cut energy costs, support grid reliability. NORMAL, Ill.--(BUSINESS
About this update from Rivian Automotive, Inc.
[{"type":"text","content":"\nLargest repurposed battery energy storage system for a U.S. automotive manufacturer to cut energy costs, support grid reliability.\n\n\n NORMAL, Ill.--(BUSINESS WIRE)--\nAmerican automotive and technology company Rivian (NASDAQ: RIVN) and critical materials and energy technology company Redwood Materials today announced a partnership to deploy pioneering battery energy storage at Rivian’s Normal, Illinois manufacturing facility. Using more than 100 second-life Rivian battery packs, Redwood and Rivian’s solution will initially provide 10 megawatt-hours (MWh) of dispatchable energy to reduce cost and grid load during peak demand periods—saving on cost and supporting grid security and reliability.\n\n\nRivian will provide EV battery packs to Redwood, who will integrate them into a Redwood Energy system, supported by the company’s Redwood Pack Manager technology, allowing their stored energy to be used on-site by Rivian’s plant in Normal. This system is rapidly scalable and offers significant cost benefits by using safe and proven EV batteries. This approach enables faster, more flexible deployment of energy capacity directly at high-demand sites like manufacturing facilities.\n\n\nTo capture and balance the growth in peak electricity demand expected, the U.S. must deploy massive amounts of energy storage. By 2030, estimates are that over 600GWh of storage is needed to meet growing demand, stabilize peaks, and power the technology innovation of the 21st century. This represents a virtual reservoir equivalent to the total energy output of the Hoover Dam running for two months straight.\n\n\n“EVs represent a massive, distributed and highly competitive energy resource,\" said Rivian Founder and CEO RJ Scaringe. “As energy needs grow, our grid needs to be flexible, secure, and affordable. Our partnership with Redwood enables us to utilize our vehicle’s batteries beyond the life of a vehicle and contribute to grid health and American competitiveness.\"\n\n\n\"Electricity demand is accelerating faster than the grid can expand, posing a constraint on industrial growth,\" said JB Straubel, Redwood Materials Founder and CEO. \"At the same time, the massive amount of domestic battery assets already in the U.S. market represents a strategic energy resource. Our partnership with Rivian shows how EV battery packs can be turned into dispatchabl...