Redwood Materials has appointed former Tesla finance chief Deepak Ahuja as its new CFO, filling a role vacant for nearly a year and a half. Ahuja will join a team of former Tesla executives, including JB Straubel, Redwood’s founder and CEO, and Colin Campbell, the CTO. Previously, Ahuja was at Zipline as chief finance and business officer. While the idea of Redwood going public has been considered, Ahuja believes it’s “too early” to discuss an IPO, as they’ve successfully raised over $2 billion from prominent investors, achieving a valuation of over $6 billion. Despite recent restructuring and a 10% workforce reduction at Redwood, Ahuja remains enthusiastic about the company’s mission in energy storage and recycling. He praised Redwood’s investors and expects new backers to be drawn to what the company is achieving. Ahuja, who is also a small investor in Redwood, views his role as a natural fit, aligning with critical needs in energy and recycling. While there’s growing interest around AI and related IPOs, Ahuja and Straubel intend to proceed cautiously, recognizing their focus on hardware provides stability amidst the current market’s hype.
Redwood Materials’ Incoming CFO Says It’s ‘Too Early’ to Discuss IPO
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