Abstract
Whilst the recent downward movement in venture capital market, venture investment in disruptive innovation technology has steadily increased. Amongst the rechargeable battery industry, in which Korean companies have secured global comparative advantages, is expected to show abnormal growth for the next several years. To pursue sustainable growth under the government’s strategic support and environmental regulations, it is necessary to establish a battery circular economy. Collecting and recycling used batteries is a key element of the battery circular economy that could stabilize supply chain and resolve the environmental issues. This case study analyzes Redwood Materials Inc., an U.S. firm specialized in battery recycling, and discuss how to estimate the firm value. Through the case analysis, we can understand the recent trends in the rechargeable battery and recycle industries in the U.S. and discuss the strategic directions of Korean battery firms. In addition, the analysis on the growth of an U.S. startup will help readers to discuss the role of venture capital in nurturing Korean startups to become global companies.
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