Deepak Ahuja's career trajectory is marked by significant achievements, most notably his two tenures as CFO at Tesla. He first joined the electric vehicle pioneer in 2008, playing a pivotal role in its successful public listing two years later. After a brief departure in 2015, he rejoined Tesla from March 2017 to March 2019, further solidifying his reputation in the automotive and tech sectors. Following his time at Tesla, Ahuja contributed his expertise to Verily Life Sciences as CFO and later to Zipline, a drone delivery enterprise, as chief business and financial officer. His decision to join Redwood Materials was significantly influenced by his long-standing professional relationship and mutual respect with JB Straubel, Redwood Materials' founder, who also has deep roots at Tesla as a co-founder and former CTO.

Redwood Materials, established in Carson City, Nevada, in 2017 by JB Straubel, specializes in transforming spent electric vehicle battery packs and manufacturing scrap into reusable materials for new battery cells. The company has strategically expanded its operations to include the development of stationary energy storage systems, which are powered by repurposed batteries from retired vehicles. This shift towards energy storage solutions, as highlighted by Ahuja, addresses a critical demand from sectors like data centers, industrial facilities, and defense installations that require robust, independent power grids amidst lagging traditional grid expansion. The company's recent milestone includes a microgrid project in Abilene, Texas, a 12-megawatt, 63-megawatt-hour installation for AI infrastructure firm Crusoe, which is touted as the largest deployment of second-life batteries globally.

Ahuja's appointment fills a CFO position that had remained vacant for over a year, following the departure of his predecessor, Jason Thompson, in December 2024. The new hire aligns with Redwood Materials' broader strategic adjustments, which recently saw approximately 135 positions eliminated—roughly ten percent of its total workforce—to streamline operations and sharpen its focus on the energy storage segment. This restructuring, coupled with Ahuja's financial acumen, is aimed at optimizing the company's growth trajectory. With over $2 billion in cumulative fundraising, including a $425 million Series E round in January that valued the company above $6 billion, and a substantial $2 billion loan commitment from the Department of Energy, Redwood Materials is well-positioned for future innovation and market leadership in the burgeoning battery recycling and energy storage industries.

Redwood Materials is poised for a new chapter with Deepak Ahuja at the financial helm, signaling a strong commitment to its strategic reorientation towards energy storage and sustainable battery solutions. Ahuja's rich experience from his time at Tesla and other innovative companies provides a solid foundation for the company's ambitious plans. His insights into the growing demand for reliable energy infrastructure underscore the market potential Redwood Materials aims to capture. The company's significant financial backing and recent operational adjustments are clear indicators of its intent to solidify its position as a leader in the circular economy for batteries, driving both environmental sustainability and technological advancement.