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Mortgage Broker in Ridgeville, SC

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Classic Home Mortgage Providing Trustworthy Mortgage Guidance for Over 30 Years

Buying a home is one of the most significant investments that you will ever make. Like most good things, finding the perfect home comes with a lot of work. From your initial search online to your home tour and finally closing, there are many difficult decisions to make along the way. The bottom line is that the entire home buying process can be very stressful, especially when it comes to finding the right mortgage broker and loan for your new home. Since market conditions and mortgage programs change frequently, you have a lot riding on your broker's ability to provide quick and accurate financial advice. Whether you're a first-time homebuyer or own several residential properties, you need a mortgage broker in Ridgeville, SC, who can educate you on mortgage rates and provide trustworthy guidance to help you make an informed decision.

My name is Dan Crance - Ridgeville's most trusted mortgage loan officer with more than 30 years in the mortgage industry. I bring unparalleled insight and decades of experience into your home loan process. If you're looking for a new home loan, are interested in refinancing your current mortgage, or need information regarding FHA, VA, or other types of loans, Dan Crance is Your Mortgage Man.

Unlike some mortgage loan officers in Ridgeville, my primary goal is to help you make the right mortgage choice for you and your family. Mortgage lenders have a horrible reputation for turning over clients quickly to expedite cash flow and make the most money possible. While some mortgage brokers come off as pushy and impatient, I encourage my clients to take as much time as they need to ask questions and review their mortgage agreements. I'm here to help answer those questions and provide you with easy-to-understand advice so that you can rest easy knowing you made the right choice. I could say that I strive to provide service that exceeds your expectations, but I'd rather show you. In the end, I want you to leave feeling confident in the loan you've selected, as well as in your choice of broker.

Service Areas
Mortgage Broker Ridgeville, SC
 Refinance Ridgeville, SC

Why Choose Dan Crance As Your Mortgage Lender in Ridgeville, SC?

Clients choose my mortgage company because I truly care about helping them navigate the often-confusing landscape of the mortgage process. I am fiercely dedicated to my clients and make every effort to provide them with trustworthy advice and an open line of communication.

In my business, I work for two different customers. On one hand, I have the buyer: the person entrusting me with the responsibility of guiding them through one of the most important decisions ever. Serving homebuyers is not a task that I take lightly. I work with them daily to help them through the process and provide timely updates and news on their mortgage status. On the other hand, I have the realtor: the person who works with my client to find their dream home. Since their commission is in my hands, working with realtors is also a very important task. I update these agents on the status of their customers weekly. Only when I take care of both parties can I say my job as a mortgage loan officer is complete.

As a mortgage broker with more than 30 years of experience, I pledge to give you the highest level of customer service while providing you with the most competitive loan products available. That way, you can buy the home of your dreams without second-guessing your decision.

 Conventional Mortgage Ridgeville, SC

Home Financing in Ridgeville, SC

At Classic Home Mortgage, our team works diligently to close on time without stress or hassle. Whether you're a seasoned homeowner or are buying your new home in Ridgeville, we understand how much stress is involved. Our goal is to help take that stress off of your plate by walking you through every step of the home loan process. Because every one of our clients is different, we examine each loan with fresh eyes and a personalized approach, to find you the options and programs you need.

With over 30 years as a mortgage professional in Ridgeville, Dan Crance will help you choose the home loan, interest rate, term options, and payment plans that fit your unique situation.

 FHA Mortgages Ridgeville, SC

When you work with Classic Home Mortgage, you can always count on our team to:

  • Put your needs first.
  • Work efficiently and quickly. Many of our home loans close in 30 days or less.
  • Offer you a variety of home loans to choose from, and help you make an informed decision.
  • Provide you with competitive rates that make sense for your budget and lifestyle.

While no two loan terms are the same, a few of the most common loan types include:

30-Year Loan - This loan is often considered the most secure option to choose. With a 30-year loan, you can lock in a low payment amount and rest easy knowing your rate won't change.

FHA Loan - If you're not able to make a large down payment, an FHA loan could be the right choice for you. With an FHA loan, many of our clients have successfully purchased a home with less than 4% down.

VA Loan - This loan is reserved for military veterans and active-duty men and women. Those who qualify may be able to purchase a home with no down payment and no Private Mortgage Insurance (PMI).

Choosing a home loan is an important step in the home buying process. At Classic Home Mortgage, we are here to make choosing a loan as easy as possible, so you can focus on the joys of being a homeowner. Contact our team of experts today and ask how you can get pre-qualified for your home loan in Ridgeville, SC.

Refinancing in
Ridgeville, SC

Because home mortgage rates in the U.S. have been so low over the last year, many current homeowners are opting to refinance their home loans. Simply put, refinancing is replacing your existing mortgage with a different mortgage under new terms. Homeowners who refinance their homes enjoy lower interest rates, lower monthly payments, and even turn their home's equity into cash. If you're interested in refinancing your home, it all begins with a call to your mortgage broker in Ridgeville, SC - Dan Crance.

Here are just a few reasons why more homeowners in the U.S. are taking advantage of lower rates and refinancing their homes:
 Home Ready Mortgages Ridgeville, SC
Shorter Term Loan

Shorter Term Loan

Refinancing from a 30-year to a 15-year mortgage might seem counterproductive on the surface because your monthly payment usually goes up. However, interest rates on 15-year mortgages are lower. And when you shave off years of your previous mortgage, you will pay less interest over time. These savings can be very beneficial if you are not taking the mortgage interest deduction on your tax returns.

Do Away with FHA

Do Away with FHA

FHA loans are notorious for paying premiums for the life of the loan. Mortgage insurance premiums for FHA loans can cost borrowers as much as $1,050 a year for every $100k borrowed. The only way to get rid of mortgage insurance premiums is to refinance to a new loan that the Federal Housing Authority does not back.

Switch to Fixed Rate or Adjustable-Rate Home Loan

Switch to Fixed Rate or Adjustable-Rate Home Loan

Sometimes, borrowers with adjustable-rate mortgages refinance so they can switch to a fixed rate, which lets them lock in an interest rate. Doing so is beneficial for some homeowners who like to know exactly how much their monthly payment is each month. Conversely, some homeowners with fixed rates prefer to refinance to an adjustable-rate mortgage. Homeowners often go this route if they plan on selling in a few years and don't mind risking a higher rate if their plans fall through.

 Mortgage Banker Ridgeville, SC

Common Questions About Home Loans

Finding the right loan can be a difficult proposition, even if you have been through the process before. This is especially true since mortgage rates and market conditions change frequently. If you're like most of my clients, you probably have questions about interest rates, refinancing options, and a litany of other topics. To help alleviate some of your stress, here are just a few common questions with answers so that you can better educate yourself as we work our way to securing your loan.

Generally speaking, you should consider refinancing when mortgage rates are 2% lower than the current rate on your home loan. For some homeowners, refinancing makes sense when there is only a 1% difference. Reducing your mortgage rate is a great way to save money or apply your savings to a home upgrade. The money you save on your refinanced loan depends on your loan amount, budget, income, and charges from interest rates. It's crucial that you work with a trusted mortgage loan officer in Ridgeville, SC, to help calculate your refinancing options.
This is one of our most frequently asked questions at Classic Home Mortgage. In simple terms, points let you make a tradeoff between the upfront costs of your loan and your monthly payment amount. Points are essentially costs that you have to pay to your mortgage lender to get financing under specific terms. A point is defined as a percentage on your loan amount. 1-point is equal to 1% of the loan. So, 1 point on a loan worth $100,000 is equivalent to $1,000. When you pay some of the interest on your home loan upfront, you use discount points to lower your interest rate.
If you plan to live in the property for a few years, it makes a lot of sense to pay points to lower your interest rate. Doing so will help lower your monthly loan payment, which you can use to save money. Paying points may also increase the amount of money that you can borrow. If you do not plan on living in the property for at least a few years, this strategy might not make financial sense because you might not be able to make up the amount of the discount points you paid up-front.
In short, yes, your mortgage lender will need to know your credit score. Credit scoring is a system that creditors use to decide whether they will give you credit. Your credit score helps creditors decide how creditworthy you are or how likely you will repay your loan. In most circumstances, creditors will use your FICO scores during the loan process. Your score will fall between high risk (350) and low risk (850). Your credit score plays a big role in the loan process, and as such, your score must be accurate before submitting a credit report when applying for a loan.
The answer to this question depends on how money you choose to put as a down payment on your home. On a conventional loan, if your down payment is less than 20% of the price of your home, your mortgage broker in Ridgeville may require you to get Private Mortgage Insurance or PMI for short. This insurance protects your lender in the event you default on your mortgage. The best way to avoid paying for this insurance is to make a down payment of 20% or more of the purchase price of your home.
 Mortgage Company Ridgeville, SC

Trust Dan Crance

Your Mortgage Lender in Ridgeville, SC

Whether you're selling, buying, refinancing, or building the home of your dreams, you have a lot riding on your home loan specialist. When you need a mortgage broker who works tirelessly for you, answers your questions, provides guidance, and does so with a genuine smile, Dan Crance is your mortgage man. Contact Dan today at 843-478-5612 to get pre-approved and discover why Ridgeville loves Classic Home Mortgage.

After hours by appointment only. CONTACT DAN

Latest News in Ridgeville, SC

Volvo looks to add 1,300 jobs for fully electric SUV to be built in Ridgeville

More details were revealed Wednesday about Volvo’s fully electric SUV that will be built in Ridgeville – and the massive effort it will take to roll them off the assembly line.The Volvo EX90 made its debut in November as the Swedish car company’s new fully electric vehicle.David Stenström, Volvo Cars USA VP manufacturing Americas, said at the 12th annual South Carolina Manufacturers Alliance Auto...

More details were revealed Wednesday about Volvo’s fully electric SUV that will be built in Ridgeville – and the massive effort it will take to roll them off the assembly line.

The Volvo EX90 made its debut in November as the Swedish car company’s new fully electric vehicle.

David Stenström, Volvo Cars USA VP manufacturing Americas, said at the 12th annual South Carolina Manufacturers Alliance Automotive Summit on Wednesday that it will feature recycled plastics for the interior, which will be all animal/leather-free, among many other top-of-the-line and sustainable features.

He said it’s been a big challenge, but they are confident in overcoming those challenges.

The biggest of those challenges being:

Fifty percent more machines will need to be installed ahead of building the EX90s at Volvo’s Ridgeville plant — in addition to 1,300 new team members to be hired for its launch. The new employees will need to undergo eight weeks of training.

It takes seven years to design, build and then launch a new vehicle, said Stenström.

“The competition will be brutal for Volvo,” said Stenström. “If you’re not out there being the first, you probably will not survive (in this industry). But there is nothing hindering us from expanding what we have today and with the right people there is nothing we can’t do.”

Volvo CEO Jim Rowan said the EX90 ushers in a new era for safety for Volvo drivers and passengers.

“Born electric, born with lidar. The start of a new era of electrification, technology and safety,” Rowan said in a video presentation at the end of September. All Volvo EX90s will come with a combination of the latest technology powered by an understanding of the car’s outside environment and the person driving the vehicle, the company said.

Greenville and Spartanburg County Councils approved Volvo Cars USA’s fee-in-lieu-of-tax agreements in October. The FILOT applies to specific sites occupied by parts makers in the Upstate to prepare the company’s Ridgeville plant for building the electric SUVs.

Stenström said by 2025, they plan for a zero-carbon neutral site, in addition to these other mid-decade business ambitions:

Long-term Volvo ambitions include climate neutral company by 2040, pure electric car company by 2030, circular business by 2040, and recognized leader in responsible business. Currently, 90% of the EX90’s build is localized.

“South Carolina is blessed to have Volvo Cars here, and we can’t wait to see what the future holds as Volvo continues to innovate and grow here,” said Sara Hazzard, president and CEO of the South Carolina Manufacturers Alliance.

Redwood Materials visits SC — the latest on its $3.5B Berkeley County project

By Christmas, Redwood Materials, a producer and recycler of anode and cathode battery components for electric vehicles, expects to be operating out of its 600-acre site at Camp Hall Commerce Park in Ridgeville.“We are very much ‘building the plane as we fly it,’ which means building smaller buildings, getting production up and going while we're building other multimillion square foot (sized) facilities so we can scale and grow into those,” said Alexis Georgeson, vice president of communications and government r...

By Christmas, Redwood Materials, a producer and recycler of anode and cathode battery components for electric vehicles, expects to be operating out of its 600-acre site at Camp Hall Commerce Park in Ridgeville.

“We are very much ‘building the plane as we fly it,’ which means building smaller buildings, getting production up and going while we're building other multimillion square foot (sized) facilities so we can scale and grow into those,” said Alexis Georgeson, vice president of communications and government relations for Redwood Materials at a Feb. 15 breakfast hosted by the Berkeley County Chamber of Commerce.

In late 2022, Nevada-based Redwood Materials — founded by Tesla co-founder JB Straubel —announced its $3.5 billion investment to establish operations in Berkeley County, marking the largest economic development announcement in the history of South Carolina. The company expects to create 1,500 new jobs over the next 10 years.

“Research and development a big part of our focus and there will be a lot of that happening at the Berkeley campus. We hope to be working very closely with ReadySC on a lot of worker training,” Georgeson told a packed house at the South Carolina Aeronautical Training Center at Trident Technical College.

Redwood Materials, created in 2017, is the first company in the world that recycles used electric vehicle batteries and other types of batteries to extract crucial components that can then be sent to car manufacturers to be put into new electric vehicle batteries. Currently, those components exclusively come from Asia.

“Our business model is a little bit different than some other battery recyclers (in that) they're not going further downstream and doing the refining. Unless you're going further into the refining process, you're actually having to export the material and relying on another country to refine it for you,” Georgeson said. “We feel the pressure every single day to get up and going as quickly as possible and be able to feed (automakers) these components domestically. They don't have any plans other than to send $150 billion overseas to Asia right now to source these components.”

Redwood Materials works with auto dismantlers to source used and end-of-life electric vehicle batteries, either when a car reaches the end of its life or was crashed and no longer drivable, Georgeson said.

“Until now, (dismantlers) haven't had a downstream plan for these batteries. They've pretty much been just storing them and waiting for someone like Redwood to come along and take these batteries off their hands,” Georgeson said. “We go into the field, we send our own fleet of trucks and collect these thousand-pound batteries safely, package them and transport them.”

One of Redwood Materials’ largest customers is Panasonic, which manufactures Tesla electric vehicles at Tesla’s gigafactory. Panasonic will be sourcing both anode and cathode battery components from Redwood.

“The beauty of these (components) is that they can be infinitely recycled,” Georgeson said. “At a certain point where our population starts (swapping) an internal combustion engine for an electric vehicle — and if you believe that at some point, we will all be driving electric vehicles — we can hit a plateau where we’re recycling one vehicle to create a new vehicle and we’re no longer having to mine these materials (from the Earth). That's really a future that we firmly believe is not too far off.”

Georgeson said Redwood Materials is continuously looking to streamline operations and open up new recycling avenues and opportunities—including a direct consumer recycling program for household electronics.

“We send graphite recovered in our mining process downstream for industrial lubrication. We’ve got gypsum as part of our downstream product and we send that to drywall manufacturers,” Georgeson said. “Everything that's recovered in the process is reused or sent to another partner that needs it in their process. In terms of rail and trucking, we anticipate using rail very heavily on the (Camp Hall) site.”

Since recycling is the hallmark of the company, the Berkeley County facility will use renewable energy to power its operations and water used in its hydro operations will be continuously recycled.

“Our facility in Nevada, as well as the one in Berkeley County, will use one hundred percent renewable energy and have no wastewater,” Georgeson said. “Our Nevada facility took twelve months from breaking ground to products coming out of the facility. We move fast. The ability to get going on the Camp Hall site very quickly was a critical factor for us, as well as being located in a great central downtown where we knew we'd be able to recruit and retain talent.”

Volvo's 2024 EX90 electric SUV has 16 sensors, 8 cameras, impressive range

Despite a familiar looking exterior, Volvo’s 2024 EX90 three-row family hauling electric SUV will bristle with new features when it rolls off the assembly line in South Carolina late this year.Hitting dealerships as a 2024 model, the seven-passenger EX90 rides on a new architecture developed specifically for EVs. Volvo expects EPA certification of a 300-mile range on a full battery, with charging times of 30 minutes to go from 10% to 80% at 250 kW. Charging to 100% on a home 240-volt battery will take 8-9 hours....

Despite a familiar looking exterior, Volvo’s 2024 EX90 three-row family hauling electric SUV will bristle with new features when it rolls off the assembly line in South Carolina late this year.

Hitting dealerships as a 2024 model, the seven-passenger EX90 rides on a new architecture developed specifically for EVs. Volvo expects EPA certification of a 300-mile range on a full battery, with charging times of 30 minutes to go from 10% to 80% at 250 kW. Charging to 100% on a home 240-volt battery will take 8-9 hours.

Key figures on Volvo’s new electric flagship:

Best new idea

A diagram labeled “Will it fit?” shows exactly how much cargo space there is behind the third row of seats, when it’s folded, then with the second row folded flat, and when the front passenger seat is tipped and slid forward. Also the height and width of the rear hatch. The graphic includes images of potential cargo, including luggage, a baby stroller, golf clubs, a lamp and a washing machine.

Built in the USA — and China

Swingin’ Thor’s Hammer

LEDs take Volvo’s dramatic ‘Thor’s Hammer’ headlight design to the next level: It’s visible day AND night, instead of just with DRLs, as on current vehicles. The lights also greet the driver with a welcome sequence.

Sensor mania, inside and out

Nobody’s ever going to sneak up on an EX90. The SUV has:

In addition to sensing oncoming traffic from all angles and pedestrians and cyclists ahead, the EX90 lidar will be able to spot a baseball 820 feet (250 meters) ahead. There’s no night vision display, but lights and sounds will keep the driver apprised.

Volvo says the sensors make the EX90 ready for future software updates “for unsupervised driving in the future.”

The EX90’s interior will be equally thoroughly observed. Occupant sensing radar will be able to detect movements as slight as an infant’s breathing under a blanket. The sensing will stretch from the front footwells to the tailgate, making it virtually impossible to forget an occupant. The doors won’t lock if anybody’s left in the car, unless the driver specifically overrides that features.

The driver can set the climate control to keep pets left inside the vehicle comfortable.

Radical interior

The EX90 is a luxury vehicle, but don’t expect a leather interior. Seats and other surfaces are covered in either a convincing pseudo leather based on recycled and sustainable forest materials or tweedy wool blend.

Wood trim comes from certified sustainably managed forests. The wood is backlit by LEDs intended to simultaneously “create a Scandinavian living room atmosphere” and “evoke Nordic wilderness.”

The dashboard is slim and low, largely because it doesn’t contain any conventional displays or controls. A 15-inch portrait-oriented touch screen in the middle controls most functions. A narrow horizontal screen is attached to the steering column.

A single physical dial on the center console controls audio volume, track and play/pause.

There’s also a configurable color head-up display.

Etc.

Contact Mark Phelan: 313-222-6731 or mmphelan@freepress.com. Follow him on Twitter @mark_phelan. Read more on autos and sign up for our autos newsletter. Become a subscriber.

Polestar (PSNY) boosts Q4 financial position ahead of ‘exciting’ 2023 EV launches

Polestar (PSNY) strengthened its financial position in Q4 as the Swedish EV maker enters an exciting year with two new electric vehicle launches.The company’s fourth-quarter earnings are a breath of fresh air compared to most upcoming EV makers we’ve covered, with narrowing losses and surging revenues.Polestar Q4 financial resultsPolestar released its ...

Polestar (PSNY) strengthened its financial position in Q4 as the Swedish EV maker enters an exciting year with two new electric vehicle launches.

The company’s fourth-quarter earnings are a breath of fresh air compared to most upcoming EV makers we’ve covered, with narrowing losses and surging revenues.

Polestar Q4 financial results

Polestar released its fourth quarter earnings and full-year 2022 earnings results Thursday, March 2 before market opening, highlighting a solid end to the year with slimming losses and higher-than-expected sales.

After beating its goal and delivering 51,491 cars last year, the Swedish EV marker reported revenue of $2.5 billion last year, up 84% from 2021 and exceeding Wall Street expectations of $2.4 billion.

Perhaps, more importantly, Polestar cut its losses in half last year (a rarity these days) with a net loss of $465 million, compared to over $1 billion in 2021.

Polestar says a higher gross profit of $118.5 million was due to rising Polestar 2 sales and lower fixed manufacturing costs.

In Q4, revenue swelled to $985.2 million on the back of Polestar’s first fully electric car. The company ended the year with nearly $1 billion in liquidity as it moves to expand its presence globally.

CEO Thomas Ingenlath expects the momentum to continue with an “exciting year” ahead in 2023, as he explained on the company’s earnings call.

A big year for Polestar

Polestar aims for 80,000 vehicle deliveries in 2023, an increase of around 60% from this past year.

The company launched a major update to the 2024 Polestar 2 with a new high-tech front end, more powerful electric motors and batteries, and additional rear-wheel-drive.

Polestar continues building its brand in the US, but as Ingenlath explains on the company’s earnings call, although you may not see as many Polestar vehicles in the US as brands like Rivian or Lucid, the brand is global and can be found in places these EV makers have not entered yet.

Polestar has an advantage over other upcoming EV markers like Rivian with the “agility of a startup” and “stability of established players” from parent companies Volvo and Geely.

Rather than building costly new electric vehicle manufacturing plants like other startups, Polestar can convert existing factories, such as the one opened by Volvo in Ridgeville, SC, where the Polestar 3 will be built.

The Polestar 3, the company’s first electric SUV, debuted in October with over 300 miles range. The electric SUV is expected to play a key role in expanding the Polestar brand, with deliveries expected by the end of the year.

In addition, Polestar is launching an electric performance SUV coupe this year, the Polestar 4, poised to take on top EVs in the segment like the Tesla Model Y.

Next year, Polestar will follow it up with an electric performance 4-door GT, the Polestar 5.

Polestar stock is up over 20% following its Q4 release after falling over 50% in the past 12 months as investors digest the news.

Redwood Materials Establishes Ridgeville, South Carolina, EV Battery Plant

Redwood Materials, a producer of anode and cathode battery components for electric vehicles, plans to establish its Battery Materials Campus at Camp Hall Commerce Park in Ridgeville, South Carolina. The $3.5 billion project is expected to create 1,500 jobs in Berkeley County.The more than 600-acre campus will initially produce enough anode and cathode material for 100 gigawatt...

Redwood Materials, a producer of anode and cathode battery components for electric vehicles, plans to establish its Battery Materials Campus at Camp Hall Commerce Park in Ridgeville, South Carolina. The $3.5 billion project is expected to create 1,500 jobs in Berkeley County.

The more than 600-acre campus will initially produce enough anode and cathode material for 100 gigawatt-hours of battery cell production or 1 million electric vehicles each year, according to state officials. Operations are scheduled to begin in 2023.

“South Carolina’s commitment to creating a secure energy future and a competitive landscape for electric vehicle manufacturing, supported by a world-class workforce, fast and efficient logistics, zero-carbon electricity and a phenomenal site made it a smart decision for Redwood to invest here. Redwood’s South Carolina Battery Materials Campus will recycle, refine and remanufacture anode and cathode components allowing us to support our current and future customers in the heart of America's battery belt. We're ready to support this region and U.S. electrification by driving down battery costs, emissions, and reducing reliance on foreign supply chains,” said Redwood Materials Founder and CEO JB Straubel.

After the Joint Bond Review Committee recommended approval, the State Fiscal Accountability Authority authorized the issuance of General Obligation State Economic Development Bonds not exceeding $226 million, and notes in anticipation thereof, to offset the cost of acquiring the site, site improvements, related infrastructure and bond issuance costs.

"The future of the automotive industry is paving a path through South Carolina, and Redwood Materials establishing operations in our state proves that point. The company’s historic announcement and the 1,500 new jobs it will create mean we are strengthening sustained, long-term economic growth that will benefit South Carolinians for years to come. We applaud Redwood Materials for their commitment to creating a circular economy here and working to shorten the supply chain through recycling efforts,” noted Secretary of Commerce Harry M. Lightsey III.

The Coordinating Council for Economic Development also awarded job development credits related to this project.

“South Carolina Ports is excited to welcome Redwood Materials to South Carolina. SC Ports is a critical supply chain partner for many of South Carolina’s advanced manufacturers, efficiently importing goods for production and exporting finished products to global markets. SC Ports looks forward to supporting Redwood Materials’ new investment that will strengthen our state’s position as a leader in automotive, electrification and sustainability,” added SC Ports President and CEO Barbara Melvin.

Redwood Materials works to recover more than 95% of the critical minerals and rare earth elements from batteries, like nickel, cobalt, lithium, and copper, and then reintroduce those materials into the supply chain through the anode and cathode materials it produces for U.S. battery manufacturers. The company works with multiple partners that have existing operations across the U.S., such as Volvo, Envision AESC, Proterra, Panasonic, Volkswagen and Audi, for reclaiming and recycling end-of-life batteries and production scrap to produce battery components.

“This record-setting economic development win will have a significant positive return on investment for our community. Congratulations to Redwood Materials, our partners in Berkeley County, and to everyone involved in this impactful economic development deal that will bring not only high-paying jobs to our residents, but innovation opportunities to our region,” Charleston Regional Development Alliance Board Chairman and President and CEO of Berkeley Electric Cooperative Mike Fuller said.

“Redwood Materials represents a tremendous opportunity for South Carolina to increase our sustainable manufacturing footprint and supply chain security. Redwood Materials fits perfectly with Santee Cooper’s vision in developing Camp Hall, and we are proud to welcome JB Straubel and his team to Berkeley County, South Carolina,” Santee Cooper Director Stephen H. Mudge added.

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