Sept 19 (Reuters) - Redwood Materials said on Tuesday it has acquired lithium-ion battery recycler Redux Recycling for an undisclosed amount to increase battery-recycling capacity and strengthen its footing in Europe's electric-vehicle battery market.

Nevada-based Redwood, founded by former Tesla executive JB Straubel, recycles electronics and extracts valuable materials such as cobalt, lithium, nickel and manganese from batteries.

Last month, the battery materials firm raised more than $1 billion in new funding as it seeks to expand its operations in the United States.

Redux's facility in North Germany is equipped to recycle 10,000 tonnes of batteries annually. The facility is located near the Bremerhaven Port, allowing Redwood to transport, recycle and refine EV packs and batteries from across the European continent, the company said.

Over 30 EV-battery makers have plans to set up facilities in the region as Europe and the U.S. seek to cut dependence on China for EV batteries by 2030. (Reporting by Aishwarya Jain; Editing by Shilpi Majumdar)