Group14 Technologies today announced that it has closed a US$463M round led by SK, Inc., with strong participation of other existing investors, including Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, Microsoft Climate Innovation Fund, and others.
The funds will be used to continue scaling the manufacture of Group14’s silicon battery material, SCC55, in the U.S. and South Korea, and help meet overwhelming demand amid surging requirements for energy storage worldwide.
In addition, Group14 obtained full ownership of its joint venture with SK Inc., located in Sangju, South Korea. Formed in 2021, the joint venture’s battery active materials (BAM) factory produces Group14’s flagship technology, SCC55, at EV scale to support the global battery manufacturing industry.
“This is a defining moment for Group14 and a clear signal that the future of high-performance energy storage, powered by our silicon battery material, is already here,” said Rick Luebbe, CEO and Co-Founder of Group14. “We’re strengthening regional battery supply chains and safeguarding our customers from global trade uncertainty.”
As Group14’s third commercial battery active materials factory, BAM-3 is strategically located in Asia, home to the world’s largest battery manufacturers. In September 2024, the 10-gigawatt-hour factory began delivery of SCC55 to over 100 electric vehicle and consumer electronics battery manufacturing customers worldwide.
“Group14 technology is already integrated into millions of ATL batteries powering AI-enabled smartphones,” said Joe Kit Chu Lam, Executive Vice President at ATL, a subsidiary of TDK Corporation. “We support even broader delivery of their silicon anode material to power the next generation of high-performance silicon batteries.”
Group14’s first and second BAM factories are located in Washington state. The company is expanding silicon battery infrastructure in Europe with a state-of-the-art silane gas factory in Germany, which will supply a critical precursor for next-generation energy storage technologies.
Following the Series D round, Group14 has raised over US$1B of equity to fund its growth.
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