Silicon Battery Materials Manufacturer Group14 Closes $463 Million Series D
Group14 has also acquired the 75% balance - marking 100% ownership - of its battery active materials (BAM) factory in South Korea.
(Woodinville, Washington) Silicon battery materials manufacturer Group14 Technologies announced today that it has closed its $463 million Series D funding round led by South Korea’s SK, Inc., with additional participation from other existing investors, including Porsche Investments, ATL Partners, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund and Microsoft Climate Innovation Fund, among others.
Photo of Group14’s BAM-3 factory in South Korea, which delivers the company’s SCC55® to Asia’s top battery manufacturers, courtesy of Group14 Technologies.
The Series D funding 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 demand amid surging requirements for energy storage worldwide, according to today’s press release from Group14. Following the Series D round, Group14 has raised more than $1 billion of equity to date.
Group 14’s SCC55 is used in numerous applications, including phones and other consumer electronics, electric vehicles and electric vertical takeoff and landing (eVTOL) aircraft – the latter by way of Molicel’s P50B silicon anode batteries.
In addition to the capital raise, Group14 also announced today that it acquired full ownership of its joint venture with SK Inc.: its battery active materials (BAM) factory located in Sangjui, South Korea, which produces Group14’s flagship technology, SCC55.
As Group14’s third commercial battery active materials factory, BAM-3 is strategically located in Asia, home to the world’s largest battery manufacturers; the 10-gigawatt-hour factory began delivery of SCC55 to over 100 electric vehicle and consumer electronics battery manufacturing customers worldwide in September of 2024.
"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."
