US-based manufacturer Group14 Technologies has closed its $463-million Series D funding round to continue scaling the manufacture of its silicon battery material, SCC55, in the US and South Korea.
The round was led by South Korean battery materials firm SK, and included other existing investors such as Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, Microsoft Climate Innovation Fund.
Group14 has now raised over $1 billion of equity to fund its growth.
In addition, the company has obtained full ownership of its joint venture (JV) with SK located in Sangju, South Korea. Formed in 2021, the JV’s battery active materials (BAM) factory produces SCC55 at EV scale to support the global battery manufacturing industry.
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 GWh factory began delivery of SCC55 In September 2024 to more than 100 EV and consumer electronics battery manufacturing customers worldwide.
Group14’s other BAM factories are located in Washington state. The company is expanding silicon battery infrastructure in Europe by developing a state-of-the-art silane gas factory in Germany.
“This is 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.”
Source: Group14 Technologies
from Charged EVs https://ift.tt/ujyH3Ic
No comments:
Post a Comment