US-based producer Group14 Applied sciences has closed its $463-million Collection D funding spherical to proceed scaling the manufacture of its silicon battery materials, SCC55, within the US and South Korea.
The spherical was led by South Korean battery supplies agency SK, and included different present buyers similar to Porsche Investments, ATL, OMERS, Decarbonization Companions, Lightrock Local weather Impression Fund, Microsoft Local weather Innovation Fund.
Group14 has now raised over $1 billion of fairness to fund its development.
As well as, the corporate has obtained full possession of its three way partnership (JV) with SK positioned in Sangju, South Korea. Shaped in 2021, the JV’s battery lively supplies (BAM) manufacturing unit produces SCC55 at EV scale to assist the worldwide battery manufacturing business.
Group14’s third industrial battery lively supplies manufacturing unit, BAM-3, is strategically positioned in Asia, residence to the world’s largest battery producers. The ten GWh manufacturing unit started supply of SCC55 In September 2024 to greater than 100 EV and shopper electronics battery manufacturing prospects worldwide.
Group14’s different BAM factories are positioned in Washington state. The corporate is increasing silicon battery infrastructure in Europe by growing a state-of-the-art silane gasoline manufacturing unit in Germany.
“It is a clear sign that the way forward for high-performance power storage, powered by our silicon battery materials, is already right here,” stated Rick Luebbe, CEO and co-founder of Group14. “We’re strengthening regional battery provide chains and safeguarding our prospects from world commerce uncertainty.”
Supply: Group14 Applied sciences
