Group14 Technologies has successfully finalized a substantial funding round, securing US$463 million, primarily led by SK, Inc. This financing round saw robust participation from a distinguished group of existing investors, including notable names such as Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, and the Microsoft Climate Innovation Fund.
The funding will be instrumental in further accelerating the production of Group14’s innovative silicon battery material, known as SCC55. This scaling effort will take place in the United States and South Korea, addressing the skyrocketing global demand for advanced energy storage solutions that are critical to the future of technology and sustainability.
In a significant move, Group14 has also acquired full ownership of its joint venture with SK Inc. Based in Sangju, South Korea, this joint venture was first established in 2021 and has since developed a state-of-the-art factory dedicated to manufacturing Group14’s flagship product, SCC55. This facility is capable of producing battery active materials at an electric vehicle (EV) scale, bolstering the capacity needed to support the rapidly expanding global battery manufacturing sector.
Strategically located in Asia, BAM-3—Group14’s third commercial battery active materials factory positions the company amidst the world’s largest battery manufacturers. This 10-gigawatt-hour facility began shipping its first batches of SCC55 in September 2024, catering to a diverse array of over 100 battery manufacturing clients across the electric vehicle and consumer electronics markets.
Group14 also continues to expand its footprint beyond North America, with plans for a cutting-edge silane gas factory in Germany. This facility will serve as a vital source of precursor materials essential for the development of next-generation energy storage technologies, further enhancing Group14’s commitment to innovation in the battery industry.
With the closing of the Series D funding round, Group14 has now raised over $1 billion in equity, fueling its ambitious growth agenda and solidifying its position as a leader in silicon battery technology.
KEY QUOTES:
“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. We’re strengthening regional battery supply chains and safeguarding our customers from global trade uncertainty.”
Rick Luebbe, CEO and Co-Founder of Group14
“Group14 technology is already integrated into millions of ATL batteries powering AI-enabled smartphones. We support even broader delivery of their silicon anode material to power the next generation of high-performance silicon batteries.”
Joe Kit Chu Lam, Executive Vice President at ATL, a subsidiary of TDK Corporation
