Group14 Technologies has closed a €150 million, or approximately $169 million, Series D extension that will finance a major expansion of its silicon battery materials manufacturing network into Europe.
The funding was provided by a new undisclosed investor and increases Group14’s total Series D financing to more than $665 million.
As part of the expansion, Group14 selected Sagunto, Spain, for its next large-scale manufacturing facility.
The planned BAM-4 plant will initially have approximately 10 GWh of annual production capacity for Group14’s SCC55 silicon-carbon battery material.
Adding the Spanish facility will increase the company’s near-term manufacturing footprint to approximately 40 GWh.
Group14 already operates a 10 GWh module at BAM-3 in Sangju, South Korea, which is currently scaling production.
Its BAM-2 facility in Moses Lake, Washington, is expected to bring two modules totaling approximately 20 GWh online during 2027.
The company has also operated its BAM-1 commercial pilot plant in Woodinville, Washington, since 2021 and has delivered SCC55 to more than 150 customers.
Group14 ultimately plans to deploy hundreds of gigawatt-hours of manufacturing capacity over the next decade.
The company said establishing production in Spain will place SCC55 closer to major European automotive supply chains and provide localized support to customers.
Group14’s silicon-carbon material is designed to improve battery energy density and charging speeds and is already used across smartphones, drones, hypercars, and electric vertical takeoff and landing aircraft.
The company supports customers representing more than 95% of global lithium-ion battery production and holds a portfolio of more than 200 patents.
KEY QUOTES:
“To truly transform the energy economy, battery material producers must be located where the batteries are made. Our expansion into Spain reflects our vision: staying nimble, building near key customer hubs, and maintaining secure, localized supply chains.”
Rick Luebbe, CEO And Co-Founder Of Group14 Technologies
