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Group14 Technologies raises $214 million for development of silicon battery tech
Group14 Technologies, a global manufacturer and supplier of silicon battery tech, has raised $214 million in additional financing from a consortium that includes Microsoft’s Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority and Molicel, bringing the company’s Series C round total to $614 million.
Group14 launched its first Battery Active Materials factory, BAM-1 in Woodinville, Washington, in April 2021 with a yearly nameplate capacity of 120 tons of SCC55, its proprietary silicon-carbon battery product. The Series C funding, in conjunction with a $100-million grant from the DOE, will be used to build the company’s second commercial-scale factory, BAM-2. Group14 has also announced plans for an additional BAM factory in South Korea as part of a joint venture with SK.
The company says its silicon battery technology is capable of delivering higher performance than traditional lithium-ion batteries in terms of energy density and charge rates.
Source: Group14
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