Sign up for our popular daily email to catch all the latest EV news!
Group14 Technologies, a leader in advanced silicon battery materials, has successfully closed a US$463 million Series D funding round led by SK, Inc., and acquired full ownership of its joint venture battery active materials (BAM) factory in South Korea. These milestones bolster Group14’s mission to scale production of its flagship silicon battery material, SCC55®, to meet global demand for high-performance energy storage.
Key Highlights
- Series D Funding: Raised US$463 million, led by SK, Inc., with participation from Porsche Investments, ATL, OMERS, and others.
- Full Ownership of BAM Factory: Acquired 100% of the South Korea joint venture from SK, Inc., enhancing control over SCC55® production.
- Global Expansion: Funds will scale SCC55® manufacturing in the U.S. and South Korea, supporting over 100 EV and electronics customers.
- Strategic Asian Presence: The BAM-3 factory in Sangju, South Korea, delivers 10 gigawatt-hours of SCC55® to global battery manufacturers.
- European Infrastructure: Building a silane gas factory in Germany to support next-generation energy storage.
- Total Equity Raised: Over US$1 billion to fuel Group14’s growth in silicon battery technology.
Scaling Silicon Battery Production
The Series D funding enables Group14 to accelerate production of SCC55®, a high-performance silicon battery material driving the global transition to electrification. With surging demand for energy storage in electric vehicles (EVs) and consumer electronics, Group14 is strengthening regional supply chains to ensure stability amid global trade uncertainties. The company’s technology powers millions of devices, including AI-enabled smartphones, as noted by Joe Kit Chu Lam, Executive Vice President at ATL, a TDK Corporation subsidiary.
Strategic Acquisition in South Korea
Group14’s acquisition of the Sangju, South Korea BAM factory marks a pivotal step in controlling its Asian manufacturing operations. Originally a 2021 joint venture with SK, Inc., the facility now operates as Group14’s third commercial factory, producing SCC55® at EV scale. Strategically located in Asia, home to the world’s largest battery manufacturers, the 10-gigawatt-hour factory began deliveries in September 2024, serving over 100 global customers in the EV and consumer electronics sectors.
Global Infrastructure Expansion
Beyond South Korea, Group14 operates two BAM factories in Washington state, reinforcing its U.S. manufacturing presence. The company is also expanding into Europe with a new silane gas factory in Germany, which will supply a critical precursor for next-generation energy storage technologies. These efforts position Group14 as a global leader in silicon battery materials, supporting 95% of global lithium-ion battery production.
Leadership and Vision
Rick Luebbe, CEO and Co-Founder of Group14, emphasized the significance of these developments, stating, “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.” The company’s advancements underscore its commitment to transforming rechargeable energy storage and accelerating electrification worldwide.
About Group14 Technologies
Founded to revolutionize battery performance, Group14 Technologies delivers SCC55®, a silicon battery material that enhances energy storage for EVs, AI-enabled devices, and more. With commercial-scale factories in the U.S. and Asia, Group14 supports the global battery manufacturing industry, driving innovation in the silicon battery era.
For more information, visit www.group14.technology.
Sign up for our popular daily email to catch all the latest EV news!
