Climate and Clean Tech | May 10, 2022

Group14 Technologies rakes in $400 million to commercialize silicon batteries

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, May 10 — Battery tech ventures are raising big rounds in the race for better lithium batteries. Seattle-based Group14, which developed a silicon-carbon material it says can improve on the graphite anodes in lithium-ion batteries for electronics, cars and planes, has raised $400 million.

“The pressure is on to support the demand we see,” Group14’s Rick Luebbe said. The company will use the investment to build a manufacturing facility in the state of Washington to produce batteries as soon as the second half of next year.

Group14 secured $52 million from South Korea’s SK Group last year.

Electric vehicles

Cellforce Group, Porsche’s battery manufacturing subsidiary, will use Group14’s tech to start producing lithium-silicon battery cells in Germany by 2024.

Porsche led the Series C round, with participation from BlackRock and Temasek’s Decarbonization Partners. Porsche is looking to make at least 80% of its new vehicles electric by 2030..