Group14 Technologies, a leading developer of advanced silicon battery materials, said it raised $463 million in a Series D funding round and acquired full ownership of its South Korea battery active materials (BAM) factory, strengthening its ability to produce high-performance SCC55® for global energy storage markets.
The Series D round was led by SK, Inc., with participation from Porsche Investments, ATL, OMERS, and other investors. The funding will support expansion of Group14’s manufacturing operations in the U.S. and South Korea, enabling the company to supply over 100 electric vehicle (EV) and consumer electronics customers.
The acquisition gives Group14 100% control of its BAM-3 factory in Sangju, South Korea, which produces 10 gigawatt-hours of SCC55® annually and serves global battery manufacturers. The company said the move enhances its oversight of Asian production, where some of the world’s largest battery makers are located.
“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,” said Rick Luebbe, CEO and Co-Founder of Group14.
In addition to South Korea, Group14 operates two BAM factories in Washington state and is building a silane gas factory in Germany to supply next-generation energy storage technologies. The company said its efforts aim to reinforce global supply chains amid growing demand for EV batteries and consumer electronics.
