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Group14 Closes €150 Million Series D Extension to Accelerate Global Manufacturing Footprint
Mobility1 min read
Group14 Technologies, a maker of silicon-based battery materials, has closed an extension of its Series D funding round worth 150 million euros. The money will help it build a new factory in Spain to serve European carmakers.
What happened
Group14 announced that it closed an extension of its Series D equity round. The round is worth 150 million euros, about 169 million US dollars. Part of the money will move Group14's SCC55 production into Europe. The company picked Sagunto, in Spain, as the site for its next industrial-scale production module. This module will start with a capacity of 10 GWh.
Key numbers
- Funding in this extension: 150 million euros (about 169 million US dollars).
- Total Series D funding now: more than 665 million US dollars.
- BAM-3 in South Korea: one module, 10 GWh, already running and growing output.
- BAM-2 in Moses Lake, Washington State: two modules, 20 GWh, due to start production in 2027.
- Short-term total capacity after the expansion: 40 GWh.
Some background
Group14 makes silicon-carbon materials that go into lithium-ion batteries. Silicon can store more energy than the graphite used in most batteries today. Its main product, SCC55, is said to offer higher energy density and faster charging, no matter what battery chemistry is used. Group14 has run a pilot plant in Woodinville, Washington, since 2021.
Why it matters
Europe is the second-largest car producer in the world after China, so a factory in Spain puts Group14 close to major carmakers. This can shorten delivery times and reduce the risk of supply shortages in one region. The company says its plants in North America, Asia and Europe make it the most widely spread maker of silicon battery materials. The company also plans to build hundreds of GWh of capacity over the next 10 years.
What to watch
- When the Spain factory (BAM-4) starts production and how fast it grows.
- Whether BAM-2 in Washington State starts on schedule in 2027.
- Whether Group14 signs new deals with European carmakers.
- Who the anonymous new investor is, if it is named later.
Glossary
- Group14 Technologies
- A company that makes silicon-based materials to help batteries store more energy and charge faster.
- Series D
- A round of fundraising in which a company sells shares to investors to raise money for growth.
- SCC55
- Group14's main battery material, a silicon-carbon mix that boosts battery energy and charging speed.
- GWh
- Gigawatt-hour, a unit of energy. It is often used to measure how much battery material a factory can make.
- BAM
- Battery Active Material. Group14 uses this name for its factories, such as BAM-1 to BAM-4.