Group14 Technologies announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners. The new funds will be used to scale-up manufacturing of a next-generation silicon-carbon composite anode material and advance into commercial production.

Group14 Technologies—a 2016 spin-off from EnerG2—derives its name from the Periodic Table column listing both silicon and carbon (the carbon group). Group 14 also includes germanium, tin, and lead.

The participation of these industry leaders together is strong validation of our product’s performance, scalability, and strong intellectual property position, not to mention the enormous market opportunity. When the automotive industry is fully electrified, there will be a nearly trillion-dollar battery industry, 25 times bigger than today. Partnering with the most influential players in the space, we’ll be playing a significant role in making a fully-electrified automotive reality happen faster.

—Rick Luebbe, Co-Founder and CEO, Group14 Technologies

The opportunity to aggressively advance the electrification of the transportation system is right now. It is innovative materials that will create the greatest impact. Group14 Technologies will be one of the companies that helps to make electric vehicles widespread and ubiquitous.

—Bob Lutz, Group14 Board Member

Group14 Technologies manufactures novel lithium-ion battery materials that boost battery performance. Unlike competing technologies, Group14’s materials are designed for low cost and “drop in” compatibility with existing lithium-ion battery production.

Covered by extensive composition of matter and process patents, Group14 Technologies’ breakthrough is a novel, cost-effective process, which allows the company to combine nanostructured porous carbon with silicon to form a sponge-like composite. This structure provides high capacity and structural integrity through extended battery cycling.

Group14 integrates synthetic carbon technology with novel approaches to silicon structure and manufacturing to address the challenges of energy density and cycle life in Li-ion batteries. The engineered carbons at the heart of Group14’s technology already outperform all other carbons available in Li-ion batteries, the company says.

Group14’s expertise in nanomaterials and manufacturing has enabled the development of novel approaches to producing and incorporating silicon into carbon to produce a new class of silicon-carbon composites for battery applications. The objective at Group14 is to develop products that replace graphite in all batteries reflecting not just high performance, but also value derived from novel manufacturing approaches.