Group14 Technologies secures $17M in Series B led by SK to scale production of lithium-silicon anode technology
Group14 Technologies, a developer of a micronized silicon-carbon powder, tunable by design and drop-in ready, has secured $17 million in Series B funding led by SK Materials, one of the world’s top manufacturers of special gases and industrial gases, with participation from returning investor OVP Venture Partners.
Group14 will leverage this operating capital to scale production to meet the increasing demand for its flagship product SCC55, which affords up to 50% more energy density than conventional graphite for lithium-ion batteries.
SCC55’s hard carbon-based scaffolding keeps silicon in the most ideal form—amorphous, nano-sized, and carbon-encased. The result is the anode material that exhibits outstanding first cycle efficiency and long life upon Li-ion battery cycling.
Group14 recently announced plans to break ground on its new hydropowered production facility in Moses Lake, Washington. The facility highlights the company’s first steps to build out a domestic lithium-ion battery supply chain to meet growing demand from the electric vehicle market.
Group14’s lithium-silicon technology, SCC55, promises to deliver significantly more energy density per volume to meet the increasing global demand for high-performing lithium-ion-based storage. Group14 has begun ramping up its pilot production and plans to supply its first commercial customers in consumer electronics in 1Q21, with more to follow in other markets.
Group14’s earlier financing was led by global battery leaders including Amperex Technology Limited (ATL), the largest producer of lithium-ion batteries for consumer electronics; Showa Denko, a Japanese materials company and the largest producer of graphite; Cabot Corporation, the leading producer of conductive additives; and BASF, the world’s largest chemical producer.