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Group14 raises $400 million for silicon-carbon battery materials factory in US

Silicon-carbon battery tech supplier Group14 Technologies has raised $400 million in Series C funding, which it plans to use to open its second battery active materials factory in the US. The plant will produce the company’s proprietary SCC55 lithium-silicon battery material for Porsche subsidiary Cellforce Group, which will use it to begin producing battery cells in south Germany beginning in 2024.

SCC55 is a silicon-carbon powder designed for anodes, and the company says it is “capable of turning any gigafactory into a 1.5 GW facility overnight.” The company also says its next-generation materials “help lithium-silicon batteries deliver 50% higher performance than traditional lithium-ion batteries, eliminating range and charge anxiety.”

Group14 has also broken ground on a joint venture factory with SK Group in South Korea.

Source: Group14 Technologies

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