Group14 Technologies Announces US$463M Series D Funding Round Closure and Acquisition of BAM Factory in South Korea

Group14 Technologies announced the closure of a US$463M funding round led by SK, Inc., with significant participation from Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, Microsoft Climate Innovation Fund, and other existing investors. The purpose of this funding is to further expand the production of Group14’s silicon battery material, SCC55, in the U.S. and South Korea, in response to the increasing demand for energy storage solutions worldwide. The Series D funding aims at accelerating the scale and global distribution of SCC55®. Additionally, Group14 has acquired the remaining 75% of the joint venture in South Korea with SK, ensuring complete ownership of the BAM Factory where the silicon battery material is manufactured in Asia.