Charged EVs | Group14 Applied sciences raises $214 million for improvement of silicon battery tech

Group14 Applied sciences, a world producer and provider of silicon battery tech, has raised $214 million in further financing from a consortium that features Microsoft’s Local weather Innovation Fund, Lightrock Local weather Influence Fund, Moore Strategic Ventures, Oman Funding Authority and Molicel, bringing the corporate’s Sequence C spherical complete to $614 million.

Group14 launched its first Battery Energetic Supplies manufacturing unit, BAM-1 in Woodinville, Washington, in April 2021 with a yearly nameplate capability of 120 tons of SCC55, its proprietary silicon-carbon battery product. The Sequence C funding, along with a $100-million grant from the DOE, will probably be used to construct the corporate’s second commercial-scale manufacturing unit, BAM-2. Group14 has additionally introduced plans for a further BAM manufacturing unit in South Korea as a part of a three way partnership with SK. 

The corporate says its silicon battery expertise is able to delivering larger efficiency than conventional lithium-ion batteries when it comes to vitality density and cost charges.

Supply: Group14