Group14 is a producer of silicon-carbon tech for lithium-silicon batteries, which are superior to traditional lithium-ion batteries.

Group14 Technologies is a global manufacturer and supplier of advanced silicon-carbon technology for lithium-silicon batteries that would “enable the electrification of everything.” It announced today its successful $400 million Series C round of funding led by Porsche AG (ETR: PAH3) with participation from OMERS Capital Markets, Decarbonization Partners, Riverstone Holdings LLC, Vsquared Ventures, Moore Strategic Ventures, and other large institutional investors. (Electrek)

Over the past year, Group14 has launched a commercial-scale Battery Active Materials (BAM) factory in the U.S. and broken ground on a joint venture factory with SK Group in South Korea. Group14 intends to utilize the funds to build a second manufacturing facility in the US for Battery Active Materials.

Its next-generation materials help lithium-silicon batteries deliver 50% higher performance than traditional lithium-ion batteries, eliminating range and charge worries. Furthermore, lithium-silicon technologies are fully compatible with existing manufacturing facilities and processes.

“Our investment in Group14 is an important step for Porsche’s M&A activities,” said Lutz Meschke, deputy chairman and member of the executive board of Finance and IT at Porsche AG. “We have been actively investing in ambitious companies since 2016 and through our venture capital unit Porsche Ventures, we have gained a deep understanding of the venture capital world and are excited to lead this round.”

Cellforce Group, a Porsche subsidiary, is set to produce high-performance lithium-silicon battery cells in South Germany beginning in 2024 to be installed in electrically powered Porsche models.

“We are investing in the development of new high-performance cells with Cellforce and in the production of battery modules,” said Meschke. “As a result, Porsche has decided to partner with Group14 Technologies.”

The additional funding will also enable Group14 to accelerate delivery of its mass-market, drop-in ready technology, SCC55, which is capable of turning any gigafactory into a 1.5GW facility overnight. SCC55 is the company’s flagship product – a micronized silicon-carbon powder.

SCC55 has five times the capacity and affords up to 50% more energy density than conventional graphite for Lithium battery anodes.

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