Group14 just locked down $463 million to ramp up production of silicon anode materials for lithium-ion batteries. The big cash injection comes as a sign investors still back EV tech, even with recent EV demand slowdown headlines.
The startup makes silicon anodes that boost battery storage capacity. It runs three factories now—two in the U.S. and one in South Korea.
The funding round was led by battery giant SK with help from ATL, Lightrock, Microsoft, Porsche, and OMERS. Group14 also took full control of its South Korea joint venture with SK, including the BAM 3 factory. SK had owned 75% before. 
Kristen Caron, Group14’s spokesperson, declined to confirm if the JV deal was part of the funding total.
Silicon can hold up to 10 times more electrons than graphite, but it tends to break down during charge cycles due to expansion and contraction. Group14’s solution is a scaffold material with internal voids to hold silicon steady and prevent crumbling.
Their material can replace graphite or be mixed in. More silicon means more battery energy density. Group14 claims up to a 50% boost in energy density and fast charging under 10 minutes.
The lithium-ion battery market is still booming despite EV sales jitters, expected to grow 15% annually for the next decade.
Group14 is betting silicon anodes are the way forward to faster, more efficient EV batteries.
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