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Draft:Group14 Technologies

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Overview

Group14 Technologies is an American manufacturer and supplier of advanced silicon battery technology for rechargeable lithium-silicon batteries. [1] Headquartered in Woodinville, Washington, Group14 operates one commercial factory in Woodinville, Washington, and is building a second commercial factory in Moses Lake, Washington. [2] [3] [4] Group14 is partnering with SK, Inc. to build a joint venture factory in Sangju, South Korea, which is in the final stages of commissioning and is expected to be completed in 2024. [4] [5] [6] Group14 acquired Schmid Silicon Group and plans to restart a silane facility in Spreetal, Germany, in 2025. [7]

Group14 currently delivers its silicon battery technology, SCC55™, to a list of customers that include Porsche for electric vehicle batteries and Amperex Technology Limited (ATL) for smartphones. [8] [9] [10] [11]

Group14 announced that it expects to have 30 GWh of production capacity from 2024-2025, and will become the world's first mass producer of advanced silicon materials for EV programs. [4]

History

Group14 was founded in 2015 by Rick Luebbe and Dr. Rick Costantino [1] [12] after it was spun out from the energy storage materials company EnerG2, which was acquired by German chemical company BASF in 2016. [13] [14]

In April 2021, Group14 launched its first commercial Battery Active Materials factory (BAM-1) in Woodinville, Washington.[2] [15] In April 2023, Group14 broke ground on its second commercial BAM factory (BAM-2) in Moses Lake, Washington; the construction was supported by a $100 million grant from the United States Department of Energy. [16] [17] [18] [19] [20] In July 2021, Group14 announced a joint venture with SK to build a BAM factory in Sangju, South Korea, which is expected to have a nameplate manufacturing capacity of 2,000 tons of SCC55™, equivalent to 10 GWh of silicon battery capacity annually. [4] [5] [6] [21] [22] In July 2023, Group14 acquired Schmid Silicon Group and announced plans to restart a silane factory in Spreetal, Germany in 2025. [7] [23]

In June 2024, Group14 announced it had signed five multi-year binding offtake agreements with three leading electric vehicle cell manufacturers and two leading consumer electronic cell manufacturers across Europe, Asia, and North America. [4]

Technology

SCC55™ is a silicon-carbon composite anode material that promises up to 50% greater energy density and 0-80% extreme-fast charging in under 10 minutes. [11] [18] [23] [24] [25] [26] Today, Group14 delivers to more than 100 customers representing 95% of worldwide lithium-ion battery production. [18] [27]

In October 2021, Farasis Energy announced it had achieved increased energy density with SCC55™ that would enable them to reach 330 Wh/kg in automotive cells with more than 1,000 charge-discharge cycles. [28] [29] [30]

In November 2021, Group14 announced a strategic partnership with StoreDot, revealing that SCC55™ combined with StoreDot’s extreme-fast charging (XFC) technology enabled an energy density of 300Wh/Kg with over 700 cycles capable of being charged 0%-80% in 10 minutes. [31] [32]

Group14 announced it earned ISO 9001 certification for its BAM-1 factory in Woodinville, Washington, in April 2023. [33]

Applications

In May 2022, Porsche AG announced plans to produce lithium-silicon battery cells with Group14's technology in Germany in 2024 to help power their electric vehicles. [8] [9] [11] [17] [34] [35]

In February 2023, Group14 announced it began commercial delivery of SCC55™ to Amperex Technology Limited (ATL) for use in smartphones. [10] In January 2024, Group14 announced that SCC55™ was in batteries for more than one million smartphones through its partnership with ATL. [10] [36]

In May 2024, Molicel announced it was utilizing SCC55™ to power its ultra-high-power P50B lithium-ion battery cells. [37]

Finance

To date, Group14 has received more than $650 million in financing. [38] [39] [40]

In November 2019, Group14 announced it raised $18 million from investors including BASF Venture Capital and OVP Venture Partners. [38] [41] In December 2020, South Korea’s SK materials led Group14’s $17M Series B round. [42] [43]

In May 2022, Group14 announced it raised $400 million in Series C funding led by Porsche AG with participation from OMERS Capital Markets, Decarbonization Partners, Riverstone Holdings LLC, Vsquared Ventures, Moore Strategic Ventures, and other large institutional investors. [8] [9] [11] [25] [44]Group14 announced it would leverage the funding to accelerate the development of its second U.S. factory to supply a minimum of 600,000 EVs annually. [45]

In December 2022, Group14 announced it raised $214 million in additional financing from a consortium of investors including Microsoft Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel to complete its total $614 million Series C round. [39] [40] [46]

In October 2022, Group14 announced it received $100 million as part of the Battery Materials Processing and Battery Manufacturing award from the US Department of Energy's Office of Manufacturing and Energy Supply Chains (MESC). [16] [47] [48]

  1. ^ a b https://www.group14.technology/
  2. ^ a b https://www.prnewswire.com/news-releases/group14-technologies-launches-commercial-manufacturing-factory-to-onshore-domestic-battery-supply-chain-301267417.html
  3. ^ https://www.prnewswire.com/news-releases/group14-technologies-begins-construction-of-the-worlds-largest-commercial-factory-for-advanced-silicon-battery-materials-301788910.html
  4. ^ a b c d e https://www.prnewswire.com/news-releases/group14-signs-agreements-with-five-leading-ev-and-ce-cell-manufacturers-supporting-global-electrification-efforts-302162657.html
  5. ^ a b https://www.prnewswire.com/news-releases/group14-technologies-announces-joint-venture-with-sk-materials-to-accelerate-global-dual-sourcing-for-lithium-silicon-battery-materials-301336806.html
  6. ^ a b https://www.prnewswire.com/news-releases/group14-technologies-accelerates-capability-to-meet-demand-in-asia-for-silicon-battery-technology-by-advancing-its-ip-leadership-302006852.html
  7. ^ a b https://www.prnewswire.com/news-releases/group14-technologies-commences-phase-i-expansion-into-europe-with-the-planned-restart-of-its-silane-manufacturing-factory-in-germany-301982551.html
  8. ^ a b c https://www.prnewswire.com/news-releases/porsche-ag-takes-the-lead-in-group14-technologies-400m-raise-to-accelerate-global-production-of-lithium-silicon-battery-materials-301539154.html
  9. ^ a b c https://newsroom.porsche.com/en/2022/company/porsche-group14-technologies-producer-battery-material-investment-28218.html
  10. ^ a b c https://www.prnewswire.com/news-releases/group14-technologies-enters-production-to-power-the-next-generation-of-smartphones-for-amperex-technology-limited-atl-301757185.html
  11. ^ a b c d https://www.reuters.com/business/autos-transportation/porsche-leads-400-million-investment-ev-battery-startup-group14-2022-05-04/
  12. ^ https://www.group14.technology/resources/perspectives/the-story-of-group14-technologies-the-journey-to-the-electrification-of-everything/
  13. ^ https://www.prweb.com/releases/energ2_announces_the_launch_of_group14_technologies/prweb13341605.htm
  14. ^ https://www.geekwire.com/2019/battery-startup-group14-technologies-raises-14m-make-materials-electric-cars/
  15. ^ https://electrek.co/2021/04/14/group14-announces-us-manufacturing-facility-to-produce-lithium-silicon-battery-materials/
  16. ^ a b https://www.geekwire.com/2022/group14-awarded-100m-by-dept-of-energy-as-part-of-effort-to-expand-u-s-battery-manufacturing/
  17. ^ a b https://www.fastcompany.com/91040975/group14-technologies-most-innovative-companies-2024
  18. ^ a b c https://www.axios.com/local/seattle/2024/04/02/group14-ev-battery-lithium-tech-washington
  19. ^ https://www.krem.com/article/money/economy/boomtown-inland-northwest/moses-lake-battery-factory-new-jobs-report/293-664e24b5-ca1f-4723-862b-b33184b6f911
  20. ^ https://www.geekwire.com/2023/first-look-renderings-of-the-worlds-largest-factory-for-advanced-silicon-battery-materials/
  21. ^ https://www.koreaherald.com/view.php?ud=20231217000101
  22. ^ https://www.group14.technology/resources/press-releases/group14s-silicon-battery-material-enables-breakthrough-power-and-charging-performance/
  23. ^ a b https://www.ft.com/content/d9640938-f177-485d-88f2-1ee1b7c306d9
  24. ^ https://www.king5.com/article/news/local/woodinville-company-revolutionizing-ev-batteries/281-9080e953-3f13-42dc-bda2-5248bd96cc1e
  25. ^ a b https://time.com/collection/best-inventions-2022/6228177/group14-scc55/
  26. ^ https://www.group14.technology/resources/whitepapers/whitepaper-the-transition-to-lithium-silicon-batteries/
  27. ^ https://www.fastcompany.com/91040975/group14-technologies-most-innovative-companies-2024
  28. ^ https://www.group14.technology/resources/press-releases/farasis-energy-reports-25-energy-boost-for-ev-batteries-with-scc55/
  29. ^ https://www.bloomberg.com/news/articles/2021-10-07/mercedes-backed-farasis-says-silicon-boosts-battery-energy-25?sref=7RiNpMF4
  30. ^ https://insideevs.com/news/539398/farasis-batteries-energy-density-boost/
  31. ^ https://www.prnewswire.com/news-releases/storedot-and-group14-technologies-partner-to-enhance-extreme-fast-charging-battery-technology-with-lithium-silicon-301428032.html
  32. ^ https://www.pcmag.com/news/is-this-black-powder-the-secret-solution-to-ev-charging-woes
  33. ^ https://www.prnewswire.com/news-releases/group14-technologies-fortifies-global-manufacturing-roadmap-for-silicon-battery-materials-with-iso-9001-certification-301795754.html
  34. ^ https://www.forbes.com/sites/greggardner/2022/05/04/group14-technologies-raises-400-from-porsche-led-investor-group/
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  36. ^ https://www.bloomberg.com/news/articles/2024-01-04/apple-supplier-tdk-bets-new-battery-will-change-smartphone-game?srnd=undefined&sref=7RiNpMF4
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  38. ^ a b https://www.group14.technology/about-us/
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  43. ^ https://www.builtinseattle.com/articles/group14-technologies-raises-17m-series-b
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  45. ^ https://finance.yahoo.com/video/electric-vehicles-entire-industry-transitioning-155131338.html
  46. ^ https://www.alleywatch.com/2023/01/global-startup-funding-top-largest-december-2022-vc/
  47. ^ https://www.prnewswire.com/news-releases/biden-administration-and-doe-award-100-million-to-group14-technologies-to-strengthen-us-supply-chain-for-advanced-battery-materials-manufacturing-301653867.html
  48. ^ https://www.group14.technology/resources/press-releases/group14-concludes-contract-for-100m-award-from-us-doe-to-accelerate-bam-2-construction/
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