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7h ago

Group14 Raises $463 Million and Takes Full Ownership of South Korea Factory to Scale Silicon Anodes

The move targets faster SCC55 output despite recent delays at Moses Lake.

An electric vehicle charging location is shown from the view of a drone in Carlsbad, California, U.S., May 14, 2025. REUTERS/Mike Blake/File Photo
Group14 has delayed the start of production of its battery materials at its BAM2 facility in Moses Lake. (Group14 Photo)
Close-up view of an assembly line for electric vehicle battery cells in a modern factory, showcasing detailed machinery.
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Overview

  • SK led the Series D, joined by Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund and Microsoft Climate Innovation Fund, lifting Group14’s total equity raised above $1 billion.
  • The company bought SK’s remaining 75% stake in their Sangju joint venture, gaining sole ownership of the BAM-3 factory and now fully owning three BAM sites including two in Washington.
  • Proceeds will expand SCC55 manufacturing in the U.S. and South Korea to bolster regional battery supply resilience and meet rising demand.
  • Group14 reports roughly 150 customers for SCC55, including investor Porsche, with commercial deliveries from the Sangju plant underway since September 2024 and ATL using the material in millions of smartphone batteries.
  • Recent headwinds include layoffs and a delay pushing Moses Lake (BAM-2) production to early 2026, even as the company markets SCC55 for higher energy density and faster charging.