Group14 Technologies, a manufacturer of silicon-anode battery technology, raised $463 million in a Series D funding, led by SK Inc., with participation from existing investors such as Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, Microsoft Climate Innovation Fund, and others. Following the Series D financing, Group14 has surpassed $1 billion in total equity raised to accelerate its global growth strategy.
The new capital will be used to scale up production of Group14’s silicon battery material, SCC55, in both the U.S. and South Korea, aiming to tackle the growing global demand for energy storage solutions.
In addition, Group14 has taken full ownership of its joint venture with SK Inc. in Sangju, South Korea. Established in 2021, the joint venture operates a battery active materials (BAM) factory dedicated to manufacturing SCC55.
The company’s third commercial BAM facility, BAM-3, is strategically positioned in Asia, while its first two BAM plants are based in Washington state. In addition, Group14 is expanding its silicon battery infrastructure in Europe with the development of a silane gas facility in Germany.
“This is a defining moment for Group14 and a clear signal that the future of high-performance energy storage, powered by our silicon battery material, is already here,” said Rick Luebbe, CEO and Co-Founder of Group14. “We’re strengthening regional battery supply chains and safeguarding our customers from global trade uncertainty.”
In 2023, the company raised $34.3 million from ShawKwei & Partners, an Asian private equity investor.
According to Mercom’s 1H and Q2 2025 Funding and M&A Report for Energy Storage, VC funding for Energy Storage companies in 1H 2025 came to $1.7 billion in 36 deals, a 29% decrease YoY compared to $2.4 billion in 48 deals in 1H 2024.
In July, Lyten, a lithium-sulfur battery manufacturer, secured over $200 million in additional equity investment, bringing the total investment in Lyten to more than $625 million. The company’s existing investors primarily provided the extra funding.
