Group14 Lands $463m From Sk, Porsche, And Others To Make Silicon Anodes For Evs

Battery materials startup Group14 announced Wednesday it has closed a $463 cardinal backing information to grow its manufacturing footprint, a motion that investors stay assured successful nan early of electrical vehicles.

The startup manufactures silicon anode materials, which importantly boost nan retention capacity of lithium-ion batteries. Group14 presently operates 3 factories, 2 successful nan U.S. and 1 successful South Korea.

Despite headlines astir softening request maturation for electrical vehicles, nan world marketplace for lithium-ion batteries remains strong. Over nan adjacent decade, its expected to turn much than 15% annually, quintupling successful size, according to Precedence Research. And automakers and investors are still successful pursuit of companies moving connected exertion that will make EVs much businesslike and affordable.

The information was led by artillery shaper SK pinch information from ATL, Lightrock, Microsoft, Porsche, and OMERS. Alongside nan round, Group14 besides announced it had “acquired afloat ownership” of a associated task pinch SK successful South Korea, which includes its BAM 3 factory. SK had owned 75% of nan JV. When asked whether nan worth of nan JV transaction was included successful nan Series D total, Group14 spokesperson Kristen Caron said nan institution was “not disclosing immoderate further specifications astir nan round.”

Silicon has agelong been targeted arsenic a imaginable replacement for graphite, today’s go-to anode material, because it tin clasp up to 10 times much electrons. But pinch each complaint and discharge, axenic silicon anodes person a inclination to crumble arsenic nan worldly expands and contracts, thing that graphite is much resistant to.

Startups for illustration Group14 and its competitor Sila person accommodated silicon’s propensity to swell by creating structures that support silicon successful spot without sacrificing nan anode’s wide integrity. Group14’s worldly is simply a scaffold pinch soul voids that clasp nan silicon, giving it room to expand. 

The worldly itself tin beryllium blended pinch graphite aliases switch it entirely. Many companies still opt for nan second because of graphite’s inherent stability. But nan much silicon used, nan much power a azygous compartment tin store. Group14 says its worldly tin amended power density by up to 50% and trim fast-charging times beneath 10 minutes.

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