List of investors and stakeholder of Group14
- Porsche Automobile Holding SE (OTC: POAHY),
- Riverstone Holdings Ltd (OTC: REVSF),
- A joint venture between BlackRock, Inc (NYSE: BLK) and Singapore state-owned investor Temasek Holdings Ltd.
- A consortium including Microsoft Corp’s (NASDAQ: MSFT) Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel.
- Group14 Technologies, a global manufacturer and supplier of advanced silicon battery technology, raised $214 million in additional financing from a consortium including Microsoft Corp’s (NASDAQ: MSFT) Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel.
- The latest financing brings Group14’s Series C round to $614 million.
- “Batteries are becoming the backbone of the clean energy transition,” said Brandon Middaugh, Director of Microsoft’s Climate Innovation Fund.
- The battery startup, valued at over $3 billion, won a $100 million grant from the U.S. Energy Department through the 2021 infrastructure bill, the Wall Street Journal reports.
- It raised $400 million earlier this year from investors including Porsche Automobile Holding SE (OTC: POAHY), Riverstone Holdings Ltd (OTC: REVSF), and a joint venture between BlackRock, Inc (NYSE: BLK) and Singapore state-owned investor Temasek Holdings Ltd.
- Group 14 says its silicon anode material is more efficient than existing graphite technology, potentially fueling more powerful batteries for automakers like Porsche.
- Group14 says its existing commercial factory in Washington led ahead of Sila Nanotechnologies Inc, Enovix Corp (NASDAQ: ENVX), and Amprius Technologies, Inc (NYSE: AMPX).
- Group14 plans to use the new funding to accelerate the development of a larger manufacturing facility in central Washington that will produce material for batteries capable of powering at least 100,000 electric cars.
- Group14’s material can easily replace or work alongside graphite, allowing it to be integrated into the existing battery supply chain, which should help the company grow more quickly, Middaugh said.