Group14 lands $463M from SK, Porsche, and others to make silicon anodes for EVs

Battery Materials Startup Group 14 announced that it has closed $ 463 million to expand its production footprint, it is a sign that investors are confident in the future of electric vehicles.

Startup produces silicone anode materials, which increase the storage capacity of the lithium-ion battery significantly. Group 14 Currently three factories operate, two in the United States and one in South Korea.

Despite the headline about softening demand for electric vehicles, the global market is strong for lithium-ion batteries. In the next decade, it is expected to increase more than 15% annually, quintupling in size, Accordingly Priority research. And automaker and investors are still looking for companies working on technology that will make EVAs more efficient and affordable.

Round was led by battery manufacturer SK with the participation of ATL, Lightor, Microsoft, Microsoft PorscheAnd omers. In addition to the round, Group 14 also declared that it was “fully owned” of a joint venture with SK in South Korea, including its BAM3 factories. SK JV was owned by 75% of. Asked if JV transaction was included in the series D Tota, Group 14 spokesman Kristen Caron said that the company was not releasing any additional details about the round. “

Silicon has long been targeted as a possible replacement of graphite, today’s Go-to-anode material, as it can hold 10 times more electrons. However, with each charge and discharge, pure silicone anode has a growing tendency with the expand and contract, the graphite is something more resistant.

Startups like Group 14 and its contestant Sailor adjusting the tendency to swell silicone by creating a structure that puts silicon in place without leaving the overall integrity of the unod. The element of Group 14 is a scaffold with internal vuodes that contain the silicone, giving it a place to expand.

The material itself can be mixed with graphite or it can be replaced perfectly. Due to the inherent stability of the graphite, many companies still choose for the next. However, the more the silicone is used, the more energy can store a single cell. Group 14 says that its components can improve the energy density up to 50% and can spend the time charging below 10 minutes.