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

Group14, a battery materials startup, has secured a $463 million Series D funding round led by SK, Porsche, and other investors. The funding will be used to expand the company's manufacturing capabilities, allowing it to produce more silicon anodes for electric vehicles (EVs). Notably, the company has also bought out its partner SK's stake in their joint venture, giving Group14 full control over the operation. This move suggests the startup's confidence in its technology and its ability to capitalize on the growing demand for advanced battery materials in the EV market. The silicon anode technology developed by Group14 is designed to improve the energy density and charging speed of lithium-ion batteries, which are crucial for the performance and range of EVs. With the new funding and the acquisition of the joint venture, Group14 aims to become a leading supplier of these innovative battery components to major automakers and battery manufacturers.