GROUP14 TECHNOLOGY

November 21, 2019

Battery Industry Leaders Invest $18 Million in Seattle Start-up: Group14 Technologies to Scale Li-ion Anode Material That Promises 30% Improvement in Energy and Cost

Battery Industry Leaders Invest $18 Million in Seattle Start-up: Group14 Technologies to Scale Li-ion Anode Material That Promises 30% Improvement in Energy and Cost

Seattle, Wash., November 21, 2019 01:00 ET — Group14 Technologies today announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners. The new funds will be used to scale up manufacturing of a next generation anode material and advance into commercial production.

“The participation of these industry leaders together is strong validation of our product’s performance, scalability, and strong intellectual property position, not to mention the enormous market opportunity,” said Rick Luebbe, Co-Founder and CEO, Group14 Technologies. “When the automotive industry is fully electrified, there will be a nearly trillion-dollar battery industry, 25 times bigger than today. Partnering with the most influential players in the space, we’ll be playing a significant role in making a fully-electrified automotive reality happen faster.”

Automotive icon, visionary and Group14 Board Member, Bob Lutz adds: “The opportunity to aggressively advance the electrification of the transportation system is right now. It is innovative materials that will create the greatest impact. Group14 Technologies will be one of the companies that helps to make electric vehicles widespread and ubiquitous.”

An Innovative Process Incorporating Silicon Into a Porous Carbon Framework

Group14 Technologies manufactures novel lithium-ion battery materials that boost battery performance. Unlike competing technologies, Group14’s materials are designed for low cost and “drop in” compatibility with existing lithium-ion battery production. Group14’s materials dramatically improve Li-ion battery costs and will help electric vehicles reach cost parity with internal combustion engine-powered cars.

Covered by extensive composition of matter and process patents, Group14 Technologies’ breakthrough is a novel, cost-effective process, which allows the company to combine nanostructured porous carbon with silicon to form a sponge-like composite. This structure provides high capacity and structural integrity through extended battery cycling.

“The lithium-ion battery industry is aggressively seeking higher performance anode materials to improve battery performance, and Group14’s silicon-carbon composite is uniquely positioned to fill that need,” said Henry “Rick” Costantino, Ph.D., Co-Founder and CTO, Group14 Technologies.

Adds Luebbe: “The electrification of the transportation system is a global infrastructure issue and opportunity. ATL, SDK, Cabot, BASF and OVP provide unmatched experience that will extend our materials footprint and our impact on the industry.”

“We have a strong interest in Group14 Technologies’ silicon-carbon composite as a high-performance anode material for next generation lithium ion batteries. This product’s high first cycle efficiency, exceptional cycle life, and drop-in compatibility with existing graphite anode processes and equipment will enable its rapid adoption.” said Joe Kit Chu Lam, Executive Vice-President of ATL.

Group14 Investor Overview:

ATL (Amperex Technologies Limited), based in Hong Kong with manufacturing operations in China, is a world’s leading producer and innovator of lithium-ion batteries. ATL is known worldwide for high-tech, high-volume prowess in developing, producing and packaging high quality rechargeable lithium-ion battery cells and packs. ATL primarily supplies batteries to cell phones, computers, and other consumer electronics.

BASF Venture Capital (BVC) was founded in 2001 and has offices in Europe, the U.S., China, India, Brazil and Israel. The aim of BVC is to generate new growth potential for BASF by investing in new companies and funds. The focus of investment is on chemical products and new materials, software and services as well as innovative and digital business models in the broader field of chemistry.

Cabot Corporation (NYSE: CBT) is a leading global specialty chemicals and performance materials company headquartered in Boston, Massachusetts, USA. Cabot Corporation has delivered innovative performance solutions to customers for over 135 years and is a leading provider of rubber and specialty carbons, fumed metal oxides, masterbatches and conductive compounds, activated carbon, inkjet colorants and inks, and aerogel.

OVP Venture Partners is one the Pacific Northwest’s original venture capital firms. OVP’s investing partner and board member in Group14 is Gerry Langeler.

Showa Denko (SDK), a leading Japanese materials company headquartered in Tokyo, produces graphite anode material, vapor grown carbon fiber, aluminum-laminate packaging material, anode binder, and other specialty materials for Li-ion batteries.

About Group14 Technologies

Founded in 2015 to enable the coming electrification of everything, Group14's battery materials breakthrough brings new levels of energy performance to lithium-ion-powered devices and vehicles. Recognized by the Department of Energy for its novel, drop-in ready nanomaterials and reliable industrial-scale process, Group14 serves the global transition to an all-electric future with tunable performance for any use case. Company investors include Amperex Technology Limited (ATL), BASF, Cabot Corporation, OVP Venture Partners, Showa Denko, and SK materials.

Seattle, Wash., November 21, 2019 01:00 ET — Group14 Technologies today announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners. The new funds will be used to scale up manufacturing of a next generation anode material and advance into commercial production.

“The participation of these industry leaders together is strong validation of our product’s performance, scalability, and strong intellectual property position, not to mention the enormous market opportunity,” said Rick Luebbe, Co-Founder and CEO, Group14 Technologies. “When the automotive industry is fully electrified, there will be a nearly trillion-dollar battery industry, 25 times bigger than today. Partnering with the most influential players in the space, we’ll be playing a significant role in making a fully-electrified automotive reality happen faster.”

Automotive icon, visionary and Group14 Board Member, Bob Lutz adds: “The opportunity to aggressively advance the electrification of the transportation system is right now. It is innovative materials that will create the greatest impact. Group14 Technologies will be one of the companies that helps to make electric vehicles widespread and ubiquitous.”

An Innovative Process Incorporating Silicon Into a Porous Carbon Framework

Group14 Technologies manufactures novel lithium-ion battery materials that boost battery performance. Unlike competing technologies, Group14’s materials are designed for low cost and “drop in” compatibility with existing lithium-ion battery production. Group14’s materials dramatically improve Li-ion battery costs and will help electric vehicles reach cost parity with internal combustion engine-powered cars.

Covered by extensive composition of matter and process patents, Group14 Technologies’ breakthrough is a novel, cost-effective process, which allows the company to combine nanostructured porous carbon with silicon to form a sponge-like composite. This structure provides high capacity and structural integrity through extended battery cycling.

“The lithium-ion battery industry is aggressively seeking higher performance anode materials to improve battery performance, and Group14’s silicon-carbon composite is uniquely positioned to fill that need,” said Henry “Rick” Costantino, Ph.D., Co-Founder and CTO, Group14 Technologies.

Adds Luebbe: “The electrification of the transportation system is a global infrastructure issue and opportunity. ATL, SDK, Cabot, BASF and OVP provide unmatched experience that will extend our materials footprint and our impact on the industry.”

“We have a strong interest in Group14 Technologies’ silicon-carbon composite as a high-performance anode material for next generation lithium ion batteries. This product’s high first cycle efficiency, exceptional cycle life, and drop-in compatibility with existing graphite anode processes and equipment will enable its rapid adoption.” said Joe Kit Chu Lam, Executive Vice-President of ATL.

Group14 Investor Overview:

ATL (Amperex Technologies Limited), based in Hong Kong with manufacturing operations in China, is a world’s leading producer and innovator of lithium-ion batteries. ATL is known worldwide for high-tech, high-volume prowess in developing, producing and packaging high quality rechargeable lithium-ion battery cells and packs. ATL primarily supplies batteries to cell phones, computers, and other consumer electronics.

BASF Venture Capital (BVC) was founded in 2001 and has offices in Europe, the U.S., China, India, Brazil and Israel. The aim of BVC is to generate new growth potential for BASF by investing in new companies and funds. The focus of investment is on chemical products and new materials, software and services as well as innovative and digital business models in the broader field of chemistry.

Cabot Corporation (NYSE: CBT) is a leading global specialty chemicals and performance materials company headquartered in Boston, Massachusetts, USA. Cabot Corporation has delivered innovative performance solutions to customers for over 135 years and is a leading provider of rubber and specialty carbons, fumed metal oxides, masterbatches and conductive compounds, activated carbon, inkjet colorants and inks, and aerogel.

OVP Venture Partners is one the Pacific Northwest’s original venture capital firms. OVP’s investing partner and board member in Group14 is Gerry Langeler.

Showa Denko (SDK), a leading Japanese materials company headquartered in Tokyo, produces graphite anode material, vapor grown carbon fiber, aluminum-laminate packaging material, anode binder, and other specialty materials for Li-ion batteries.

About Group14 Technologies

Founded in 2015 to enable the coming electrification of everything, Group14's battery materials breakthrough brings new levels of energy performance to lithium-ion-powered devices and vehicles. Recognized by the Department of Energy for its novel, drop-in ready nanomaterials and reliable industrial-scale process, Group14 serves the global transition to an all-electric future with tunable performance for any use case. Company investors include Amperex Technology Limited (ATL), BASF, Cabot Corporation, OVP Venture Partners, Showa Denko, and SK materials.

Related Posts

April 13, 2021

Group14 Launches Commercial Manufacturing Factory to Onshore Domestic Battery Supply Chain

The new commercial-scale 27,000-square foot U.S. manufacturing factory to meet demand for higher-performing lithium-silicon anode materials. The new factory, located at Group14 HQ in Woodinville, Washington, also will house a new world-class R&D center, corporate offices, and serves as the first of several planned commercial manufacturing sites that will solidify the company as a global leader in advanced energy storage technologies.

The new commercial-scale 27,000-square foot U.S. manufacturing factory to meet demand for higher-performing lithium-silicon anode materials. The new factory, located at Group14 HQ in Woodinville, Washington, also will house a new world-class R&D center, corporate offices, and serves as the first of several planned commercial manufacturing sites that will solidify the company as a global leader in advanced energy storage technologies.

December 21, 2020

Group14 Technologies Secures $17 Million Series B to Scale Production of Lithium-Silicon Battery Technology

Led by South Korea's SK materials, the investment highlights growing global demand for high-performance, sustainably-sourced battery materials. Group14 will leverage this operating capital to scale production to meet the increasing demand for its flagship product SCC55™, which affords up to 50% more energy density than conventional graphite for lithium-ion batteries.

Led by South Korea's SK materials, the investment highlights growing global demand for high-performance, sustainably-sourced battery materials. Group14 will leverage this operating capital to scale production to meet the increasing demand for its flagship product SCC55™, which affords up to 50% more energy density than conventional graphite for lithium-ion batteries.

October 13, 2020

Group14 and REC Silicon Announce U.S. Anode Factory to Meet Demand for the ‘Electrification of Everything’

Washington plant marks the rise of the Pacific Northwest as a lithium-ion supply chain hub. The large-scale commercial facility will be the first and largest silicon-carbon anode material plant globally that will enable lithium-silicon batteries and accelerate the electrification of everything. The facility will be powered by clean hydro-electric power and has been designed to be carbon-neutral.

Washington plant marks the rise of the Pacific Northwest as a lithium-ion supply chain hub. The large-scale commercial facility will be the first and largest silicon-carbon anode material plant globally that will enable lithium-silicon batteries and accelerate the electrification of everything. The facility will be powered by clean hydro-electric power and has been designed to be carbon-neutral.

November 21, 2019

Battery Industry Leaders Invest $18 Million in Group14 to Scale Li-ion Anode Materials

Announcing $18 million in new financing from Amperex Technologies Limited, Showa Denko, Cabot Corporation, BASF Venture Capital, and OVP Venture Partners, the new funds will be used to scale up manufacturing of a next generation anode material and advance into commercial production. The participation of these industry leaders together is strong validation of Group14's performance, scalability, and strong intellectual property position, not to mention the enormous market opportunity.

Announcing $18 million in new financing from Amperex Technologies Limited, Showa Denko, Cabot Corporation, BASF Venture Capital, and OVP Venture Partners, the new funds will be used to scale up manufacturing of a next generation anode material and advance into commercial production. The participation of these industry leaders together is strong validation of Group14's performance, scalability, and strong intellectual property position, not to mention the enormous market opportunity.

GROUP14 TECHNOLOGIES

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