GROUP14 TECHNOLOGY

December 21, 2020

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

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

WOODINVILLE, Wash., December 21, 2020, 07:00 ET — Group14 Technologies, a global provider of silicon-carbon composite materials for lithium-ion markets, today announced it has secured $17 million in Series B funding led by SK materials, one of the world's top manufacturers of special gases and industrial gases, with participation from returning investor OVP Venture Partners. 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.

"In our role as one of the world's largest global manufacturers, we are constantly searching for promising companies with patented breakthrough technologies to stay ahead of the demand," said Lee Young Wook, CEO of SK materials. "Group14's innovative battery material chemistry maximizes high-quality production at cost, and we are excited to invest in a strong team with an exceptional growth trajectory to meet increasing global demand for a wide range of powerful and flexible storage solutions."

A leader in battery storage technology, Group14 recently announced plans to break ground on its new hydroelectric powered production facility in Moses Lake, Washington. The facility highlights the company's first steps to build out a domestic lithium-ion battery supply chain to meet growing demand from the electric vehicle market. Group14's breakthrough lithium-silicon technology, SCC55™, promises to deliver dramatically more energy density per volume to meet the increasing global demand for high-performing lithium-ion-based storage. Group14 has begun ramping up its pilot production and plans to supply its first commercial customers in consumer electronics in 1Q21, with more to follow in other markets.

Investments led by strategic players in the global lithium-ion landscape have been pivotal to the company's continued growth and demand. Group14's earlier financing was led by global battery leaders including Amperex Technology Limited (ATL), the largest producer of lithium-ion batteries for consumer electronics; Showa Denko, a Japanese materials company and the largest producer of graphite; Cabot Corporation, the leading producer of conductive additives; and BASF, the world's largest chemical producer.

"The investment by industry leaders such as SK materials, a long-time strategic manufacturing giant, is strong validation that Group14's next-generation lithium-silicon battery material technology has the potential to redefine the capabilities of battery technology," said Rick Luebbe, CEO of Group14 Technologies. "The battery is at the cornerstone of everything from electronics to electric vehicles, and we look forward to continuing to push the boundaries of battery storage to enable the electrification of everything."

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.

About SK materials

SK materials Co Ltd is a Korea-based company engaged in the manufacture and sale of special gas and industrial gas. The company is engaged in the manufacturing business of special gases used in the manufacturing process of semiconductors and display panels, and the industrial gas manufacturing business that produces oxygen, nitrogen, argon, and carbon dioxide gases. The company produces nitrogen trifluoride (NF3), which is injected to remove any residues on the internal walls of chemical vapor deposition (CVD) chamber; silane (SiH4), which is used to deposit silicon on wafer in semiconductors and to deposit silicon on TFT on top of glass substrates for TFT-LCD; tungsten hexafluoride (WF6), which makes contact plugs during CVD process, as well as dichlorosilane (DCS), which is silicon precursor gas used in combination with ammonia for SiH4 CVD and for deposition of epitaxial silicon.

WOODINVILLE, Wash., December 21, 2020, 07:00 ET — Group14 Technologies, a global provider of silicon-carbon composite materials for lithium-ion markets, today announced it has secured $17 million in Series B funding led by SK materials, one of the world's top manufacturers of special gases and industrial gases, with participation from returning investor OVP Venture Partners. 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.

"In our role as one of the world's largest global manufacturers, we are constantly searching for promising companies with patented breakthrough technologies to stay ahead of the demand," said Lee Young Wook, CEO of SK materials. "Group14's innovative battery material chemistry maximizes high-quality production at cost, and we are excited to invest in a strong team with an exceptional growth trajectory to meet increasing global demand for a wide range of powerful and flexible storage solutions."

A leader in battery storage technology, Group14 recently announced plans to break ground on its new hydroelectric powered production facility in Moses Lake, Washington. The facility highlights the company's first steps to build out a domestic lithium-ion battery supply chain to meet growing demand from the electric vehicle market. Group14's breakthrough lithium-silicon technology, SCC55™, promises to deliver dramatically more energy density per volume to meet the increasing global demand for high-performing lithium-ion-based storage. Group14 has begun ramping up its pilot production and plans to supply its first commercial customers in consumer electronics in 1Q21, with more to follow in other markets.

Investments led by strategic players in the global lithium-ion landscape have been pivotal to the company's continued growth and demand. Group14's earlier financing was led by global battery leaders including Amperex Technology Limited (ATL), the largest producer of lithium-ion batteries for consumer electronics; Showa Denko, a Japanese materials company and the largest producer of graphite; Cabot Corporation, the leading producer of conductive additives; and BASF, the world's largest chemical producer.

"The investment by industry leaders such as SK materials, a long-time strategic manufacturing giant, is strong validation that Group14's next-generation lithium-silicon battery material technology has the potential to redefine the capabilities of battery technology," said Rick Luebbe, CEO of Group14 Technologies. "The battery is at the cornerstone of everything from electronics to electric vehicles, and we look forward to continuing to push the boundaries of battery storage to enable the electrification of everything."

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.

About SK materials

SK materials Co Ltd is a Korea-based company engaged in the manufacture and sale of special gas and industrial gas. The company is engaged in the manufacturing business of special gases used in the manufacturing process of semiconductors and display panels, and the industrial gas manufacturing business that produces oxygen, nitrogen, argon, and carbon dioxide gases. The company produces nitrogen trifluoride (NF3), which is injected to remove any residues on the internal walls of chemical vapor deposition (CVD) chamber; silane (SiH4), which is used to deposit silicon on wafer in semiconductors and to deposit silicon on TFT on top of glass substrates for TFT-LCD; tungsten hexafluoride (WF6), which makes contact plugs during CVD process, as well as dichlorosilane (DCS), which is silicon precursor gas used in combination with ammonia for SiH4 CVD and for deposition of epitaxial silicon.

MORE ARTICLES

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.

September 01, 2020

DOE Selects Group14 in Energy Storage Grand Challenge to Crack Commercial Hurdles for Lithium-Ion Future

Materials technology breakthrough, Scaffold Prime™, enables 30-50% density increase with silicon-carbon, tunable battery materials for the electrification of everything megatrend. Group14 leading $5 million project to integrate best-in-class synergistic technologies to achieve a revolution in lithium-ion battery performance. Initial markets include electric vehicles, consumer electronics, medical devices and aerospace.

Materials technology breakthrough, Scaffold Prime™, enables 30-50% density increase with silicon-carbon, tunable battery materials for the electrification of everything megatrend. Group14 leading $5 million project to integrate best-in-class synergistic technologies to achieve a revolution in lithium-ion battery performance. Initial markets include electric vehicles, consumer electronics, medical devices and aerospace.

April 14, 2016

EnerG2 Announces the Launch of Group14 Technologies

Independent spin-off company will commercialize cost-effective advanced silicon-carbon composite anode materials for lithium-ion batteries. Group14 will manufacture silicon-carbon anode materials with increased energy capacity compared to currently available materials while maintaining the low cost and high cycle life of graphite. The U.S. Department of Energy (DOE) is supporting the project with a $2.8 million grant.

Independent spin-off company will commercialize cost-effective advanced silicon-carbon composite anode materials for lithium-ion batteries. Group14 will manufacture silicon-carbon anode materials with increased energy capacity compared to currently available materials while maintaining the low cost and high cycle life of graphite. The U.S. Department of Energy (DOE) is supporting the project with a $2.8 million grant.

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