Group14 Secures $463 Million in Series D Funding, Acquires 100% Ownership of BAM Factory in South Korea from SK, Inc.

Group14 Technologies, a developer and manufacturer of advanced silicon battery materials, led by Rick Luebbe, Rick Costantino, Mike Willis, Chris Piercy, and others, secured $463 million in Series D funding led by SK, Inc., with strong participation of other existing investors, including Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, Microsoft Climate Innovation Fund, and others. With its Series D round, Group14 has now raised over US$1B in equity to fuel its growth.

The funds will boost SCC55 production in the U.S. and South Korea to meet the rising global demand for energy storage. Group14 also acquired full ownership of its Sangju-based joint venture with SK Inc., established in 2021 to produce SCC55 at EV scale for the global battery market.

As Group14’s third BAM facility, BAM-3 is strategically located in Asia and began SCC55 deliveries in September 2024 to over 100 EV and electronics battery makers worldwide. Group14’s first two BAM factories are in Washington state. The company is also expanding in Europe with a cutting-edge silane gas facility in Germany to supply a key precursor for next-gen energy storage.