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					</table><p>Global manufacturer of advanced silicon battery technology <a href="https://group14.technology/en/" target="_blank" rel="noopener">Group14 Technologies</a> said it has raised $214 million in additional financing and completed its $614 million series C funding round.</p>
<p>The additional financing <a href="https://mercomindia.com/funding-and-ma-roundup-group14-series-c-funding/" target="_blank" rel="noopener">follows</a> the company’s $400 million Series C funding announced in May 2022.</p>
<p>A consortium of <a href="https://www.microsoft.com/en-us/corporate-responsibility/sustainability/climate-innovation-fund" target="_blank" rel="noopener">Microsoft’s Climate Innovation Fund</a>, <a href="https://www.lightrock.com/" target="_blank" rel="noopener">Lightrock</a>’s Climate Impact Fund, <a href="https://www.moore-ventures.com/the-team" target="_blank" rel="noopener">Moore Strategic Ventures</a>, <a href="https://oia.gov.om/Index.php?r=en%2Fsite%2Findex" target="_blank" rel="noopener">Oman Investment Authority</a>, and <a href="https://www.molicel.com/" target="_blank" rel="noopener">Molicel</a> provided the finance.</p>
<p>Brandon Middaugh, Director of Microsoft&#8217;s Climate Innovation Fund said, &#8220;Group14&#8217;s technology shows strong potential to accelerate decarbonization of transportation, electronics, energy storage, and beyond.&#8221;</p>
<p>The funding is supplemented by a $100 million grant award by the U.S. government’s Department of Energy (<a href="https://www.energy.gov/" target="_blank" rel="noopener">DOE</a>).</p>
<p>The grant was announced in October 2022 to fund the buildout of Group14&#8217;s Battery Active Materials (BAM-2) factory in Moses Lake, Washington</p>
<p>&#8220;It comes down to shortening the path to market for OEMs so we can meet EV demand today,&#8221; said Rick Luebbe, CEO &amp; Co-Founder of Group14.</p>
<p>The company said its series C round represents one of the top 10 largest financings in the climate tech sector for the year 2022, according to Pitchbook.</p>
<p>Market-ready and transformational battery technology to power electrification is increasingly coming into demand. It has elicited interest from strategic, financial, and impact investors in commercial manufacturers of silicon battery technology.</p>
<p>Group14 is building BAM factories globally to address the rapidly growing demand from global battery manufacturers and automotive original equipment manufacturers (OEMs).</p>
<p>The company said these facilities could produce commercial-scale quantities of advanced silicon battery technology that delivers better performance than traditional lithium-ion batteries.</p>
<p>Group14 currently operates a commercial-scale battery active materials (BAM) factory in Woodinville, Washington, with two additional forthcoming factories — a joint venture factory with SK, Inc. in South Korea and a second U.S. factory.</p>
<p>According to Mercom&#8217;s <a href="https://mercomcapital.com/product/9m-q3-2022-funding-ma-report-for-storage-grid-efficiency/" target="_blank" rel="noopener">9M and Q3 2022 Funding and M&amp;A report for storage, grid &amp; efficiency</a>, VC funding in storage in 9M 2022 fell by over 44%, with $4 billion in 73 deals compared to $7.2 billion in 60 deals in 9M 2021.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Battery Tech Company Group14 Completes $614 Million Series C Funding Round

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