Series D extension from a new, undisclosed investor takes the funding above $665 million.
Group14 Technologies, a Washington state-based maker of silicon battery materials, has raised €150 million (about $169 million) in a Series D equity extension. The company has selected Sagunto, Spain, for its next manufacturing plant
The funding came from a new investor that Group14 did not name. The extension lifts the Series D round to more than $665 million, according to the company. Group14 did not disclose the plant’s total cost.
The planned facility named BAM-4, will have an initial capacity of 10 gigawatt-hours (GWh) and will make SCC55, Group14’s silicon-carbon battery material. Sagunto is near Valencia. Group14 said the investment will support its expansion into Europe and bring SCC55 production closer to the region’s automotive supply chains.
Spain site adds to South Korea and Washington capacity
With BAM-4, Group14’s near-term manufacturing capacity would reach 40 GWh, the company said. The total includes one 10 GWh module at BAM-3 in Sangju, South Korea, which is operating and being scaled up. It also includes two modules at BAM-2 in Moses Lake, Washington, totalling 20 GWh.
The company expects BAM-2 to come online in the first half of 2027.
Group14 has operated BAM-1, a commercial facility in Woodinville, Washington, since 2021. It has supplied SCC55 to more than 150 customers from the site. The company also aims to deploy hundreds of gigawatt-hours of manufacturing capacity over the next decade.
Why Group14 chose Spain
Group14 said Spain is Europe’s second-largest automotive manufacturing country, and that a base there places its materials next to key European automaker supply chains. The company called itself the most geographically dispersed silicon battery material producer in the world, with operations across North America, Asia and Europe. This helps the company protect supply chains from regional disruptions, speeds time to market and allows local support for customers.
“To truly transform the energy economy, battery material producers must be located where the batteries are made,” said Rick Luebbe, CEO and co-founder of Group14. “Our expansion into Spain reflects our vision: staying nimble, building near key customer hubs, and maintaining secure, localized supply chains.”
Luebbe said BAM-4 would support the company’s European expansion while it continues to grow its manufacturing operations in the U.S. and Asia.
Broader expansion and demand
Group14 stated the capital will also support global expansion of its manufacturing capacity to meet demand from automotive, consumer electronics, data center, aerospace and defense manufacturers. It said SCC55 is already in use in smartphones, drones, hypercars and eVTOL aircraft, and that its technology is backed by more than 200 patents.
The company says it supports customers that account for more than 95% of global lithium-ion battery production.
