Lithium-silicon battery materials developer Group14 Technologies has secured $17 million in Series B funding led by South Korean manufacturing giant SK Materials.
The company will use the cash to scale-up production to meet increasing demand for its flagship product SCC55— a hard carbon-based anode material for lithium-ion batteries.
The investment comes two month after the firm announced just after Group14 announced a hydro-powered production facility co-located at REC Silicon in Washington, US.
The production plant will eventually make upwards of 750,000 silicon anodes a year for rechargeable batteries.
Group14’s technology has been backed by companies such as: ATL, Showa Denko, Cabot, and BASF.