Group14 obtains, leverages new investments
Group14 has obtained additional investment funds and has acquired full ownership of its South Korea facility. Work continues on the company’s facility in Moses Lake. The photo above shows a temporary facility at the company's Moses Lake facility in 2023. Since then, the local plant has evolved significantly.
FILE PHOTO
WOODINVILLE — The owners of Group14 Technologies have announced the company has acquired full ownership of its facility in South Korea. The company also obtained additional funding from the previous co-owner of the South Korea property and other investors, according to a company press release.
The company received $436 million from a group of investors led by SK Inc., which had owned 75% of Group14’s South Korea facility. That facility opened in September 2024.
The company also has a facility under construction in Moses Lake; the pace of construction was slowed down this spring, and an undisclosed number of employees were laid off June 1. Moses Lake manager Don Kersey said in June that the company will continue with the local project, with the goal of starting production in early 2026.
Group14 manufactures silicon-based battery components.
Group14 has raised more than $1 billion in funding, and Rick Lubbe, co-founder and chief executive officer, said it’s a sign that better batteries are in demand.
“Despite a tough macro environment, investors are doubling down on Group14’s role in shaping the future of energy storage,” he said in a statement. “Their continued support underscores their conviction in our technology and recognition of the global demand for silicon batteries we’re already seeing.”
The company is also building a silane gas facility in Germany, which is part of Group14’s strategy to diversify the supply of materials used to make its components, the press release said. Lubbe said in his statement that Group14’s components reduce reliance on a single source of supply for a critical battery part.
“With over 90% of anode-grade graphite coming from China, the vulnerability is clear. Our silicon battery material gives manufacturers a high-performance alternative that helps derisk the supply chain,” he said.