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Group14 lands $463M from SK, Porsche, and others to make silicon anodes for EVs
The battery materials startup raised significant Series D funding to expand its manufacturing capability. At the same time, it bought out partner SK's stake in a joint venture.
Battery materials startup Group14 announced Wednesday it has closed a $463 million funding round to expand its manufacturing footprint, a sign that investors remain confident in the future of electric vehicles. Alongside the round, Group14 also announced it had “acquired full ownership” of a joint venture with SK in South Korea, which includes its BAM 3 factory. When asked whether the value of the JV transaction was included in the Series D total, Group14 spokesperson Kristen Caron said the company was “not disclosing any additional details about the round.”
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