Group14 Closes €150M Series D Extension for Spain Battery Plant

Group14 Technologies has closed a €150 million (approximately $169 million) Series D equity extension and committed to building its third large-scale battery materials factory in Sagunto, Spain, the Woodinville, Washington-based silicon battery materials manufacturer announced on October 29, 2026. The funding came from a new investor the company did not name and increases Group14’s Series D round to more than $665 million, according to the announcement.

As part of the funding, Group14 said it will expand production of its flagship SCC55 silicon battery material into Europe, selecting Sagunto for its next industrial-scale manufacturing module with an initial capacity of 10 gigawatt-hours. The site, designated BAM-4, will be the company’s third large-scale Battery Active Materials factory.

Manufacturing Footprint

BAM-4 will bring Group14’s total near-term manufacturing footprint to 40 GWh of capacity, the company said. That total includes one module at BAM-3 in Sangju, South Korea (10 GWh), which is operational and scaling, and two modules at BAM-2 in Moses Lake, Washington (20 GWh), which are expected to start producing in 2027; a summary in the release states BAM-2 is expected to come online in the first half of 2027. Group14 has also operated a commercial-pilot facility in Woodinville, designated BAM-1, since 2021, from which it has delivered SCC55 to more than 150 customers. The company said its longer-term vision is to deploy hundreds of gigawatt-hours of manufacturing capacity over the next decade.

By establishing an operational base in Spain, which it describes as Europe’s second-largest automotive manufacturing country, Group14 said it is placing battery materials production directly adjacent to key European automotive supply chains. The company characterized the expansion as cementing its position as the most geographically dispersed silicon battery material producer in the world.

“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. “The launch of BAM-4 gives us the springboard to accelerate our European footprint while simultaneously propelling our global growth trajectory across the U.S. and Asia.”

While the €150 million investment anchors the European foothold, Group14 said the capital serves as a broader strategic catalyst for scaling manufacturing capacity to meet demand from automotive, consumer electronics, datacenter, aerospace, and defense manufacturers. The company said its technology is backed by a global patent portfolio of more than 200 patents and that SCC55 has gained commercial traction in applications including smartphones, drones, hypercars, and eVTOLs.

Series D History and Korea Operations

The extension follows the original Series D close on August 20, 2025, a US$463 million round led by SK, Inc. with participation from Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, Microsoft Climate Innovation Fund, and others, according to the company’s earlier announcement. Those funds were designated to scale SCC55 manufacturing in the United States and South Korea. At the same time, Group14 acquired full ownership of the Sangju joint venture it formed with SK in 2021, taking direct control of production of its silicon battery material in Asia. BAM-3 began delivering SCC55 in September 2024 to more than 100 electric vehicle and consumer electronics battery manufacturing customers, the earlier release states. Following the 2025 round, Group14 said it had raised more than US$1 billion in equity. The company has also said it is expanding silicon battery infrastructure in Europe with a silane gas factory in Germany that will supply a critical precursor material.

Group14 announced on March 12, 2026 that the Sangju factory had begun EV-scale production. That facility is designed to produce up to 2,000 metric tons of SCC55 annually, enabling 10 GWh of battery capacity as production ramps, and the company said at the time that its factories were delivering to more than 160 customers worldwide. SCC55 is compatible with LFP, LMFP, and high-nickel cell formats and chemistries, according to the company.

Group14 reports that SCC55 has demonstrated cycle life of 1,500 to 3,000 charge cycles while retaining 80% capacity. Rick Costantino, the company’s chief technology officer and co-founder, said in the March announcement that customers building cells with SCC55 reported reaching a 0-100% recharge in 90 seconds and other designs achieving a boost of more than 43% in energy density. SCC55 is incorporated in commercial battery programs with ATL, Molicel, Sionic Energy, InoBat, and V4Smart, the company said. Group14 also states that one ton of SCC55 can replace approximately five tons of graphite and that China produces more than 90% of the world’s graphite-based anodes.