Analysis
Group14 Technologies has closed a €150 million, or approximately $169 million, Series D extension to build its next large-scale manufacturing plant, called BAM-4, in Sagunto, Spain, the company said, as Pulse2.com reported on October 30, 2026. The funding came from a single new, undisclosed investor, according to that report -- a detail not independently confirmed by a second source, so the figure should be treated as reported rather than fully verified ahead of any company confirmation.
What Group14 does
Group14 makes SCC55, a silicon-carbon battery material designed to raise energy density and charging speed in lithium-ion batteries, for use in smartphones, drones, hypercars and electric vertical takeoff and landing aircraft. Co-founders Rick Luebbe (CEO) and Dr. Rick Costantino started the company after identifying a need for better energy-storage materials, and it operates a commercial pilot plant, BAM-1, in Woodinville, Washington, running since 2021. "To truly transform the energy economy, battery material producers must be located where the batteries are made," Luebbe said of the Spain expansion, according to Pulse2's reporting. "Our expansion into Spain reflects our vision: staying nimble, building near key customer hubs," he added.
Group14's funding history
This extension follows a $463 million Series D led by SK Inc. that closed in August 2025, with participation from Porsche Investments, ATL, OMERS, Decarbonization Partners, the Lightrock Climate Impact Fund and the Microsoft Climate Innovation Fund, according to Mercom Capital's reporting on that round.
“Before that Series D, Group14 had raised a $614 million Series C led by Porsche AG and an earlier round from ShawKwei & Partners, an Asian private equity investor.”
Before that Series D, Group14 had raised a $614 million Series C led by Porsche AG and an earlier round from ShawKwei & Partners, an Asian private equity investor. Combined, Group14 says it has now raised more than $1 billion in total equity across all of its rounds.
Who invested in Group14
SK Inc. led the $463 million Series D, with Porsche Investments, ATL, OMERS, Decarbonization Partners and climate-focused funds from Lightrock and Microsoft returning as participants. Porsche AG separately led the earlier $614 million Series C, making the German automaker one of Group14's longest-standing strategic backers. The new Series D extension investor has not been named publicly.
Silicon battery materials and manufacturing scale
Group14 says it has delivered SCC55 to more than 150 customers whose combined battery output represents over 95% of global lithium-ion battery production, and the company holds more than 200 patents on the material. Its manufacturing footprint already spans BAM-1 in Woodinville, Washington; BAM-2 in Moses Lake, Washington, with two modules totaling about 20 GWh expected online during 2027; and BAM-3 in Sangju, South Korea, a 10 GWh module currently scaling production. BAM-4 in Sagunto will add roughly 10 GWh of initial annual capacity, pushing Group14's near-term footprint toward about 40 GWh, with plans to deploy hundreds of GWh over the next decade.
What to watch next
Group14 has not disclosed a specific timeline for BAM-4 beyond the initial 10 GWh figure, and the identity of the new investor funding this extension remains undisclosed -- a gap worth watching given how much of Group14's prior funding came from named strategic investors like Porsche and SK Inc. Whether the company names this investor, and whether BAM-4 construction stays on pace with the BAM-2 and BAM-3 timelines, will be the next signal on whether Group14 can convert its customer concentration into manufacturing scale fast enough to matter, as Pulse's funding tracker shows deep-tech and climate-tech rounds piling up this year.