Group14 Technologies closed a $463 million Series D financing round and acquired full ownership of its battery materials factory in South Korea, positioning itself for growth in the EV market.

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Group14 Technologies is a leading innovator in advanced silicon battery materials, recognized globally for its contributions to the energy storage sector. Recently, the company successfully closed a significant $463 million Series D financing round, principally led by SK, Inc. Alongside this financial achievement, Group14 secured complete ownership of its joint venture facility with SK, Inc. in Sangju, South Korea, which had been formed in 2021. This facility is dedicated to the production of Group14's flagship technology, SCC55, aimed at supporting the electric vehicle (EV) industry's battery manufacturing needs.

This strategic move not only enhances Group14's operational capabilities but also fortifies its position within the battery materials market by allowing for increased production capacity that aligns with growing demands for EV batteries worldwide.

Industry Overview in South Korea

South Korea is at the forefront of the global battery manufacturing landscape, playing a crucial role in the electric vehicle revolution. The country's robust technology ecosystem, backed by strong governmental support for innovati