Singapore-headquartered global impact investor Earth Venture Capital has joined the funding round of US-based lithium-silicon battery company Group14.
Other prominent backers of this round are Microsoft’s Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, and Molicel.
This capital raise will enable Group14 to scale up production capacity, expedite research and development efforts, and bring their lithium-silicon battery solutions to market at an accelerated pace.
Group14 develops lithium-silicon batteries by leveraging the unique properties of silicon to offer “unparalleled advantages” in terms of energy density, charging speed, and overall performance compared to traditional lithium-ion batteries. The firm claims its technology has the potential to accelerate the adoption of electric vehicles, enable efficient renewable energy integration and transform grid storage.
Also Read: Building energy management startup Ampotech raises US$1.3M led by Earth VC
Linh Nguyen, Founding Partner at Earth VC, said: “Group14’s lithium-silicon battery technology is a game-changer with a simple but powerful vision where aeroplanes make less noise, cars emit less carbon, and nature gets more authentic.”
In addition to the financing round, Group14 has also unveiled plans for an additional BAM (battery active material) factory as part of a joint venture factory in South Korea with SK Inc. These factories are engineered for modular manufacturing, with each module producing 2,000 tons of SCC55 (silicon-carbon composite) annually.
In April this year, Earth VC joined the US$5 million Series A investment round of Israeli intelligent traffic management startup ITC.
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