Sports car maker Porsche is acquiring shares in American company Group14 Technologies, a maker of advanced silicon-carbon technology for lithium-ion batteries, as the carmaker looks to develop its own high-performance battery cells.
Porsche continues its drive to develop and manufacture high-performance battery cells: sports car maker is acquiring shares in US company Group14 Technologies, a maker of advanced silicon-carbon technology for lithium-ion batteries . As the lead investor, Porsche is raising US$100 million and is leading a Series C funding round with multiple companies investing a total of US$400 million (approximately €328 million).
Group14 Technologies, based in Woodinville, Washington State, intends to use the increase in capital to accelerate its worldwide production of anode materials for lithium-ion batteries. Before the end of the year, Group14 will lay the foundation for another factory for the production of Battery Active Ingredients (BAM) in the US. In the future, Group14 will also supply Tübingen to Cellforce Group, in which Porsche holds a majority stake. Salesforce was founded in 2021 by Porsche and CustomSales Holding. From 2024, in Germany, the joint venture intends to produce self-developed high-performance battery cells with silicon anodes for small series production, motorsport and high-performance vehicles. The Cellforce battery cells are expected to be used in electric-powered Porsche vehicles with high-performance powertrains.
In a rapidly growing demanding market, the collaboration with Group14 ensures that Cellforce has access to high-quality futuristic technology that will power the next generation of battery cells significantly more than the lithium-ion batteries currently in use. Will make you efficient The chemistry of the new cells depends on silicon as the anode material. This can significantly increase power density compared to batteries currently in series production. Batteries of the future will accordingly be able to store more energy in the same dimensions – and therefore have a greater range – than the batteries currently on the market. The innovative chemistry also lowers the battery’s internal resistance, allowing it to absorb more energy while being healthy, when charged faster.
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Group14 operates a commercial scale production factory for BAM in Washington State. The technology has already proven itself in batteries for electric vehicles and for extremely fast charging applications. Another factory will be operational in South Korea in 2022. In addition to Porsche, several other companies – ranging from global financial investors to strategic investors in the battery industry (OMERS Capital Markets, Decarbonization Partners, Riverstone Holdings LLC, WeSquare Ventures, Moore Strategic Ventures, and others) – are participating in the current funding round. Huh.
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