Group14 Technologies, a maker of silicon-based battery materials, raised about $169 million and said it will build its next factory in Spain, extending a manufacturing network that already spans Washington state and South Korea.
The Woodinville, Wash., company closed a EUR150 million extension of its Series D round, bringing that round to more than $665 million and its total funding to nearly $1.5 billion. The money came from a new European investor that the company didn’t name.
A plant near Europe’s carmakers
The new site, in Sagunto near Valencia, will have an initial capacity of 10 gigawatt-hours of SCC55, Group14’s silicon-carbon material that replaces graphite in lithium-ion battery anodes to increase energy density and charging speed. Spain is Europe’s second-largest vehicle producer after Germany, and the company said it chose the location for clean power, a skilled chemical workforce and proximity to automotive customers. Production is targeted for mid-2029.
Once built, the Spanish plant would bring Group14’s near-term capacity to about 40 gigawatt-hours, together with an operating plant in Sangju, South Korea, and two planned modules in Moses Lake, Wash. The company already has a European supply base for silane gas, a key input, through its 2023 purchase of Germany’s Schmid Silicon Technology.
Delays at home
The Moses Lake factory, which received $100 million under the federal infrastructure law, has repeatedly slipped. It was first meant to start production in late 2024, and Chief Executive Rick Luebbe now expects the first module to come online in mid-2027, citing the complexity of final installation and commissioning. The company cut jobs in Washington in 2025 and shifted resources toward Korea, where output has been ramping since 2024.
Group14’s material ships mainly to consumer-electronics customers, which qualify new materials faster than automakers. The company also sees growing demand from backup batteries in data centers, where silicon-anode cells could help absorb sudden spikes in AI-server power use.
