Microsoft is betting on the launch of EV batteries as the basis of the energy transformation | Jobs Recent

  • Group14 Technologiesa global manufacturer and supplier of advanced silicon battery technologies, obtained additional financing in the amount of USD 214 million from a consortium including, among others, from Microsoft Corp (NASDAQ: MSFT) Climate Innovation Fund, Lightrock Climate Impact Fund, Moore’s Strategic Ventures, Investment Authority of Omanand Molicela.

  • The latest funding raises the Series C Group14 round to $614 million.

  • “Batteries are becoming the foundation of the clean energy transition,” said Brandon Middaugh, director of Microsoft’s Climate Innovation Fund.

  • As reported by the Wall Street Journal, the battery startup, valued at over $3 billion, has won a $100 million grant from the U.S. Department of Energy under the 2021 Infrastructure Bill.

  • This year, it raised $400 million from investors, including Porsche Automobile Holding SE (OTC: POAHY), Riverstone Holdings Ltd (OTC: REVSF) and a joint venture between BlackRock, Inc (NYSE: BLK) and a Singaporean state investor Temasek Holdings Ltd.

  • Group 14 says its silicon anode material is more efficient than existing graphite technology, potentially fueling more powerful batteries for automakers like Porsche.

  • Group14 says its existing Washington, D.C. trading plant has outperformed Sila Nanotechnologies Inc, Enovix Corp (NASDAQ: ENVX) and Amrius Technologies, Inc (NYSE: AMPX).

  • Group14 plans to use the new funding to accelerate the development of a larger manufacturing facility in downtown Washington that will produce battery materials capable of powering at least 100,000 electric cars.

  • The Group14 material can easily replace or work with graphite, enabling it to integrate into the existing battery supply chain, which should help the company grow faster, Middaugh said.

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