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Summary
According to Pitchbook, Group14s Series C round represents one of the top 10 largest financings in the climate tech sector completed in 2022. "Batteries are becoming the backbone of the clean energy transition," said Brandon Middaugh, Director of Microsofts Climate Innovation Fund. In conjunction with the recent $100 million grant from the Biden-Harris Administration and the U.S. Department of Energy (DOE), the Series C funding will be used to build Group14s second commercial-scale BAM-2 factory. "It comes down to shortening the path to market for OEMs so we can meet EV demand today," said Rick Luebbe, CEO & Co-Founder of Group14. To date, Group14 has raised $650 million in financing from notable investors and customers such as Porsche AG, Microsoft Climate Innovation Fund, OMERS Capital Markets, Decarbonization Partners, Amperex Technology Limited (ATL), BASF, Showa Denko and SK Inc. Visit us at www.group14.technology.