Group14 adds €150M to Series D, will build silicon-anode plant in Spain
What's the deal? Group14 Technologies has closed a €150 million (~$167 million) Series D equity extension and committed to building its next industrial-scale manufacturing module in Sagunto, Spain. The silicon battery materials maker said the capital will fund global capacity expansion for customers across automotive, consumer electronics, data centers, aerospace, and defense.
The money: The round extends Group14's $463 million Series D from August 2025 and brings total funding to $1.26 billion. Chief executive officer and co-founder Rick Luebbe said the capital came from a European investor, which he declined to name.
What's the endgame? Group14 makes a silicon-carbon material, SCC55, that replaces graphite in lithium-ion anodes to raise energy density and charging speed. The Spanish site—dubbed BAM-4—will add 10 GWh of initial capacity, bringing its near-term footprint to 40 GWh across Korea, Washington, and Europe.
Why Spain? Luebbe said the Sagunto site offers clean energy, skilled chemical-industry labor, and proximity to automakers, given Spain is Europe's second-largest vehicle producer after Germany. "To truly transform the energy economy, battery material producers must be located where the batteries are made," he said. Production is targeted for mid-2029.
By the numbers: The extension ranks in the 93rd percentile among all-time Series D rounds for US nanotech startups, based on a sample of 113 deals.
What could go wrong? Group14's Moses Lake timeline has already slipped—originally slated for late 2024, then early 2026—and the company laid off Washington workers in July 2025. The Spain plant is a long-dated bet, with production years away.
The signal: The raise lands amid intensifying investment in silicon-anode manufacturing; rival Sila raised $300 million in July 2026 to expand US production. It is a bet on building capacity ahead of broad automotive adoption—not proof the market has already scaled.
Read more: prnewswire.com
Image credit: Group14 Technologies
