Group14 Technologies has closed a 150 million euro (about $169 million) extension of its Series D equity round to support global manufacturing expansion, centred on a new 10 gigawatt hour silicon battery materials facility at Sagunto, Spain. The plant, designated BAM-4, will make the company’s SCC55 silicon anode material and give it a European production base.
The extension follows the original Series D, which raised $463 million and closed in August 2025, led by SK Inc. with participation from Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock, the Microsoft Climate Innovation Fund and others. Group14 did not disclose which investors took part in the extension.
With Sagunto, the company’s planned and operating capacity reaches 40 gigawatt hours across three continents. Its BAM-3 plant at Sangju, South Korea has one operating 10 gigawatt hour module that is scaling production, and the BAM-2 facility at Moses Lake, Washington will comprise two modules totalling 20 gigawatt hours, with production expected to begin in 2027.
Chief executive Rick Luebbe said battery material producers must be located where the batteries are made, and framed the Spanish plant as a way to shorten delivery timelines and reduce exposure to regional supply chain disruption. The financing is venture equity funding industrial capacity rather than a project financing: the asset being built is a supply position in the silicon anode chain, ahead of cell production itself.