Group14 Technologies secures $169M to expand manufacturing to Spain

Group14 Technologies has closed a $169 million (approximately €150 million) Series D equity extension, bringing its total funding to roughly $1.5 billion. The company plans to use the capital to expand its production of SCC55, a flagship silicon-carbon composite material designed for higher energy density and faster charging speeds.

A key component of this expansion is the selection of Sagunto, Spain, for a new industrial-scale manufacturing module, designated as BAM-4. This facility will have an initial capacity of 10 GWh and is scheduled to break ground in 2028. This move positions the company near major European automotive supply chains.

With the addition of the Spanish site, Group14’s near-term manufacturing footprint will reach 40 GWh. This includes the BAM-3 facility in Sangju, South Korea, which is currently operational, and two modules at the BAM-2 site in Moses Lake, Washington, which are expected to begin production in 2027. The company has also operated a commercial-pilot facility in Woodinville, Washington, since 2021.