[Press Release BUSINESS WIRE LINK] Group14 Technologies (LINK) today announced $18 million in new financing from Amperex Technologies Limited (ATL), Showa Denko (SDK), Cabot Corporation, BASF Venture Capital, and OVP Venture Partners. The new funds will be used to scale up manufacturing of a next generation anode material and advance into commercial production.
Technology: Group14 Technologies manufactures novel lithium-ion battery materials that boost battery performance. Unlike competing technologies, Group14’s materials are designed for low cost and “drop in” compatibility with existing lithium-ion battery production. Group14’s materials dramatically improve Li-ion battery costs and will help electric vehicles reach cost parity with internal combustion engine-powered cars.
Covered by extensive composition of matter and process patents, Group14 Technologies’ breakthrough is a novel, cost-effective process, which allows the company to combine nanostructured porous carbon with silicon to form a sponge-like composite. This structure provides high capacity and structural integrity through extended battery cycling. (LINK)
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