Group14 Technologies, a manufacturer of silicon-anode battery technology, has closed a €150 million (~$169 million) Series D equity funding extension to support its global manufacturing expansion, including a 10 GWh silicon battery materials manufacturing facility in Sagunto, Spain.

The planned facility, designated BAM-4, will manufacture the company’s SCC55 silicon battery material and establish a production base in Europe. The facility will bring Group14’s planned and operational manufacturing capacity to 40 GWh across Spain, South Korea, and the U.S.

“To truly transform the energy economy, battery material producers must be located where the batteries are made,” said Rick Luebbe, CEO and Co-Founder of Group14 Technologies. “Our expansion into Spain reflects our vision: staying nimble, building near key customer hubs, and maintaining secure, localized supply chains. The launch of BAM-4 gives us the springboard to accelerate our European footprint while simultaneously propelling our global growth trajectory across the U.S. and Asia.”

The latest funding extends Group14’s Series D financing round, which raised $463 million and closed in August 2025, led by SK Inc. with participation from existing investors Porsche Investments, ATL, OMERS, Decarbonization Partners, Lightrock Climate Impact Fund, Microsoft Climate Innovation Fund, and others.

The company did not disclose the investors participating in the Series D extension.

The company’s BAM-3 facility in Sangju, South Korea, has one operational 10 GWh manufacturing module that is scaling production, while the BAM-2 facility in Moses Lake, Washington, will comprise two manufacturing modules with a combined capacity of 20 GWh. Production at these modules is expected to begin in 2027.

According to the company, establishing manufacturing operations across North America, Asia, and Europe will help reduce exposure to regional supply chain disruptions, shorten delivery timelines, and provide localized customer support.

VC funding for energy storage companies in 9M 2026 totaled $5.4 billion across 79 deals, representing a 93% YoY increase compared to $2.8 billion raised across 56 deals in 9M 2025, according to Mercom’s 9M and Q3 2026 Energy Storage Funding and M&A report.