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German automotive manufacturer, Porsche on Wednesday announced its stake acquisition in the US company Group14 Technologies, a producer of advanced silicon-carbon technology for lithium-ion batteries.
As the lead investor, Porsche is raising USD 100 million and leading a Series C funding round in which several companies are investing a total of USD 400 million.
Based in Woodinville in Washington Group14 Technologies intends to use the increase in capital to accelerate its worldwide production of anode material for lithium-ion batteries, a company release said.
Before the end of the year, Group14 will be laying the foundations of another factory for the production of battery active materials (BAM) in the US, it added.
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