U.S. Silicon-based Anode Material Manufacturer Group14 Technologies, Inc. announced in early June that it has signed five binding multi-year offtake agreements with three leading electric vehicle (EV) and two consumer electronics (CE) battery manufacturers in Europe, Asia, and North America. The contract value of these five binding offtake agreements exceeds $300 million.

These strategic supply agreements indicate the progress Group14 has made in promoting the global application of next-generation silicon-based battery technology.

To date, Group14's customers come from market sectors including electric vehicles, consumer electronics, and electric vertical take-off and landing (eVTOL). This reflects the wide applicability of Group14's breakthrough silicon-carbon anode material SCC55®. Compared to traditional silicon-oxygen anodes, this material is designed to provide superior energy density, faster charging times, higher overall efficiency, and reduce the carbon footprint of customers.

Group14 CEO and co-founder Rick Luebbe said, "The speed at which our customers are signing up for SCC55® deliveries confirms that we are at a turning point in the transition to electrification of everything since the introduction of silicon-based batteries. We have witnessed a surge in demand in the electric vehicle battery market, which is due to the performance enhancement of batteries supplied by Group14's silicon-based anodes."

Based on the entire customer base of the company, Group14 forecasts that the market demand for SCC55® will be more than four times the original production capacity forecast by the company by 2027. As a result, Group14 is rapidly expanding its global manufacturing capabilities.

The company's first silicon-based anode material factory (BAM-1) located in Woodinville, Washington, has been producing at a tonnage scale since it started production in 2021 and has delivered SCC55® products to more than 100 customers, whose lithium-ion battery production accounts for 95% of the global total.

Group 14: BAM-2

In April 2023, Group 14 received a Series C financing of $614 million from Porsche AG and Microsoft's Climate Innovation Fund, followed by a $100 million grant from the U.S. Department of Energy, which accelerated the construction progress of the second silicon-based anode material factory BAM-2 in Moses Lake, Washington. Group14's second factory is scheduled to start production this year, with an initial annual capacity of 4,000 tons of SCC55® silicon-based anode, capable of supporting the production of 20 GWh of silicon-based anode batteries.

In addition, the first manufacturing module of the joint venture between Group14 and South Korea's SK is in the final stages of commissioning, with a capacity of 2,000 tons of SCC55®, capable of supporting the annual production of 10 GWh of silicon-based anode batteries.

Group14 has also increased its investment layout in Europe. Group14 is not only a partner of Porsche in Germany and BASF but also acquired Germany's Schmid Silicon and its Spreetal silicon plant in November 2023, ensuring the supply of silane gas for its silicon-carbon anode materials. Group14 has set up a European office near Porsche and is looking for opportunities to establish a third silicon-based anode material factory (BAM-3) in Germany.

With the battery production capacity supported by Group14 increasing to 30 GWh next year, Group14 says it is expected to become one of the world's largest manufacturers of automotive-grade silicon-based anode materials at scale.

Earlier this year, at the CES 2024 exhibition in Las Vegas, Molice Technology, a lithium battery company under Taiwan Cement Group (TCC), showcased its ultra-high power battery INR-21700-P50B. This is a 21700 cylindrical battery, and the Molice B series battery is equipped on the McMurtry Spéirling PURE model of McMurtry Automotive, a British startup luxury hypercar company.