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Porsche AG Acquires Stake In Producer Of Battery Materials


Sports automotive producer Porsche is buying shares in US firm Group14 Technologies, a producer of superior silicon-carbon know-how for lithium-ion batteries, because the carmaker appears to be like to develop its personal high-performance battery cells.

Porsche is forging forward with its drive to develop and manufacture high-performance battery cells: the sports activities automotive producer is buying shares within the US firm Group14 Technologies, a producer of superior silicon-carbon know-how for lithium-ion batteries. As lead investor, Porsche is elevating 100 million US {dollars} and main a Series C funding spherical through which a number of corporations are investing a complete of 400 million US {dollars} (about 328 million euros).

Group14 Technologies, which is predicated in Woodinville in Washington state, intends to make use of the rise in capital to speed up its worldwide manufacturing of anode materials for lithium-ion batteries. Before the top of the yr, Group14 will likely be laying the foundations of one other manufacturing facility for the manufacturing of battery energetic supplies (BAM) within the US. In future, Group14 can even provide the Cellforce Group from Tubingen, through which Porsche holds a majority stake. Cellforce was based in 2021 by Porsche and Customcells Holding. From 2024, in Germany, the three way partnership intends to provide self-developed high-performance battery cells with silicon anodes for small collection manufacturing, motorsport and high-performance automobiles. The Cellforce battery cells are anticipated for use in electrically powered Porsche automobiles with high-performance powertrains.

In a market with quickly rising demand, the cooperation with Group14 ensures that Cellforce has entry to high-quality future know-how that may make the subsequent technology of battery cells significantly extra environment friendly than the lithium-ion batteries at the moment in use. The chemistry of the brand new cells depends on silicon because the anode materials. This can considerably enhance the facility density in comparison with the batteries at the moment in collection manufacturing. The batteries of the longer term will accordingly be capable of retailer extra vitality throughout the similar dimensions – and can subsequently have a higher vary than the batteries at the moment in the marketplace. The progressive chemistry additionally reduces the battery’s inner resistance, permitting it to soak up extra vitality throughout recuperation, whereas charging quicker.

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Group14 operates a commercial-scale manufacturing manufacturing facility for BAM within the state of Washington. The know-how has already confirmed itself in batteries for electrical automobiles and for very quick charging purposes. Another manufacturing facility will go into operation in South Korea in 2022. In addition to Porsche, a number of different corporations – from world monetary buyers to strategic buyers from the battery business (OMERS Capital Markets, Decarbonization Partners, Riverstone Holdings LLC, Vsquared Ventures, Moore Strategic Ventures, and others) – are taking part within the present funding spherical.

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