Oman Investment Authority (OIA) has joined a consortium of investors in a funding round for Group14 Technologies, a US-based manufacturer of advanced silicon battery materials. The $214 million funding round brings Group14’s total funding to $614 million, and includes investment from Microsoft’s Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, and Molicel. Group14 Technologies produces lithium-silicon battery materials as an alternative to traditional lithium-ion batteries, and has attracted investment from major players in the battery materials field, including Porsche and SK Materials. The company plans to build a network of Battery Active Materials (BAM) factories around the world, which will produce commercial-scale quantities of advanced silicon battery technology with higher performance than traditional lithium-ion batteries in terms of energy density and charge rates. These factories will support the growing demand from global battery manufacturers and automotive original equipment manufacturers. The funding round has been ranked among the top 10 in the climate tech sector this year by PitchBook, highlighting the increasing investor interest in market-ready, transformative battery technologies.
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