Microsoft Invests in battery production
Microsoft Corp.’s over $1 billion climate innovation fund is betting on a battery startup valued at more than $3 billion that is trying to dramatically improve power and charging time of electric vehicles
Group14 already received Gov;s 100$M grant to boost domestic production
Tweet on Microsoft & Group14 deal
@Microsoft Invests in Silicon-Battery Material Upstart
Group14, who received a $100 million government grant to boost domestic battery production!
via @YahooFinance #microsoft #battery https://t.co/EEr38KsBcc— The_Journalbiz (@the_journalbiz) December 16, 2022
Yahoo reporting on a deal
Group14 Technologies is getting $214 million from investors—just a slice of billions in private and government cash going to make better batteries, which are essential for EVs and renewable energy, company officials said.
Other investors include Oman’s sovereign-wealth fund and a climate fund backed by private-equity firm Lightrock. Microsoft declined to disclose the size of its investment.
- Group14 also got a $100 million government grant to boost domestic battery production
- Group14 says its silicon anode material is more efficient than existing graphite technology.
Group14 recently received a $100 million grant from the U.S. Energy Department through last year’s infrastructure bill. It raised $400 million earlier this year from investors including Porsche , Riverstone Holdings and a joint venture between BlackRock Inc. and Singapore state-owned investor Temasek Holdings Ltd. The latest funding round values Group14 above $3 billion.
