Porsche is purchasing shares in Group14 Technologies, a manufacturer of silicon-carbon technology for lithium-ion batteries based in the United States.
The carmaker is seeking $100 million as the main investor and spearheading a $400 million Series C investment round in which numerous corporations are contributing.
Group14 Technologies, located in Woodinville, Washington, plans to use the additional funds to expand its global manufacturing of anode material. It plans to start building another facility in the United States before the end of 2022.
It will also supply the Tuebingen-based Cellforce Group, in which the carmaker owns a controlling share. Beginning in 2024, the joint venture plans to manufacture self-developed, high-performance battery cells with silicon anodes for small-series manufacturing, racing, and high-performance automobiles in Germany. The battery cells are intended to be employed in high-performance powertrains in electric automobiles.
Cellforce's collaboration with Group14 assures access to technology that is expected to make the next generation of battery cells far more efficient than the lithium-ion varieties now in use. The new cells' chemistry is based on silicon as the anode material. When compared to present batteries, this can dramatically boost power density. They will be able to store more energy and go farther. The novel chemical also lowers the internal resistance of the battery, allowing it to absorb more energy during recovery while charging faster.
Group14 already has a BAM plant in Washington. The technique has already been shown in batteries for electric vehicles and exceptionally quick charging applications. In South Korea, another facility will open in 2022.