Group14 Technologies, a Woodinville, WA-based global manufacturer and supplier of advanced silicon battery technology, acquired Schmid Silicon Technology Holding GmbH, a Spreetal, Germany-based silane producer.
The amount of the deal was not disclosed.
The acquisition will support Group 14’s European operations, with plans to open its first offices in Germany.
As part of the deal, the company plans to retain and integrate all current Schmid Silicon employees while also offering training to transition additional hires from traditional energy sectors into clean energy. Once the factory is online and operational, Group14 expects to grow its headcount as much as 5x.
Led by Rick Luebbe, CEO, and Rick Costantino, CTO, Group14 currently operates a commercial-scale Battery Active Materials factory, BAM-1, in Woodinville, Washington, with two additional forthcoming factories: a joint venture factory with SK, Inc. in South Korea and a second U.S. factory, BAM-2, in Moses Lake, WA. To date, Group14 has raised over $650m in financing from investors and customers such as Porsche AG, Microsoft Climate Innovation Fund, OMERS, Lightrock Climate Impact Fund, Decarbonization Partners, Amperex Technology Limited (ATL), BASF, Resonac (formerly known as Showa Denko) and SK Inc.
FinSMEs
25/07/2023