Group14 Technologies Acquires Schmid Silicon

Group14 Technologies Acquires Schmid Silicon
  • 25.07.2023
Group14 Technologies Acquires Schmid Silicon Group14 Technologies has achieved a significant European expansion by acquiring Schmid Silicon Technology Holding GmbH (Schmid Silicon), a leading silane producer in Europe. Group14 Technologies is a prominent global manufacturer and supplier of advanced silicon battery technology. The acquisition aims to enhance the global battery supply chain and meet the increasing demand for silicon battery technology worldwide. As part of the deal, Group14 will utilize Schmid Silicon's state-of-the-art silane factory in Spreetal, Germany, to bolster its expanding European operations. This strategic move helps secure Group14's customers and partners from potential supply chain disruptions, especially in the automotive industry, and sets the stage for localized integrated silicon battery technology manufacturing in Europe. The acquisition ensures a stable supply of silane gas, a critical precursor for Group14's award-winning silicon battery technology, SCC55™. By combining Schmid Silicon's advanced silane process technology with Group14's proven manufacturing capabilities, they can produce high-energy density silicon battery materials. This alternative offers better sustainability and higher performance, pushing the limits of lithium-ion batteries to keep pace with the global energy transition. Group14 Technologies Group14 intends to retain and integrate all existing Schmid Silicon employees and provide training to transition additional hires from traditional energy sectors to clean energy. Upon the factory's operation, Group14 anticipates a significant increase in its headcount and has begun the search for its first European offices in Germany for establishing operations. Rick Costantino, CTO & co-founder of Group14 Technologies, highlighted the acquisition as a natural progression to meet the surging demand for advanced battery technology while also supporting the European Union's decarbonization initiatives. Once operational, Group14's silane factory will serve as a crucial foothold in Europe, furthering the company's global roadmap to establish modular factories in key markets. This expansion positions the company to meet the growing demand for electrification worldwide. Currently, Group14 is already shipping SCC55™ to customers representing over 90% of worldwide lithium-ion battery production from its commercial-scale factory in Washington State. Simultaneously, they are building their second U.S. factory in Moses Lake and finalizing the commissioning of their joint venture factory with SK in South Korea. Rick Luebbe, CEO & co-founder of Group14 Technologies, emphasized that the acquisition brings Group14 closer to its automotive customers in Europe, facilitating support for the global energy transition. With Germany being home to major automakers, this move enables Group14 to establish a resilient silicon battery supply chain capable of meeting global demand.   Note: Content may be edited for style and length. Source

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