Monday, August 7, 2023

"Battery materials company Group14 gets a European foothold via acquisition in Germany"

Silane isn't exactly unobtanium so the foothold in Germany angle seems like it might be important.

From GeekWire, July 25:

The news: Group14 Technologies, a startup based in Woodinville, Wash., announced Monday it has acquired Germany’s Schmid Silicon Technology Holding for an undisclosed sum. The company produces silane gas, which is an ingredient for Group14’s patented silicon-carbon battery materials.

“It’s a really great foothold for us in Europe,” said Grant Ray, Group14’s vice president of global market strategy, in an interview with GeekWire.

As part of the acquisition, the companies will bring back Schmid Silicon’s factory in an industrial area in southeast Germany. The move will help protect against supply chain disruptions and should provide enough silane to get European operations “kicked off,” Ray said, though additional sources will ultimately be needed.

Group14 is looking in Germany to establish its first European offices. Ray did not share how quickly it could set up shop and start producing battery material in Europe, but noted that the company’s modular manufacturing strategy allows for a quick deployment.

German links: Group14 raised $614 million in funding last year in a round led by Germany-based Porsche, which plans to use Group14’s technology in some of its electric vehicles....