Microsoft (MS) has made a private investment in battery-based startups. Earlier, other U.S. battery startups such as Scylla Nanotechnology, Enovix, and Amplius Technology also succeeded in attracting large investments. Large amounts of investment are flocking to battery companies in the U.S. on expectations of benefits under the Inflation Reduction Act (IRA).
The Wall Street Journal (WSJ) reported on the 14th (local time) that Microsoft’s climate innovation fund, which operates a total of $1 billion, has decided to invest in “Group 14 Technology,” a battery-based startup. It did not disclose the specific size of the investment.
Group 14 has received a total of $214 million in investments so far from Oman’s sovereign wealth fund and climate funds sponsored by private equity firm Light Rock, and has previously raised a total of $400 million from Porsche, Reverseton Holdings, and joint ventures of BlackRock and Singapore’s state-run investment companies. It recently received $100 million in subsidies from private investors as well as the U.S. Department of Energy through infrastructure laws.
Group 14 is a silicon cathode material production company headquartered in Woodinville, Washington, and was founded in 2015. Compared to the existing graphite technology, the company has a technology that makes batteries more efficient and powerful, and can dramatically reduce charging time, the company explains. WSJ explained that the company’s corporate value of $3 billion was recently recognized in the process of attracting investment.