Group14 Technologies Acquires Schmid Silicon in Milestone European Expansion

As part of the acquisition, Group14 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, and has begun scouting for its first European offices in Germany to establish operations. As part of the acquisition, Group14 plans to retain and integrate all current Schmid Silicon...

As part of the acquisition, Group14 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, and has begun scouting for its first European offices in Germany to establish operations.

"We have successfully scaled our proven process innovation at Group14 for a wide customer base, from consumer electronics to automotive and beyond. Our acquisition of Schmid Silicon's highly energy-efficient process technology and factory was a natural step as we continue to meet the dramatic uptick in demand for advanced battery technology while also supporting the European Union's decarbonization strategies," said Rick Costantino, CTO & co-founder of Group14 Technologies.

Once operational, Group14's silane factory will be a critical foothold into Europe as the company continues to expand worldwide as part of its global roadmap to build modular factories in key markets, positioning the company to meet demand for electrification across all corners of the globe. Today, Group14 is already shipping SCC55™ to customers representing over 90 percent of worldwide lithium-ion battery production from its first commercial-scale factory in Washington State, all while building its second U.S. factory in Moses Lake and completing the commissioning of its joint venture factory with SK in South Korea.

"Group14 has been rapidly growing across critical markets, and now we're looking forward to being closer to our automotive customers in Europe to support the global energy transition," said Rick Luebbe, CEO & co-founder of Group14 Technologies. "Germany has long been the home for many of the world's largest and oldest automakers, and we're looking forward to putting this critical stake in the ground to bring forth a resilient silicon battery supply chain capable of meeting global demand right now."

About Group14 Technologies
Founded to enable the coming electrification of everything, Group14 is the world's leading commercial manufacturer and supplier of silicon battery technology. 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 $650 million in financing from notable 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. Visit us at www.group14.technology.

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