If electric car ownership keeps going up, they’ll be coining it
Microsoft is one of the investors contributing to the latest funding round for Group14 Technologies, a company developing silicon battery technology for applications including electric vehicles.
According to Group14, it has successfully raised $214 million in additional financing from a consortium that includes Moore Strategic Ventures, Molicel, Lightrock Climate Impact Fund, Oman Investment Authority, and Microsoft’s Climate Innovation Fund. This brings the company’s total Series C funding round to $614 million, it said.
The Microsoft Climate Innovation Fund was announced in 2020 as part of what the Redmond giant termed a “bold new environmental sustainability strategy,” and was set up to invest $1 billion into new carbon reduction and removal technologies over a four-year period.
“Batteries are becoming the backbone of the clean energy transition,” said the director of Microsoft’s Climate Innovation Fund, Brandon Middaugh.
