Group14 Technologies Named to TIME's List of the Best Inventions of 2022

Selected in the Green Energy category, Group14's transformational silicon battery technology, SCC55™, enables the electrification of everything from EVs to aviation to the grid

WOODINVILLE, Wash., Nov. 10, 2022 /PRNewswire/ -- Group14 Technologies, the world's largest manufacturer and supplier of silicon battery technology, today announced that its next-generation silicon battery technology, SCC55™, was named one of TIME's Best Inventions of 2022 in the Green Energy category. TIME's annual list features 200 extraordinary innovations changing how we live, work, play and think about what's possible.

SCC55™ is a silicon-carbon material that transforms conventional lithium-ion batteries into ultra-performing, fast-charging silicon batteries to democratize EV access and phase out internal combustion engine vehicles. As Group14 customer and investor Porsche and other global OEMs electrify their lineups, SCC55™ delivers a step change in performance to improve range, charging time, safety and more. Dropping seamlessly into current battery manufacturing infrastructure, SCC55™ enables OEMs to make the switch from lithium-ion to silicon batteries overnight, while eliminating costly capital expenditures.

With its groundbreaking modular manufacturing approach, Group14 is already delivering SCC55™ at commercial-scale today from the world's largest Battery Active Materials factory (BAM-1) for silicon batteries in Washington state. Group14's latest $400 million Series C investment led by Porsche, plus an additional $100 million grant recently awarded by the U.S. Department of Energy, will accelerate the construction of a second U.S. factory (BAM-2) coming online in 2023. While BAM-2's first 2,000-ton capacity module is expected at the end of 2023, Group14 expects to continue to add modules to meet demand from the EV sector.

"SCC55's real differentiator is its availability in the future," said Group14 CTO and co-founder Rick Costantino, who has more than 50 patents under his belt. "While our peers have projected timelines for commercial-scale manufacturing down the line in 2026 or 2027, SCC55 will already be in EVs as early as 2023."

"Since Day 1, Group14 has been committed to tackling the electrification of everything, from EVs to aviation to grid storage," added Rick Luebbe, CEO & co-founder of Group14. "It's an incredible honor to be considered a best invention by TIME, alongside other world-changing global innovations, as we continue to scale to meet surging demand from our customers."

To compile the list, TIME solicited nominations from editors and correspondents around the world and through an online application process, paying special attention to growing fields – such as the electric vehicle industry, green energy and the metaverse. TIME then evaluated each contender on a number of key factors, including originality, efficacy, ambition and impact. See the full list of TIME's Best Inventions of 2022 here.

Founded to enable the coming electrification of everything, Group14 is the leading commercial manufacturer and supplier of silicon battery technology to elevate the performance for all applications. Group14 currently operates the world's largest commercial-scale Battery Active Materials factory in Woodinville, Washington, with two additional forthcoming factories: a joint venture factory with SK in South Korea and a second U.S. factory. To date, Group14 has raised $441 million in financing from notable investors and customers such as Porsche AG, OMERS Capital Markets, Decarbonization Partners, Amperex Technology Limited (ATL), BASF, Showa Denko and SK Inc. Visit us at www.group14.technology.

SOURCE Group14 Technologies