Group14 Technologies announced a joint venture with SK materials to build a factory for lithium-silicon battery materials in South Korea. The joint venture is the development for Group14 to secure dual sourcing for its patented lithium-silicon technology, a critical measure to mitigate potential global supply chain disruptions to the battery market. As part of the joint venture, SK materials will invest $52 million in the development of a battery materials manufacturing hub in South Korea expected to launch in 2022. To mitigate supply chain disruptions, Group14's new joint venture opens up the capability for dual sourcing for its lithium-silicon technology both from South Korea and its domestic Battery Active Materials (BAM) factory in Washington, which launched earlier this year. The joint venture agreement comes on the heels of Group14's $17 million Series B round in December 2020, which was led by SK materials. As a provider of anode battery materials, Group14's breakthrough lithium-silicon technology, SCC55, delivers dramatically more energy density per volume to meet the increasing global demand for high-performing lithium-ion-based storage.