Olympic Venture Partners formed their first fund in 1983, and have since formed and completed six additional funds. They have seen up and down cycles, open and closed IPO windows, bubbles build and burst.  Their Entrepreneurs Fund brings leading entrepreneurs many of whom pioneered venture-backed Pacific Northwest based companies into the OVP fold. These industry leaders co-invest in every project OVP participates in. They participate in the building of major enterprises by providing deal flow, contacts and seasoned insight.

OVP Venture Partners

BASF Venture Capital is the corporate venture capital arm of BASF Group. They invest worldwide in promising young enterprises relevant to BASF’s current and future business fields and also in funds. Besides innovations in the fields of chemistry, new materials and sustainability, their areas of focus include digitization and new business models. They support their portfolio companies through selective interactions with the global research, partnership and customer networks of the BASF Group. They are headquartered in Ludwigshafen, Germany and have offices in San Francisco, Boston, Shanghai, Sao Paulo, and Tel Aviv.

BASF Venture Capital

Cabot is a global performance materials company that delivers a broad range of products and solutions to customers. Their primary products are rubber and specialty grade carbon blacks, inkjet colorants, fumed metal oxides, aerogel, tantalum and related products, and cesium formate drilling fluids, among others. They provide performance solutions that solve customers' challenges today while preparing them to meet tomorrow’s needs.  Cabot Corporation was selected as a Bronze Winner for the Ninth Annual Team Massachusetts Economic Impact Awards and also CR Magazine’s 100 Best Corporate Citizens for 2012. The company was founded in 1882 and is headquartered in Boston, Massachusetts, United States.

Cabot Corporation

ATL is the world's leading producer and innovator of lithium-ion batteries. They are known worldwide for their high-tech, high-volume prowess in developing, producing and packaging high quality rechargeable lithium-ion battery cells and packs. Their service, know-how, production capacity and system integration capability is second to none. Working closely with world-renowned branded smartphones, tablets and notebooks OEMs, drones, robots and power tools specialists, VR/AR vanguards and various wearable and smart home technology trailblazers, they are helping the world connect better, last longer, live easier and fly higher. Headquartered in Hong Kong, they operate factories in Dongguan and Ningde, in the People's Republic of China.

Amperex Technology

The Showa Denko is a Japanese chemical engineering firm that continues to create excellent individualized products through the interconnection of inorganic, aluminum, and organic chemical technologies, thereby contributing to a society in which affluence and sustainability are harmonized.

Showa Denko

SK Materials is a gas and IT materials solutions-providing firm. They serve business information, cleaning gases, nitrogen trifluoride, deposition gases, industrial gases, oxygen, nitrogen, argon, etching gases, wet chemical solutions, and tungsten etchart.

SK Materials

Porsche is an automobile manufacturer. The company develops numerous technologies that have advanced vehicle performance, improved safety, and spurred environmental innovations. They are specializing in high-performance sports cars, SUVs, and sedans. It also offers motor vehicle development work and consulting.  It also develops software solutions for transport logistics and traffic planning and management and provides dealer and customer financing, leasing, banking, insurance, fleet management, and mobility services.  The company was awarded the title of ''Most Prestigious Automobile Brand'' by Luxury Institute in a 2006 survey. Porsche was founded in 1931 and is headquartered in Stuttgart, Baden-Württemberg, Germany.

Porsche

Riverstone Holdings LLC is a leading private markets asset management firm dedicated to real assets investing primarily in energy, power and infrastructure, founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with $38 billion of capital raised.

Riverstone Holdings

OMERS Ventures is an early stage venture capital firm with offices in Toronto, Palo Alto and New York. Typically, we invest in Series A-C companies with a first cheque size between $5-25M. We focus primarily on four categories: horizontal SaaS, vertical SaaS, fintech and AI enablement.

OMERS Ventures

Moore Strategic Ventures is a privately held investment company. It specializes in the fields of financial services, venture capital, and finance.

Moore Strategic Ventures

Vsquared Ventures invests in early-stage deep-tech companies that are tackling society's most pressing challenges, with a focus on quantum and novel computing, green energy, robotics, AI/ML, new space, synthetic biology, and healthcare. It is committed to a partnership and will go to any length to help accelerate and scale vision, unlocking all seemingly impossible possibilities.

Vsquared Ventures

Decarbonization Partners specializes in investing in late-stage venture capital and early-stage growth equity firms that focus on proven technologies within clean energy, electrification, green materials, and a circular, digital economy. The company is actively investing in six key areas and has already made five successful investments.

Decarbonization Partners

Oman Investment Fund is a wholly owned investment arm of the Government of Oman.

Oman Investment Fund

Lightrock is a global growth capital platform that backs purpose-driven entrepreneurs tackling the world’s biggest challenges. Lightrock invests in companies that pursue scalable and tech-driven business models around the key impact themes of people, planet, and productivity/tech for good. Lightrock’s portfolio includes more than 90 high-growth companies across Europe, US, Latin America, India and Africa, supported by more than 100 Lightrock professionals based in 6 global offices. Lightrock is backed by LGT, the international private banking and asset management group, and other leading global institutions. For more information, please visit www.lightrock.com.

Lightrock

The E-One Moli Energy group of companies are world-class designers and manufacturers of high performance, superior quality rechargeable lithium-ion cells and battery pack products. With more power, a lightweight design and low environmental impact, their lithium-ion technology offers significant performance advantages over conventional rechargeable systems such as Nickel Metal Hydride and Nickel Cadmium. Under the trademark MOLICEL®, they produce commercial quantities of lithium-ion rechargeable batteries for customers throughout the world.  In operation since 1987, the North American facility is located in Maple Ridge, British Columbia, Canada and is home to their Research and Development and North American Sales and Technical Support Centre. Their product line includes both cylindrical and prismatic cells and the expertise they offer in both locations allows us to continuously develop state of the art battery solutions including cells, battery packs, protection circuitry and chargers. Their customer base is diverse and includes companies in North America, Asia, Australia and Europe.  Their product applications are even more wide-ranging as they provide the battery for a variety of uses, such as cordless power tools, portable electronic devices, military and medical applications, cellular phones, and electric vehicles, among others. The increasing need for green energy in transportation is driving their industry to investigate newer, safer and more energy efficient applications utilizing lithium-ion cell technology. Partnerships have been formed with key electric vehicle development companies to establish a world leading battery system for hybrid electric vehicles (HEV’s) and plug-in hybrid electric vehicles (PHEV). As one of the world’s leading producers of lithium-ion batteries, E-One Moli Energy will continue to pioneer the development of rechargeable batteries to meet the future challenges of the mobile world.

E-One Moli Energy

Microsoft Climate Innovation Fund is an investment initiative to accelerate technology development and deployment of new climate innovations through equity and debt capital.

Microsoft Climate Innovation Fund

Earth VC is a global climate tech venture capital firm dedicated to backing earth-changing deep tech startups that are key to decarbonizing Emerging Asia. Founded during the Covid-19 lockdowns, Earth VC was born from a shared belief that science and economics are our best solutions to fix the planet. Our bold vision is to foster a new era of investment that prioritizes protecting and preserving our planet over endless growth. Earth VC provides holistic support, from market bridging to Asia to key hirings and strategic fundraising guidance, ensuring that game-changing innovations get the backing they need to thrive. With a hands-on approach and a mission to decarbonize through breakthrough technologies, Earth VC is at the forefront of solving the climate crisis and driving sustainable progress in the Asia-Pacific region.

Earth Venture Capital

Group14 Technologies

Group14 is the world’s leading commercial manufacturer and supplier of advanced silicon battery technology. Today, Group14 works with customers representing 95% of worldwide battery production.  Headquartered in Woodinville, WA, with a joint venture in South Korea, and new factories on the horizon around the world, our Battery Active Material (BAM) factories can be built anywhere on Earth to help meet global demand for silicon battery materials. We're enabling a world where anything that can run on rechargeable batteries, does.

Group14 Technologies (Group14) develops silicon-carbon composite materials as an alternative for the graphite used in lithium-ion batteries. Group14 claims that its flagship product SCC55, a micronized silicon-carbon powder, has 5x more capacity and offers up to 50% more energy density than graphite. Use cases for SCC55 include EVs, medical devices, aviation, and grid storage.

Electrifying passenger and commercial travel

EV Economy

Why Group14 Technologies is one of 2024's most innnovative companies

Group14 Technologies (Group14) develops silicon-carbon composite materials as an alternative for the graphite used in lithium-ion batteries. Group14 claims that its flagship product SCC55, a micronized silicon-carbon powder, has 5x more capacity and offers up to 50% more energy density than graphite. Use cases for SCC55 include EVs, medical devices, aviation, and grid storage.In October 2020, Group14 announced the development of a production facility in Moses Lake, Washington, that is expected to carry a production capacity of more than 750,000 silicon-carbon anodes per year. In <a href="https://sp-edge.com/updates/17527">April 2023</a>, the company began construction of a second commercial-scale Battery Active Materials (BAM-2) factory in Moses Lake, Washington. The factory is expected to begin manufacturing SCC55 in 2024. In <a href="https://sp-edge.com/updates/33799">September 2024</a>, Group14 delivered SCC55 silicon battery material from its 10-gigawatt-hour joint venture (JV) plant in Sangju, South Korea.Key customers and partnershipsIn January 2024, Group14 Technologies partnered with <a href="https://sp-edge.com/updates/25287">Enovix</a> Corporation, to utilize the former's silicon-carbon composite, SCC55, in silicon battery production.Funding and financialsIn October 2022, Group14 was awarded a <a href="https://sp-edge.com/updates/13898">USD 100 million</a> grant by the US Department of Energy under the Bipartisan Infrastructure Law. Group14 will be using the funds to build two 2,000-ton-per-year commercial manufacturing modules in its second US Battery Active Materials factory (BAM-2) in Washington.In May 2022, Group14 raised <a href="https://sp-edge.com/updates/10162">USD 400 million</a> in a Series C round led by Porsche AG. Following this in December 2022, the company raised <a href="https://sp-edge.com/updates/15344">USD 214 million</a> in additional financing. This brings its Series C funding to a total of USD 614 million. The funds will be used to build its BAM-2 factory.

<div>
 
 SolidEnergy Systems (SES) is a lithium-metal battery developer and manufacturer of battery cells for EVs. SES hybrid Li-metal batteries replace the graphite anode with lithium-metal to improve energy density (to around 400 Wh/kg). SES also uses a hybrid electrolyte&mdash;the battery has a solid protective coating on the lithium-metal anode and a liquid in the cathode, unlike some solid-state batteries (Solid Power and QuantumScape) that are all-solid and free of any liquid. The company&rsquo;s battery is expected to enable a longer driving range (around 500&ndash;600 miles) and is also capable of reaching an 80% charge in under 15 minutes. In 2021, SES was the first company to introduce 100Ah Li-metal cells, globally.
 
 
 SES&rsquo; large format Li-metal EV and eVTOL cells known as &ldquo;Apollo&rdquo; can be customized for different OEM requests. As such, the company has begun pilot-scale manufacturing of 50Ah to 100Ah Li-Metal cells with GM, Hyundai, and Honda at their Shanghai (China) and Chungju (Korea) battery manufacturing facilities. The company aims to commercialize its batteries by 2025. SES 
 <a href="https://investors.ses.ai/news/news-details/2023/SES-to-Host-Battery-World-2023-and-Announce-Worlds-First-Automotive-B-sample-JDA-for-Li-Metal/default.aspx">
 expects
 </a>
 to establish the world&rsquo;s first B-sample Joint Development Agreement (JDA) with an automotive OEM in December 2023.
 
 
 &nbsp;
 Funding and financials
 
 
 In February 2023, SES received an undisclosed amount of cash grants from the South Korean Central Government. Prior to this in April 2021, the company raised USD 139 million in a Series D funding round led by General Motors, while in July 2021, it raised USD 100 million from Hyundai.&nbsp;
 
 
 SES was listed on NYSE through a SPAC merger in February 2022. The deal raised USD 275 million at a valuation of USD 3.6 billion. The proceeds were to be used to accelerate growth and fund key development initiatives.&nbsp;
 
 
 
</div>

Addionics, a British next-gen battery-tech company, develops smart 3D electrodes for EV batteries by optimizing AI-based algorithms. The company states that its tech could improve the cost and performance of any EV battery. The company collaborated with leading automotive OEMs and suppliers in the US and Europe to integrate its technology with lithium-nickel-manganese-cobalt-oxide (NMC), lithium iron phosphate, silicon, lithium polymer battery chemistries, and solid state batteries.In <a href="https://sp-edge.com/updates/27236">February 2024</a>, Addionics reported a planned USD 400 million investment into its US manufacturing facilities to expand domestic EV battery production in the country. The new facilities will produce 3D copper foils to support 90 GWh of battery capacity, annually. The company’s first factory is set to begin production in 2027, with additional plants expected to come online in 2032.Key customers and partnershipsIn June 2022, Addionics <a href="https://sp-edge.com/updates/11083">partnered </a>with Blitz Motors, an Israel based smart electric moped manufacturer, to provide smart 3D electrodes and develop Li-ion batteries. In August 2021, Addionics partnered with the Center of Process Innovation (CPI) and the University of Warwick’s WMG to improve lithium-ion battery cell performance and manufacturing processes. In April 2021, Addionics also partnered with Saint-Gobain Ceramics, a manufacturer of materials for construction, mobility, healthcare, and other industrial segments to develop high-power, high-capacity solid-state batteries for EVs.Funding and financialsIn January 2022, the company raised USD 27 million in Series A funding. The proceeds were to be used to redesign existing battery architecture with Addionics’ Smart 3D Electrodes. The company planned to commercialize its solution by 2024.

Addionics

InoBat is a Slovakian next-generation battery technology company. In November 2020, the company announced the launch of an “intelligent” EV battery. According to the company, this was the first of its kind and was developed through the combination of AI and high throughput (HTP) technology. The use of AI enables the company to develop bespoke batteries within a short period of time, making it possible to cater to the unique needs and power demands of different vehicles and applications. The company’s technology also reduces reliance on cobalt, resulting in higher energy density, with a goal of reaching 330 Wh/kg by the end of 2023 (compared to 250–270 Wh/kg of the highest-density lithium-ion batteries).Key customers and partnerships&nbsp;In November 2021, InoBat partnered with Chinese equipment manufacturer Wuxi Lead to deploy a lithium-ion pilot battery production line in Slovakia. The first batch of batteries was expected to be produced by the end of 2022. In April 2021, the company entered into a partnership with SOR (a producer of city and inter-city buses in Central Europe) to design, develop, and supply batteries for a new electric bus fleet. InoBat also planned to expand its geographic footprint across Europe and globally by building several gigafactories through 2024. In March 2022, Inobat announced plans to deploy a <a href="https://inobatauto.eu/newsroom/inobat-auto-announces-intention-to-build-its-third-gigafactory-in-western-europe/">third facility </a>in Western Europe.In April 2022, InoBat partnered with <a href="https://sp-edge.com/updates/9677">Gigamine</a>, a British battery recycling startup, to reprocess lithium-ion batteries from EVs. In September 2022, Inobat partnered with <a href="https://sp-edge.com/updates/12909">Cosworth</a>, to supply InoBat battery cells for Cosworth’s battery packs in the high-performance automotive marketIn October 2022, InoBat signed an agreement with <a href="https://sp-edge.com/updates/13944">GUS Technology</a>,, for the latter to produce and deliver InoBat’s batteries. During the same month the company signed declarations of intent with the <a href="https://sp-edge.com/updates/13942">Spanish government </a>to construct a new EV battery production facility in Valladolid, Spain. In November 2022, InoBat partnered with <a href="https://sp-edge.com/updates/14473">Ricardo </a>to jointly supply battery cells, modules, and packs to high-performance automotive manufacturers.Funding and financialsIn <a href="https://sp-edge.com/updates/21481">September 2023</a>, InoBat reported that Gotion High-Tech, a Chinese battery developer, acquired a 25% stake in the company. The two companies intend to focus on developing localized battery value chains in Europe, the Middle East, and Africa and will also accelerate R&amp;D across the value chain.In January 2022, InoBat raised an undisclosed amount in a funding round led by Ideanomics, a company promoting electric mobility. The proceeds were to be utilized to support the completion of InoBat’s pilot battery plant in Slovakia by the end of 2022.

InoBat

<div>
 
 Lightyear is a Dutch solar electric car startup. The company develops long-range electric cars that are grid-independent and are equipped with built-in solar panels, permitting longer charge cycles.&nbsp;
 
 
 The company&rsquo;s flagship electric car Lightyear 0 (formerly Lightyear One) has a battery range of 625 km (versus Tesla Model S&rsquo; ~400 km) and has an energy use of 10.5 kWh per 100 kms. Lightyear 0 has a built-in five-square-meter solar panel and was available for pre-order at EUR 250,000 (~USD 272,278) excluding taxes (versus Tesla Model S&rsquo; USD 90,000) as of June 2022.&nbsp;
 
 
 The company reported that Lightyear 0 had begun production in 
 <a href="https://lightyear.one/articles/impact-has-started-lightyear-0-has-gone-into-production">
 November 2022
 </a>
 . However, subsequently in 
 <a href="https://sp-edge.com/updates/15885">
 January 2023
 </a>
 , it announced that the production of Lightyear 0 has been suspended to instead direct resources towards Lightyear 2.&nbsp;
 
 
 Key customers and partnerships
 
 
 The Lightyear 2 model has received over 40,000 subscriptions from individual customers, as well as 21,000 pre-orders from fleet owners such as 
 <a href="https://sp-edge.com/updates/15722">
 Arval
 </a>
 , Athlon, LeasePlan, and MyWheels.
 
 
 In July 2022, Lightyear partnered with 
 <a href="https://sp-edge.com/updates/11799">
 Valmet Automotive
 </a>
 to produce Lightyear 0 at Valmet&rsquo;s manufacturing facility in Uusikaupunki, Finland. A maximum of 946 Lightyear 0&rsquo;s will be produced. Additionally, in August 2022, Lightyear 
 <a href="https://sp-edge.com/updates/12007">
 partnered
 </a>
 with Koenigsegg, a Swedish high-performance sports car manufacturer, to jointly develop innovative EV technologies and optimize Koenigsegg&rsquo;s proprietary technologies to improve the energy efficiencies of Lightyear&rsquo;s second model, Lightyear 2. Additionally, in October 2022, the company acquired the technological design for drivetrain inverters from 
 <a href="https://sp-edge.com/updates/14036">
 Next Level Electronics
 </a>
 .
 
 
 In December 2021, Lightyear announced a 3 year partnership with LeasePlan where it promised 5,000 Lightyear 2 vehicles for its fleet. The company is also partnering with The Sharing Company (Netherlands) to supply 
 <a href="https://sp-edge.com/updates/9823">
 5,000 
 </a>
 Lightyear 2 vehicles for its MyWheels car-sharing platform by 2025.&nbsp;&nbsp;
 
 
 Funding and financials
 
 
 In 
 <a href="https://sp-edge.com/updates/12809">
 September 2022
 </a>
 , Lightyear raised EUR 81 million (~USD 80.4 million) in funding for the production of Lightyear 0 in late 2022 and to also ensure the continued achievement of development milestones for Lightyear 2. In May 2021, Lightyear received a strategic investment of EUR 20 million (~USD 23 million) from the Dutch trading company SHV. In March 2021, the company raised EUR 40.2 million (~USD 48 million) in a venture round led by Zero Point Holding. The funds were expected to support commercialization and growth.
 
</div>

Lightyear

<div>
 
 India-based ION Energy provides battery management system (BMS) hardware and battery intelligence software solutions. The company&rsquo;s &ldquo;Maxwell&rdquo; BMS optimizes lithium-battery use in electric two and three-wheelers, passenger and commercial EVs, industrial EVs, and stationary battery energy storage systems to improve efficiency, safety, and longevity of batteries. The company&rsquo;s battery simulation software Altergo leverages data science and machine learning to extract data from batteries and to mirror its performance on a digital platform for remote monitoring and predictive analysis.
 
 
 As of June 2021, the company had deployed over 60,000 Maxwell units for more than 75 mobility and energy storage customers across 15 countries including India, France, Spain, and the US. Altergo also focused on helping owners and operators of battery fleets to improve the operational efficiency of their assets after deployment. It partnered with the US energy storage developer esVolta to deploy the software across its entire portfolio of battery storage systems totaling 581 MWh.&nbsp;
 
 
 In June 2021, the company raised USD 3.6 million in pre-Series A funding to expand its team, invest in product development, and grow its software business in North America and Europe. 
 
 
 
</div>

ION Energy

Companies developing battery electric cars, SUVs, and pickup trucks

Companies developing commercial BEVs. Includes electric LCVs, trucks, buses, etc.

Companies developing Li-ion EV batteries and battery materials. Includes next-gen advancements in Li-ion batteries (e.g. fast charging batteries, graphite-anode substitutes)

Companies developing EV battery technologies that do not fall under the definition of Li-ion (e.g. solid-state batteries, lithium substitutes, etc.)

Companies offering software solutions to optimize the performance of EV batteries (e.g. charging optimization software, Digital Twin solutions, etc.)

Companies that facilitate EV charging. Includes both charging infrastructure providers and network operators. Also includes vehicle-to-grid technologies.

Battery electric vehicles (BEV) promote sustainable transportation

EV charging networks support the adoption of EVs for sustainable transportation

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 Group14 Technologies, which develops silicon-carbon composite materials for lithium-ion batteries, has started shipping its SCC55 material from a South Korean 10-gigawatt-hour plant. This plant is a joint venture with SK Inc, producing 2,000 tons of SCC55 annually, enough to power between 100,000 and 250,000 electric vehicles.
 These shipments have gone to over 100 customers in the EV and consumer electronics battery manufacturing industry globally. The initial customers for SCC55 are battery manufacturers that account for more than 95% of global battery production. Prominent automakers and consumer electronics companies also feature in the client list.
 SCC55 is projected to hit the market in 2025, and it's engineered to boost battery performance by improving energy density and fast-charging capabilities.
</div> Analyst QuickTake: 
 Commercial shipments of SCC55 from the company’s ​​BAM-1 plant in North America and the JV factory in Asia establish the company as the first and only advanced silicon battery materials manufacturer to offer dual sourcing, a critical requirement for automotive industry suppliers. Moreover, Group14’s BAM-2 plant in Moses Lake, Washington, is expected to add an additional 4,000 tons of capacity in 2025, bringing the total annual capacity for SCC55 material to over 30 gigawatt hours.

Group14 Technologies

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