Asian private equity firm ShawKwei & Partners has invested $34.3 million in US-based silicon battery materials manufacturer Group14.

Group14 manufactures an advanced silicon battery technology for lithium-ion batteries used in electric vehicles (EVs) and electronic products and devices. The company claims that its lithium-silicon battery offers higher energy density and faster charging time.

Group14’s shareholders include Porsche AG, BASF, Cabot Corp, Resonac, SK Materials, Microsoft Climate Innovation Fund, Lightrock Climate Impact Fund, Moore Strategic Ventures, Oman Investment Authority, OMERS Capital Markets, and Decarbonization Partners.

“Our investment into Group14 follows the successful exit from ShawKwei’s investment with Schmid Silicon and its related group companies. We see efficient and fast-charging batteries as critical to the clean energy transition in Asia as well as the USA and Europe,” said Kyle Shaw, founder of ShawKwei & Partners.

In July 2023, Group14 acquired Schmid Silicon Technology Holding GmbH (Schmid Silicon) with its technologically advanced silane gas plant in Spreetal (Schwarze Pumpe), Germany. Group14 now has a secure supply of ultra-high-purity and low-carbon silane gas, which is a critical precursor for its silicon battery technology.

The acquisition of the facility will insulate Group14’s customers and partners from potential supply chain disruptions, particularly in the automotive industry, and provide for integrated silicon battery technology manufacturing in Europe, per the statement.

“Group14 is an excellent addition to ShawKwei & Partners’ other energy investments and exemplifies our strategy to invest in cutting-edge science and capabilities to accelerate decarbonization and support the energy transition to a more sustainable future,” Shaw added.

The PE firm’s past investments include the energy engineering solutions business of the CR3 Group; the energy and chemical decontamination business of ZymeFlow; the beauty and health packaging business of the ICONS Group; the Chinese adhesives manufacturer YongLe Tape; the Singapore precision engineering manufacturer Beyonics; among others.

ShawKwei & Partners is a private equity industrial investor with offices in Singapore, Hong Kong, San Francisco, and Shanghai. The firm invests in industrial and service companies with revenues from $50-800 million operating across Asia, Europe, and the US.

In February of this year, DealStreetAsia reported that ShawKwei & Partners is “actively looking” for acquisitions, as it seeks to deploy the remaining $300 million from its fourth fund by the end of this year.