OMERS Capital Markets Announces Investment in Group14 Technologies Alongside Porsche AG
OMERS Capital Markets today announced its participation in Group14 Technologies’ Series C US$400 million funding round. OMERS investment will be overseen by its global Capital Solutions team, which is focused on identifying and executing on complex opportunities across a number of themes, including decarbonization, clean-tech and life sciences. The team’s goals include fostering long-term partnerships with innovative companies to help them scale up and help shape the economy of the future.
“Group14’s focus on improving the performance of lithium ion batteries positions it to make a crucial contribution to the global decarbonization effort,” said Dmitry Yashnikov, Director with the Alternative Capital Solutions team, which led the transaction for Capital Solutions. “This transaction follows our earlier investment in Sweden’s Northvolt AB and entrenches us in the battery value chain. We are very supportive of the inspiring vision that Rick Luebbe and his team are working to realize,” he added.
“The investment in Group14 is a clear demonstration of how OMERS, as a direct, long-term institutional investor, has the agility to engage with companies in ways that closely support their strategy and growth. We look forward to building similar partnerships with other cutting-edge firms in the years ahead,” said Michael Block, Senior Managing Director, Capital Solutions.
“At Group14, we are committed to elevating all batteries with the transformational performance of silicon to reimagine mobility, aviation, grid storage and beyond. We welcome the support from visionary, like-minded investors like OMERS for our Series C round and look forward to a long-term partnership to enable the electrification of everything,” said Rick Luebbe, CEO and co-founder of Group14.
OMERS was advised by Latham & Watkins, LLP.
About OMERS Capital Markets and OMERS
OMERS Capital Markets is the capital markets investment division of OMERS, one of Canada’s largest defined benefit pension plans. Capital Markets’ diverse programs, flexible investment strategies and specialized teams, including across public equities, private credit, and structured investments, enable it to pursue opportunities that don’t fit into traditional categories. Through its global Capital Solutions team, it identifies and executes on complex opportunities across a number of themes, including decarbonization, clean-tech and life sciences.
Founded in 1962, OMERS manages $121 billion in net assets as of December 31, 2021. OMERS is a jointly-sponsored pension plan, with 1,000 participating employers ranging from large cities to local agencies, and over half a million active, deferred, and retired members. OMERS members include union and non-union employees of municipalities, school boards, local boards, transit systems, electrical utilities, emergency services and children’s aid societies across Ontario. Contributions to the Plan are funded equally by members and employers. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure, and real estate.
About Group14 Technologies
Founded in 2015 to enable the coming electrification of everything, Group14's battery materials breakthrough brings new levels of energy performance to lithium-ion-powered devices and vehicles. Recognized by the Department of Energy for its novel, drop-in ready nanomaterials and reliable industrial-scale process, Group14 serves the global transition to an all-electric future with performance for any use case. Company investors include Amperex Technology Limited (ATL), BASF, Cabot Corporation, Showa Denko and SK materials. Visit us at www.group14.technology.
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Neil Hrab
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