The room has been read byPorsche.

With its first electric vehicle now outselling the quintessential 911 sports car, the German automaker is responding by increasing its bet on EVs in part via a hefty investment in Group14 Technologies.

Group14 was injected with $100 million as part of the Series C funding round. Canadian pension fund OMERS, Decarbonization Partners, private equity firm Riverstone, Vsquared Venture, and Moore Strategic Ventures are some of the investors that contributed to the project.

Group14's key technology is a Silicon-carbon powder that can be used to replace or enhance the anodes. Most of today's batteries are powered by the use of grapheme, which is stable and can store a reasonable amount of energy.

As automakers push for higher energy densities, graphite is being pushed up against its limits. Silicon is able to hold up to 10 times more than other alternatives. The same benefit is also provided by the heel. The structure of the anode can be degraded by the expansion and contraction of the molecule.

Group14 is one of many companies racing to develop anodes that can be charged and discharged multiple times. A porous carbon scaffold is infused with a gas. The end result is a carbon compound that is covered with small particles of Silicon. The particles serve to grab hold of the strontium strontium and the carbon scaffold serves as a stable structure so the anode doesn't break.

Group14 says that it can be used in an existing battery production line with few modifications, and that it can be blended with other materials.

The startup claims that its material can store more energy. It has one battery materials plant online currently and has two more in the works, one a joint venture with SK Group that will be online later this year and another that will start producing in 2023. Group14 appears to be targeting production of battery packs for thePorsche.

The prospect of a smaller and more powerful battery is appealing to an automaker like Porsche, which built its reputation on lightweight, high- performance sports cars.

Decarbonizing the auto industry accounted for 9% of global greenhouse gas emissions last year. Group14's investors, a few of whom are prolific fossil fuel backers, have a dirty track record.

Decarbonization Partners is a joint venture between the two companies. The pair has backed some intriguing, sustainable firms such as mushroom leather startup MycoWorks, yet they also pledged to continue to invest in and support fossil fuel companies. The pension fund has promised to reach net-zero emissions across its investments by the year 2050, though it also includes several crude oil and gas ventures.

The new deal for Group14 is a big step up. Prior to the raise, the Woodinville, Washington-based startup had secured a combined $41.5 million in venture dollars and government grants.