Sweden’s GREEN14 secures €2M to boost sustainable silicon production and Europe’s raw material supply chain

Stockholm-based GREEN14, which claims to pioneer sustainable silicon production, has secured €2M in funding from Ingka Investments, the investment arm of Ingka Group—the largest IKEA retailer.

Ingka Investments is part of a €7.5B initiative to achieve 100 per cent renewable energy consumption across its value chain. It has invested and committed €4.2B to wind and solar power projects. The investment also includes energy storage, hydrogen as an energy carrier, and grid infrastructure.

This collaboration aims to advance greener silicon production and ensure a stable supply of critical raw materials for the renewable energy sector.

The investment comes amid growing concerns over Europe’s reliance on imported critical raw materials (CRMs), such as lithium, rare earth elements, and silicon. With increasing export restrictions on these resources, strengthening domestic production is seen as vital for energy security and supply chain resilience.

Reinventing silicon and silane production

GREEN14 develops sustainable silicon and critical raw materials using hydrogen plasma technology, which lowers emissions by over 95 per cent compared to conventional methods. 

The company focuses on providing industrial solutions, addressing raw material challenges, and strengthening supply chains during the shift to renewable energy.

According to GREEN14, as silicon is essential for solar panels and other technologies, this innovation could play a key role in reducing the environmental impact of industrial processes.

Adam Podgorski, CEO of GREEN14, says, “Europe’s ability to secure critical raw materials is vital to achieving its climate ambitions and ensuring independence. GREEN14’s technology represents a step forward in more sustainable silicon production, and the investment supports this ambition.”

Capital utilisation

The funding will help GREEN14 develop its pilot facility and accelerate the scaling of its hydrogen plasma technology. 

The agreement also includes a potential off-take deal, allowing Ingka Investments to purchase sustainably produced silicon for solar panel sourcing.  

Frederik de Jong, Head of Renewable Energy at Ingka Investments, says, “By investing in Green14, we are leveraging a royalty-based model with the option to buy more sustainable silicon for our solar panel sourcing at an advantageous rate.”

“This investment underscores the importance of continuous innovation within the renewable energy industry, ensuring a more sustainable and resource-efficient future.”

Brief about Ingka Investments

Ingka Investments is the investment arm of Ingka Group, the largest IKEA retailer. It focuses on long-term value creation, investing in forestland, renewable energy, real estate, circular economy, financial markets, and business acquisitions. 

Its mission is to ensure the financial resilience of Ingka Group, support IKEA Retail’s transformation, promote sustainability, and strengthen the IKEA brand.

Ingka Group operates IKEA retail in 31 markets and accounts for about 90 per cent of IKEA retail sales. It works as a strategic partner in developing IKEA business strategies and owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems BV. 

Ingka Group has three business areas: IKEA Retail, Ingka Investments, and Ingka Centres.