Sila
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Sila Raises $375M to Deliver Titan Silicon™ for Auto Series Production
Sila, a next-generation battery materials company, announces it has raised $375 million in a close of its Series G round led by existing investors Sutter Hill Ventures and funds and accounts advised by T. Rowe Price Associates, Inc., with participation by new outside investors as well as existing investors Bessemer Venture Partners, Coatue, Perry Creek Capital, and others.
The funding will secure the completion of the company’s Moses Lake plant in Q1, 2025, enabling the delivery of its Titan Silicon anode material to auto customers in Q4, 2025. Mercedes-Benz and Panasonic, as well as three additional customer contracts yet to be publicly disclosed, have been secured and will be fulfilled through Sila’s Moses Lake manufacturing facility.
Titan Silicon was the first commercial next-generation silicon anode technology to enter the market in 2021. Today, it delivers up to a 20-25% energy density improvement over the industry’s best performing graphite cells, enabling automakers to deliver unmatched EV performance, dramatically increasing vehicle range and reducing charge times – pivotal to addressing consumer concern in switching to electric. Future releases of Titan Silicon will drive improvement of up to 40%, recharge times to less than 10 minutes, and lower the $/kWh cost of batteries.
Panasonic and Sila Sign Agreement for Titan Silicon, Sila’s anode material to deliver enhanced battery performance for EVs
Panasonic Energy Co., Ltd., a Panasonic Group Company, and Sila, a next-generation battery materials company, today announced the signing of a commercial agreement for Sila’s high-performance nano-composite silicon anode, Titan SiliconTM. The high energy density battery from Panasonic is expected to enable automakers to deliver unmatched EV performance, dramatically increasing vehicle range and reducing charge times. Sila’s anode materials, to be produced in the company’s plant in Moses Lake, WA, will be optimized for Panasonic’s next-generation lithium-ion batteries.
Sila was the first to bring next-generation anode materials to market with the launch of Titan Silicon in the WHOOP 4.0 in 2021. In 2022, the company was the first next-generation battery materials company to sign a supply agreement with a global auto manufacturer, Mercedes Benz. And today, Sila partners with the world’s leading cell manufacturer to redefine what’s possible for EV range and charge times.