California-based battery materials firm Sila has secured $375 million in a Series G financing round, led by existing investors Sutter Hill Ventures and T. Rowe Price Associates. The funding will facilitate the completion of Sila’s new manufacturing plant in Moses Lake, Washington, scheduled to be operational by Q1 2025. This plant aims to produce ‘Titan Silicon,’ an advanced anode material with high silicon content designed to enhance lithium-ion cell performance by potentially replacing graphite.
Sila plans to commence deliveries of ‘Titan Silicon’ to automotive clients by Q4 2025, with Mercedes-Benz and Panasonic among its initial customers. The company has also inked contracts with three other undisclosed firms. The Moses Lake facility’s expansion is progressing on schedule, aiming to provide ample capacity to meet customer demands. Future expansions are anticipated to scale production to supply materials for up to one million electric vehicles annually.
Gene Berdichevsky, Co-founder and CEO of Sila, emphasized the company’s role in advancing electric vehicle technology, stating, “Every automaker knows the future must be electric […] With Sila, automakers can deliver next-generation EVs that will win over those who expect more from their electric experience.”
Joseph Fath from T. Rowe Price Associates expressed confidence in Sila’s growth trajectory, noting their focus on manufacturing and quality as key strengths for future market leadership.
‘Titan Silicon,’ introduced in 2023, boasts up to 20-25% higher energy density compared to current graphite cells. Sila aims to further enhance this to 40%, reduce charging times to under 10 minutes, and lower battery costs per kilowatt-hour in future iterations of the material.
