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- Sila Secures $375M in Series G Round to Scale Titan Silicon Anode Production
Sila Secures $375M in Series G Round to Scale Titan Silicon Anode Production
Slice of Energy Team
July 08, 2024
Key Highlights:
$375M raised in Series G round led by Sutter Hill Ventures and T. Rowe Price Associates.
Completion of Moses Lake plant in Q1 2025 to deliver Titan Silicon anode material by Q4 2025.
Secured contracts with Mercedes-Benz and Panasonic, plus three undisclosed auto customers.
Titan Silicon offers 20-25% energy density improvement, with future potential up to 40%.
Sila aims to produce enough material to power up to a million cars per year.
Source (Business Wire)
Notable Quotes:
“Our investors share the perspective that the world will transition to fully electric. Every automaker knows the future must be electric and realizes that the path to broader adoption isn’t through cost reduction alone.”
“We have observed Sila’s steady execution since we first invested in the company in 2021. With its disciplined focus on manufacturing and quality, we believe Sila has the persistence and durability to meet future global demand and be a market leader for the long haul.”
Our Take:
Sila's recent Series G funding is a significant milestone in the journey towards next-generation electric vehicles. The completion of the Moses Lake plant will not only enhance the production capacity of their revolutionary Titan Silicon anode material but also ensure adherence to the stringent quality and reliability standards required by the automotive industry. This funding underscores the confidence investors have in Sila’s potential to lead the market with superior battery technology, addressing key consumer concerns like energy density and recharge times. The partnerships with Mercedes-Benz, Panasonic, and other undisclosed customers highlight the market’s readiness to adopt and integrate advanced battery solutions, paving the way for a fully electric future.