Sila Reels In Massive $375 Million Round

<p><strong>ALAMEDA<&sol;strong> &&num;8212&semi; Sila&comma; a next-generation battery materials company&comma; has raised a massive &dollar;375 million Series G round led by existing investors Sutter Hill Ventures and T&period; Rowe Price Associates&comma; Inc&period;&comma; with participation by new outside investors as well as existing investors Bessemer Venture Partners&comma; Coatue&comma; Perry Creek Capital&comma; and others&period;<&sol;p>&NewLine;<p>The funding will secure the completion of the company’s Moses Lake plant in the first quarter of 2025&comma; enabling the delivery of its Titan Silicon anode material to auto customers in the fourth quarter of 2025&period; Mercedes-Benz and Panasonic&comma; as well as three additional customer contracts yet to be publicly disclosed&comma; have been secured and will be fulfilled through Sila’s Moses Lake manufacturing facility&period;<&sol;p>&NewLine;<p>The new funding comes as Sila has already demonstrated technical differentiation and market adoption of Titan Silicon as a high silicon anode capable of replacing most or all of the graphite in a Li-ion cell&period; The round focuses on scale-up as well as ensuring that rigorous automotive quality and reliability standards and delivery timelines are met&period; The build-out of Sila’s Moses Lake manufacturing plant remains on schedule and will deliver enough capacity to serve its multiple customers&period; Additional future expansions at the site will enable Sila to produce enough material to power up to a million cars per year&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Our investors share the perspective that the world will transition to fully electric&comma;” said Gene Berdichevsky&comma; Sila Co-founder and CEO&period; &OpenCurlyDoubleQuote;Every automaker knows the future must be electric and realizes that the path to broader adoption isn’t through cost reduction alone&period; To transform the world and meet consumer expectations&comma; the industry needs to take the next big step on battery performance and charging speeds&period; With Sila&comma; automakers can deliver next-generation EVs that will win over those who expect more from their electric experience&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;We have observed Sila’s steady execution since we first invested in the company in 2021&comma;” said Joseph Fath&comma; portfolio manager at T&period; Rowe Price Associates&comma; Inc&period; &OpenCurlyDoubleQuote;With its disciplined focus on manufacturing and quality&comma; we believe Sila has the persistence and durability to meet future global demand and be a market leader for the long haul&period;”<&sol;p>&NewLine;<p>Titan Silicon was the first commercial next-generation silicon anode technology to enter the market in 2021&period; Today&comma; it delivers up to a 20-25&percnt; energy density improvement over the industry’s best performing graphite cells&comma; enabling automakers to deliver unmatched EV performance&comma; dramatically increasing vehicle range and reducing charge times – pivotal to addressing consumer concern in switching to electric&period; Future releases of Titan Silicon will drive improvement of up to 40&percnt;&comma; recharge times to less than 10 minutes&comma; and lower the &dollar;&sol;kWh cost of batteries&period;<&sol;p>&NewLine;