NEWS COMMENTARY

Sila Nanotechnologies plans battery materials factory after $590 million investment

Published:
January 28, 2021
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Sila Nanotechnologies' latest round was led by Coatue and institutional investors. The manufacturing plant will eventually produce enough silicon anode material for a 100 GWh capacity; it is slated to open in 2024 and ramp up production enough to supply materials for BEVs in 2025. Sila Nanotechnologies' silicon nanocomposite materials are designed to be a drop-in replacement for anodes in existing roll-to-roll manufacturing processes. It now has a valuation of $3.3 billion and has secured partnerships with BMW, Daimler, and Amperex Technology Limited. The company notably did not receive significant investment from battery makers or automotive companies, seeming to bet on widespread industry adoption to justify its high valuation.

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