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Sila Nanotechnologies Stock (SINA)

Sila Nanotechnologies is a provider and manufacturer of higher energy density lithium-ion batteries for electric vehicles.

About Sila Nanotechnologies Stock

Founded

2011

Headquarters

Alameda, CA, US

Total Funding

977M

Industries

Software, Artificial Intelligence, Data and Analytics

Sila Nanotechnologies is a provider and manufacturer of silicon based anodes for lithium-ion batteries. The company partners with leading consumer electronics and automotive OEMs to help accelerate product roadmaps by integrating their higher density materials directly into their partners' battery production processes. By incorporating silicon into battery components, they aim to significantly improve the storage capacity, longevity and performance of lithium-ion batteries used in various applications, including electric vehicles, consumer electronics, and grid storage systems.

The company was founded in 2011 and is headquartered in Alameda, California.

 

 

Investors in Sila Nanotechnologies

Discover investors in Sila Nanotechnologies stock and explore their portfolio companies

Sila Nanotechnologies Management

Leadership team at Sila Nanotechnologies

Co-Founder & Chief Executive Officer

Gene Berdichevsky

Co-Founder & Chief Technology Officer

Gleb Yushin

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Sila Nanotechnologies Key Facts

  • Substantial Funding and Financial Strength: In June 2024, Sila Nanotechnologies successfully raised a $375 million Series G funding round. This capital, which brings the company's total funding to over $900 million, will be used to complete the construction of its Moses Lake, Washington, manufacturing facility. This substantial investment, amid a challenging environment for battery startups, signals strong investor confidence in Sila's technology and its ability to scale production.
  • Progress on Domestic Manufacturing and Supply Chain Security: Sila is on track to complete its Moses Lake, Washington, plant in early 2025. This facility is a critical component of its strategy to establish a secure, domestic supply of its Titan Silicon™ anode material. The company has also signed a long-term supply agreement with REC Silicon for high-purity silane, which is the primary feedstock for its material. These actions position Sila as a key player in strengthening the U.S. clean energy supply chain.
  • Growing Partner Ecosystem and Commercial Traction: Sila's next-generation silicon anode material has gained commercial traction with strategic partnerships. An upcoming version of the Mercedes-Benz G-Class will be the first EV to use the material. Additionally, Sila has a supply agreement with Panasonic Energy for use in its next-generation batteries. These partnerships with leading automotive and battery manufacturers validate the performance and scalability of Sila's technology and demonstrate its strong brand reputation in the industry.
  • Growing Competition and Technology Risk: The silicon anode market is becoming increasingly crowded, with multiple companies, including Amprius Technologies and Tesla, developing their own silicon-dominant solutions.Amprius, in particular, is pushing boundaries with energy density, and its strong patent portfolio and strategy to scale production with a planned GWh plant present a direct competitive threat to Sila's market position. This intense competition puts pressure on Sila to maintain its technological lead and execute its own production scaling efficiently.
  • Supply Chain Disruption from Key Suppliers: Sila Nanotechnologies relies on a stable and domestic supply chain for its manufacturing process. The recent closure of a key plant run by REC Silicon in Moses Lake, Washington, poses a risk to this strategy. While REC Silicon has stated it will honor its contract with Sila, the shutdown of a domestic production hub for silane gas, a critical feedstock, highlights the fragility of the supply chain and could create a dependency on imports if not fully mitigated. This also underscores the challenge of building out a secure, US-based battery supply chain.
  • Macroeconomic Headwinds and High Capital Expenditures: Despite a successful Series G funding round, Sila operates in a capital-intensive sector where other battery startups have struggled. A difficult funding environment for late-stage growth companies with high capital expenditure requirements is noted. This macroeconomic headwind is a risk for Sila's long-term growth and could impact its ability to secure additional funding for future expansions beyond its initial Moses Lake plant.

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