Battery materials startup Sila has raised $300 million to expand its Washington state factory, aiming to produce enough silicon-carbon anode material for over 100,000 EVs. The material stores up to 40% more energy than traditional graphite anodes and charges faster, offering an alternative to Chinese-dominated graphite supply chains. The funding round was led by Atreides Management and Sutter Hill Ventures, with participation from other investors. Sila began production at its Moses Lake plant last September, with current capacity at 2 GWh of anode material. The expansion will increase output to tens of GWh annually. The company has supply deals with Mercedes and Panasonic, and also serves consumer electronics and drone manufacturers. Beyond EVs, Sila's anodes could benefit grid-scale energy storage, especially for AI data centers needing backup power and peak demand management. Global EV sales are up 27% year over year despite a U.S. slowdown, and Sila's technology could help reduce reliance on Chinese graphite, which controls about three-quarters of the supply chain. The company has 15 years of development behind it and is now focused on scaling production to meet growing demand from automakers and energy storage customers.
