Sila Recognized on the Fortune Impact 20 List
The Fortune Impact 20 is a list of startups and small companies focused on solving social and environmental problems. Sila is honored to be listed as #15.
Impact 20 write-up:
Sila Nanotechnologies claims to be the first company to successfully commercialize a silicon anode, replacing graphite as a key material in lithium-ion batteries. Compared to graphite anodes, Sila’s Titan Silicon anode delivers up to a 40% boost in energy density and a 15% reduction in weight—which enables longer battery life and reduced charging time. Sila’s production process also reduces carbon emissions by up to 70% compared to graphite anodes—a key point at a time when the energy industry is trying to decarbonize its supply chain.
Sila already powers consumer electronic devices like the WHOOP 4.0 fitness tracker. It now has set its sights on the auto industry. In May 2022, the company purchased a 600,000-square-foot manufacturing plant in Moses Lake, Wash., with enough production capacity to power 1 million EVs over the next five years. In the same month, Mercedez-Benz tapped Sila to power its G-Class SUV, beginning “mid-decade”—which could make it the first car ever to be powered by batteries with a silicon anode.
Sila’s Series F round in January 2021 raised $590 million, valuing the company at $3.3 billion. Coatue led the round.