Founded in 2011, Sila Nanotechnologies has spent nearly a decade developing the latest advancement in battery technologies. Aimed at creating a battery that carries more energy at lower cost and weight, it’s now seeing the fruits of its labor.
To date, Sila Nanotechnologies has raised $875 million and amassed a valuation of $3.3 billion. However, just two months ago, the company said they raised $590 million in a Series F funding round led by Coatue and funds advised by T. Rowe Price.
Among them were several other venture capital firms willing to invest in Sila Nanotechnologies.
So how can everyday investors get on board with what seems like a sure bet early on? While Sila Nanotechnologies isn’t publicly traded quite yet, investors may not have to wait long.
Sila Nano's batteries use silicon instead of graphite.
Sila Nanotechnologies sought to solve a glaring issue to current lithium battery technology. By using more efficient silicon rather than traditional graphite, Sila’s batteries possess an instant 20 percent boost over current batteries.
This silicon is ground into a jet-black powder. Then it is brushed in thin layers around the anodes of the lithium battery. Compared to the graphite it replaces, this silicon powder stores 24 times more positively charged lithium ions.
Sila Nanotechnologies co-founder, Gene Berdichevsky, says that this efficiency can extend the range of electric vehicles by 20 percent—and expects to increase that margin to 40 percent in the near future.
Tesla and many other carmakers currently in the electric vehicle space have been desperately trying to solve their battery issues for a while. Sila Nanotechnologies’ new battery could be the answer to their solution.
But the applications don’t just stop at electric vehicles. Sila Nanotechnologies’ battery has immense potential in cell phones and the ever-expanding wearable technology spaces as well. Because their battery is so lightweight, it can make the battery life of just about any daily technology much more efficient.
Sila’s battery applications seem endless, from smartphones and smartwatches to medical devices like pace-makers and RFID tags.
When is Sila Nanotechnologies going public?
When Sila Nanotechnologies secured $590 million in funding on January 26, 2021, they also filed an SEC Ford D.
With hopes of using the proceeds of their IPO to hire an additional 100 employees and begin plans to build a North America-based factory, investors should expect Sila Nanotechnologies to go public during Q2 or Q3 of 2021.
Should you invest in Sila Nanotechnologies stock?
The future looks bright for Sila Nanotechnologies. Positioned to solve a long-needed problem for electric vehicle manufacturers, Sila Technologies has already begun to court the most prominent players in the electric vehicle market.
Automakers like BMW and Daimler have already shown great interest in Sila Nanotechnologies. With nearly every other automaker globally announcing plans to expand their electric vehicle lineups aggressively, the outlook is bright for Sila Nanotechnologies.
By 2030, production needs to reach 2,000 GWh per year to serve ~100 million EVs on the roads. Some promising technologies are being developed in labs, but we can’t wait to address this need. So what’s the path closing the gap? 2/— Gene Berdichevsky (@SilaGene) February 16, 2021
Advanced Li-ion is the answer. Silicon anodes are the answer. It’s possible to achieve up to 40% improvements to performance over traditional Li-ion, and the infrastructure already exists (and more money is pouring into factories as we speak). 3/— Gene Berdichevsky (@SilaGene) February 16, 2021
Not to be overlooked, with companies like Apple and Google venturing further into the wearable technology space, reliance on longer-lasting, lightweight batteries will continue to grow. Because these devices are produced at much higher rates, Sila Technologies will use its new facility to keep up with production.
Good news for early adopters when Sila Technologies stock hits the market.