Battery materials company Sila has raised $300 million in a private equity funding round to expand U.S. production of its silicon-carbon anode material and support the planned second phase of its manufacturing facility in Moses Lake, Washington.

Atreides Management and Sutter Hill Ventures led the round. Other participants included 8VC, Bessemer Venture Partners, Matrix Partners, funds and accounts advised by T. Rowe Price Associates, and other new and existing investors.

Sila plans to use the capital to accelerate production of Titan Silicon, its silicon-carbon anode technology, and fund the planned Phase 2 expansion of its Moses Lake plant. The company completed construction of the facility and began operations in the fall of 2025. It is now ramping up production.

The plant occupies a 160-acre site and has an initial Phase 1 production capacity of 2 GWh. Sila said it designed the facility to expand to up to 250 GWh of annual capacity over the next five years.

According to Sila, its silicon-carbon anode material provides higher energy density than conventional graphite anodes. The company said the technology can support smaller, lighter batteries and faster charging.

Sila said the expansion will increase domestic production of battery materials in the U.S., where manufacturers remain dependent on overseas suppliers.

“This funding allows us to further scale our operations and deliver on the promise of American innovation, strengthen the foundation of our domestic manufacturing capabilities and ensure that critical industries have a secure and reliable supply of advanced batteries,” said Gene Berdichevsky, Sila Co-Founder and CEO.

In 2024, the company secured $375 million in a Series G funding round led by Sutter Hill Ventures, an existing investor, and funds and accounts advised by T. Rowe Price Associates.

VC funding raised by energy storage companies in Q1 2026 increased 9% YoY, with $1.2 billion in 26 deals compared to $1.1 billion in 18 deals in Q1 2025, and a 44% increase in deal count, according to Mercom’s Q1 2026 Funding and M&A for Energy Storage report.