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Daimler Invests $100 Million in Calif. Battery Developer
Daimler AG reportedly has spent $100 million to acquire a 10% stake in a California-based developer of next-generation battery technologies.
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Daimler AG reportedly has spent $100 million to acquire a 10% stake in a California-based developer of next-generation battery technologies.
The investment is part of a $170 million funding round that values 8-year-old Sila Nanotechnologies Inc. at more than $1 billion, the Financial Times reports. The company’s founder-CEO is Gene Berdichevsky, a very early employee of Tesla Inc.
Daimler, which describes Sila Nano’s technology as “very promising,” says it will gain a seat on Sila Nano’s board.
Sila has developed a silicon-based material to replace the usual graphite in a battery’s anode, cutting costs and boosting the amount of energy a battery can store by about 20%, according to the company. It also claims its material is compatible with existing lithium-ion battery designs, making adoption easier.
Sila already has agreements to supply its battery material to BMW and Daimler.
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