Sila has landed a $1.4 billion loan from the U.S. Department of Defense to help the U.S.-based startup expand production of its silicon-carbon battery material.
The loan, which was announced Friday, arrives as U.S. battery buyers, from automotive companies to defense contractors, struggle to procure battery materials that are made outside of China. Most of today’s lithium-ion battery anodes use graphite, and the supply chain for the material is dominated by Chinese companies.
Originally reported by TechCrunch. Read the full story at the original source.
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