Represents the first commercial deal for REC's silane in the EV battery market and ensures US-supply of silane for production of Sila's Titan Silicon anode material.
Sila Nanotechnologies, Inc. ("Sila"), a next-generation battery materials company, today announced a multi-year supply agreement with a wholly owned subsidiary of REC Silicon ASA ("REC"), a leading innovator in solar-grade silicon and silicon materials.
Under the terms of the agreement, REC will supply Sila with high-quality, US-produced silane for use in the production of Sila's breakthrough nano-composite silicon anode material, Titan Silicon. The agreement also ensures a reliable supply of silane through 2031, supporting Sila's commitments to deliver Titan Silicon to customers, including Mercedes-Benz and Panasonic, as well as additional companies yet to be publicly disclosed.
Additionally, this agreement marks a significant milestone for both companies. It represents the first commercial agreement for REC's high-purity Signature Silane® for use in the automotive segment and ensures domestic supply of a critical component to anode materials production for Sila.
"Our agreement with REC Silicon is a critical step in securing the raw materials needed to deliver Titan Silicon to our auto customers for the long-haul," said Gene Berdichevsky, Co-founder and CEO at Sila. "It also marks the importance of ensuring domestic production and supply of a critical next-generation material to support US manufacturing leadership in clean energy."
"We appreciate the opportunity to support Sila and their production of next-generation battery materials," said Kurt Levens, CEO at REC Silicon. "This agreement demonstrates the increasing demand for high-purity silicon materials in the clean energy sector, and we are confident that our collaboration will play a key role in accelerating the transition to electric vehicles and highlighting the benefits of working with an experienced, reliable and consistent silane producer."
About Sila
Founded in 2011, Sila is a next-generation battery materials company with the mission to power the world's transition to clean energy. Sila shipped the world's first commercially available silicon anode for lithium-ion batteries in 2021, and has since enabled battery performance enhancements in multiple consumer electronics devices. Sila's Titan Silicon anode will next power electric vehicles, including an upcoming version of the Mercedes-Benz G-Class and will be used within Panasonic Energy's next-generation lithium-ion batteries, which will also serve the automotive industry. Committed to American leadership in clean energy production, Sila is scaling its technology at its manufacturing facility in Moses Lake, Washington. Major financial investors include 8VC, Bessemer Venture Partners, Canada Pension Plan Investment Board, Coatue, Matrix Partners, Sutter Hill Ventures, and funds and accounts advised by T. Rowe Price Associates, Inc.
About REC Silicon
REC Silicon is a global leader in silane based high purity silicon materials. We combine 40 years of experience and best-in-class proprietary technology to deliver on customer expectations. Our two U.S. based plants have a combined production capacity of more than 30,000 MT of high purity silane gas. Our Signature Silane® based products are used in everyday quality of life technologies, emerging technologies, cutting edge power and memory devices, high-voltage transmission, as well as renewables. REC Silicon is headquartered in Lysaker, Norway and listed on the Oslo stock exchange under the ticker: RECSI.
For more information, go to: www.recsilicon.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20240919866246/en/
Contacts:
Maia Gryskiewicz
SutherlandGold for Sila
sila@sutherlandgold.com
