washington business
Sila Raises $ 375M to Finish Moses Lake Plant
Battery materials manufacturer Sila Nanotechnologies is on track to open its Moses Lake factory in early 2025 . The company announced $ 375 million in funding this summer to finish construction of the 600,000-squarefoot plant .
Sila makes a silicon-based anode powder to replace the graphite found in most batteries today , enabling longer-lasting and faster-charging electrical vehicle batteries . The Moses Lake factory will supply battery materials to customers such as Mercedes-Benz and Panasonic .
Amazon Adds $ 1.4 Billion to Housing Equity Fund
Amazon has committed an additional $ 1.4 billion to create 14,000 affordable housing units in Seattle , Nashville , Tenn ., and Arlington , Va . The funding is on top of the $ 2.2 billion Amazon has already invested to build and preserve 22,000 affordable units .
The Housing Equity Fund targets families earning moderate to low incomes . Housing developers can apply for low-interest loans or grants across the three communities . fall 2024 19