Solid Power Inc. is a leading developer of all-solid-state battery technology, established to advance energy storage solutions through innovative cell designs. Located in Louisville, Colorado, the company focuses on creating safer, more efficient alternatives to conventional lithium-ion batteries. Their technology replaces traditional liquid electrolytes with proprietary sulfide-based solid electrolytes, achieving notable performance metrics including energy density up to 560 Wh/kg and life cycles exceeding 1,000 charges.
Battery Technology
The company’s primary innovation centers on three distinct battery technologies. Their Silicon EV Cells demonstrate significant improvements in energy density and efficiency compared to standard lithium-ion cells. The Lithium Metal EV Cells offer enhanced range and performance capabilities, while their Conversion Reaction Cells provide cost-effective solutions with high specific energy output.
Their proprietary sulfide-based solid electrolyte technology forms the foundation of their battery development program. This approach eliminates the need for liquid components, resulting in batteries that are more stable at high temperatures and less susceptible to thermal events. The manufacturing process integrates with existing lithium-ion production infrastructure, allowing for practical scaling of production.
Solid Power’s batteries are designed specifically for automotive applications, with characteristics that address common concerns in electric vehicle adoption, such as range anxiety and charging speed. The company’s technical achievements include developing cells that maintain stability across wide temperature ranges while delivering consistent performance.
Recent Projects
In early 2024, Solid Power extended its joint development agreement with Ford Motor Company through December 2025, focusing on advancing solid-state battery technology. The company reported $6.0 million in revenue for Q1 2024 and made progress on installing a production line for SK On. They are currently improving their A-2 cell design, targeting delivery by year-end 2024. Additionally, Solid Power has been selected to negotiate a potential $50 million grant from the U.S. Department of Energy.
Investors
Solid Power maintains strong financial backing from significant industry players. Ford Motor Company holds 6.449% of shares, while BMW AG owns 5.814%. Other major investors include BlackRock Advisors LLC with 5.799%, Vanguard Fiduciary Trust Co. with 4.125%, and Riverstone Investment Group LLC holding 2.520%. The company has also established strategic partnerships with SK On, featuring agreements for research, development, and electrolyte supply.
Business Details
Location: Louisville, Colorado, USA
Website: https://solidpowerbattery.com
LinkedIn: https://www.linkedin.com/company/solid-power
