Solid Power Selected by U.S. Department of Energy for Up to $50 Million Award Negotiation for Continuous Production of Sulfide-based Solid Electrolyte Materials for Advanced All-Solid-State Batteries
20 Settembre 2024 - 1:20PM
Solid Power, Inc. (Nasdaq: SLDP), a leading developer of
solid-state battery technology, today announced it was selected by
the U.S. Department of Energy’s (“DOE”) Office of Manufacturing and
Energy Supply Chains to begin award negotiations for up to $50
million in federal funding under the Bipartisan Infrastructure Law.
With this project, Solid Power intends to install the first
globally known continuous manufacturing process of sulfide-based
solid electrolyte materials for advanced all-solid-state batteries
(ASSBs) and expand its electrolyte production capabilities at its
Thornton, CO facility. The expansion is designed to further the
Company’s technology roadmap and support anticipated small volume
programs of current and future customers as they begin to
transition from traditional lithium-ion to ASSB technology.
Solid Power’s leading sulfide-based solid electrolyte material
is a key component to enable the anticipated performance advances
of ASSBs, including improvements in energy density, safety,
high-temperature stability, and cost. Solid Power currently has the
capability to produce 30 metric tons of electrolyte per year.
Through this multi-year capital improvement project, Solid Power
plans to significantly increase its annual production capacity,
first to 75 metric tons in 2026 and then to 140 metric tons in
2028, in order to meet anticipated demand. In addition, Solid Power
expects the continuous manufacturing process will allow it to
produce electrolyte at a significantly lower cost, compared to
today’s process.
“We view our selection for funding by the U.S. Department of
Energy as validation of the promise sulfide-based all-solid-state
batteries hold,” said John Van Scoter, President and Chief
Executive Officer of Solid Power. “By adopting a continuous
manufacturing process for our electrolyte, we expect to be able to
meet anticipated near-term demand and set Solid Power up to become
the leading global producer of sulfide-based solid
electrolyte.”
Over the course of the project, Solid Power expects to hire up
to 40 full-time employees for manufacturing operations at its
Thornton, CO facility, and its contractors/subcontractors expect to
employ union labor for up to 100 construction positions for this
endeavor. The project demonstrates the Company’s strong commitment
to local communities.
The Company does not anticipate any DOE funding to have a
material impact on its financial outlook for this fiscal year,
which it last provided on August 6, 2024.
About Solid Power, Inc.Solid Power is
developing solid-state battery technology to enable the next
generation of batteries for the fast-growing EV and other markets.
Solid Power’s core technology is its electrolyte material, which
Solid Power believes can enable extended driving range, longer
battery life, improved safety, and lower cost compared to
traditional lithium-ion. Solid Power’s business model – selling its
electrolyte to cell manufacturers and licensing its cell designs
and manufacturing processes – distinguishes the company from many
of its competitors who plan to be commercial battery manufacturers.
Ultimately, Solid Power endeavors to be a leading producer and
distributor of sulfide-based solid electrolyte material for
powering both EVs and other applications. For more information,
visit http://www.solidpowerbattery.com/.
About DOE’s Office of Manufacturing and Energy Supply
ChainsMESC plays a critical and unique role in catalyzing
investments in America’s energy future to support the re-shoring,
skilling, and scaling of U.S. manufacturing across energy supply
chains. MESC serves as the frontline of clean energy deployment and
accelerates America’s transition to a resilient, equitable energy
future through data-driven investments in manufacturing capacity
and workforce development. Learn more at: www.energy.gov/mesc or
LinkedIn.
Forward-Looking StatementsAll statements other
than statements of present or historical fact contained herein are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including Solid
Power’s or its management team’s expectations, objectives, beliefs,
intentions or strategies regarding the future. When used herein,
the words “could,” “should,” “will,” “may,” “believe,”
“anticipate,” “intend,” “estimate,” “expect,” “project,” “plan,”
“outlook,” “seek,” the negative of such terms and other similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain such
identifying words. These statements include our plans related to
the expansion of our electrolyte production capabilities, the
receipt of DOE funding, and the number of jobs to be created and
our strategy, expansion plans, market opportunity, future
operations, future operating results, estimated revenues, losses,
projected costs, prospects, and plans and objectives of management.
These forward-looking statements are based on management’s current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law,
Solid Power disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
hereof. Readers are cautioned not to put undue reliance on
forward-looking statements and Solid Power cautions you that these
forward-looking statements are subject to numerous risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of Solid Power, including the
following factors: (i) risks relating to the uncertainty of the
success of our research and development efforts, including our
ability to achieve the technological objectives or results that our
partners require, and our ability to commercialize our technology
in advance of competing technologies; (ii) rollout of our business
plan and the timing of expected business milestones; (iii) risks
relating to the non-exclusive nature of our original equipment
manufacturer and other partner relationships and our ability to
manage these business relationships; (iv) our ability to negotiate
and execute commercial agreements with our partners on commercially
reasonable terms; (v) our ability to protect and maintain our
intellectual property, including in jurisdictions outside of the
United States; (vi) broad market adoption of battery electric
vehicles and other technologies where we are able to deploy our
technology, if developed successfully; (vii) our success attracting
and retaining our executive officers, key employees, and other
qualified personnel; (viii) changes in applicable laws or
regulations; (ix) risks relating to our information technology
infrastructure and data security breaches; (x) risks relating to
our status as a research and development stage company with a
history of financial losses with an expectation of incurring
significant expenses and continuing losses for the foreseeable
future; (xi) our ability to secure government contracts and grants
and the availability of government subsidies and economic
incentives; (xii) delays in the construction and operation of
additional facilities; and (xiii) risks relating to other economic,
business, or competitive factors in the United States and other
jurisdictions, including supply chain interruptions and changes in
market conditions, and our ability to manage these risks and
uncertainties. Additional information concerning these and other
factors that may impact the operations and projections discussed
herein can be found in the “Risk Factors” sections of Solid Power’s
Annual Report on Form 10-K for the year ended December 31, 2023 and
other documents filed by Solid Power from time to time with the
Securities and Exchange Commission (the “SEC”), all of which are
available on the SEC’s website at www.sec.gov. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Solid Power
gives no assurance that it will achieve its expectations.
Contactsinvestors@solidpowerbattery.compress@solidpowerbattery.com
Source: Solid Power, Inc.
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