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Solid Power

Transportation · Louisville, United States · Founded 2011 · Public via SPAC 2021

Solid Power is a leading startup in the energy sector, specializing in the development and production of all-solid-state battery cells. These batteries are designed to be safer, offer higher energy, and cost less than traditional batteries. The company's primary focus is on powering electric vehicles (EVs) that are longer-range, lower-cost, and safer. The company's unique selling point is its use of sulfide-based solid electrolytes, which have the best-known balance of conductivity (ability to move ions quickly) and processability (ability to be produced defect-free on industry standard roll-to-roll battery manufacturing equipment). This technology allows for decreased battery pack volume and mass, longer range per charge, and lower battery pack cost. Solid Power operates in the electric vehicle market, serving clients such as BMW and Ford. The company makes money by developing and selling its innovative battery technology to these automakers. In October 2021, Solid Power announced a partnership with SK Innovation to produce automotive-scale all-solid-state battery cells, further expanding its market reach. The company was initially funded by prominent investors including Hyundai, Volta Energy Technologies, Umicore, Sanoh, A123 Systems, and Solvay. This diverse investment portfolio indicates a strong belief in the company's potential and its role in revolutionizing energy storage and enabling future e-mobility. Keywords: Solid Power, all-solid-state battery cells, electric vehicles, sulfide-based solid electrolytes, conductivity, processability, BMW, Ford, SK Innovation, energy storage.