Solid Power Chosen for $50 Million Award Negotiation From Department of Energy

MT Newswires Live09-20

Solid Power (SLDP) said Friday it was selected to begin award negotiations with the US Department of Energy for up to $50 million in federal funding, which the company plans to use for installing a novel sulfide-based manufacturing process at its Thornton, Colorado facility.

The project is expected to increase Solid Power's annual electrolyte production capacity from 30 metric tons to 75 metric tons in 2026 and to 140 metric tons in 2028, the company said.

Solid Power said it expects to hire up to 40 full-time employees for manufacturing operations over the course of the project.

Shares of the company were up over 4% in recent Friday premarket activity.

Price: 1.3900, Change: +0.06, Percent Change: +4.51

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