Solid Power selected by DOE for up to $50M award negotiation

seekingalpha09-20

Solid Power (NASDAQ:SLDP) has been selected by the U.S. Department of Energy's (DOE) office of Manufacturing and Energy Supply Chains to begin negotiations for up to $50 million in federal funding ...

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The project aims to install a continuous manufacturing process for solid electrolyte materials for advanced all-solid-state batteries and expand electrolyte production capabilities in Thornton, CO.  This expansion will support the transition from traditional lithium-ion to ASSB technology. In order to meet anticipated demand, 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, through this multi-year capital improvement project. In addition, Solid Power expects the continuous manufacturing process will enable it to produce electrolyte at a far cheaper cost. 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