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

Solid Power was selected by the U.S. Department of Energy’s 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 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. 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 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.