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Solid Power, Inc. (symbol: SLDP) is at the forefront of developing the next generation of rechargeable batteries, leveraging solid-state chemistry. The company's innovative battery technology promises superior energy density, improved safety, and reduced costs compared to conventional lithium-ion batteries, making it a game-changer in the EV market and beyond.
Based in Louisville, Colorado, Solid Power focuses on all-solid-state battery cell technology, with its core innovation lying in its sulfide-based solid electrolyte. This technology aims to enable extended driving ranges, longer battery life, and enhanced safety for electric vehicles (EVs) while lowering overall costs.
Rather than pursuing a traditional manufacturing approach, Solid Power’s unique business model involves licensing its cell designs and manufacturing processes to leading battery manufacturers and automotive OEMs. This strategy enables the company to rapidly scale its technology by leveraging established production capabilities and market reach of its partners.
Recent Achievements and Projects:
- Production and delivery of A Sample EV cells to BMW, a significant milestone marking the commencement of the formal automotive qualification process.
- Partnership expansion with SK On, including agreements on research and development, line installation, and electrolyte supply. These agreements are expected to generate at least $50 million in revenue upon milestone achievements.
- Operational highlights for 2023 include generating $17.4 million in revenue, a significant increase from 2022, driven by successful joint development agreements.
- Strong liquidity position with total liquidity of $415.6 million as of December 31, 2023, ensuring sustained investment in product development and scaling operations.
Looking ahead, Solid Power aims to consolidate its leadership in battery technology by focusing on strategic growth, technological advancements, and delivering long-term value for its partners, employees, and shareholders. The company’s forward-looking strategy underscores its commitment to driving innovation and maintaining competitive urgency in the rapidly evolving battery market.
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Solid Power, Inc. (Nasdaq: SLDP) announces the timing of its first quarter 2024 earnings release and conference call. The results will be released after market close on May 7, 2024, followed by a conference call at 2:30 p.m. MT. Interested parties can listen to the webcast or join the call live. A recording will be available for replay until May 21, 2024.
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Solid Power, Inc. (SLDP) announces its participation in several upcoming investor conferences, including Janney Fireside Chat, Oppenheimer 9th Annual Emerging Growth Conference, JP Morgan Virtual Battery Series, TD Cowen’s 2nd Annual Sustainability Week, Wolfe 2nd Annual Small and Mid-Cap Conference, and Stifel Formula E Portland ePrix Race Investor Event.
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Solid Power, Inc. (SLDP) announces operational and financial results for 2023, highlighting achievements in electrolyte production, new agreements, and share repurchase. Revenue increased to $17.4 million, with operating loss at $90.6 million and net loss at $65.5 million. The company maintains strong liquidity of $415.6 million. 2024 objectives include expanding electrolyte capabilities, advancing cell designs, and strengthening presence in Korea.
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Solid Power, Inc. (SLDP) will announce its full year 2023 results on February 27, 2024, followed by a conference call. Investors can access the webcast or call in to listen. The replay will be available until March 12, 2024.
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Solid Power, Inc. (SLDP) has authorized a $50 million stock repurchase program, reflecting the company's strong cash position and commitment to creating shareholder value. The program is driven by the belief that the company's shares are undervalued and aims to demonstrate confidence in its progress. Repurchases may be made at management's discretion on the open market or through privately negotiated transactions, with the program expiring on December 31, 2025.
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Solid Power (Nasdaq: SLDP) has deepened its partnership with SK On through three new agreements, expanding its presence in Korea and strengthening the relationship with SK On. The agreements include a research and development license, a line installation arrangement, and an electrolyte supply agreement. The partnership is expected to bring in at least $50 million in revenue for Solid Power. The line installation arrangement will see Solid Power design, procure, and install a new cell manufacturing line at one of SK On's Korea facilities, while SK On will use Solid Power's cell technology for research and development and produce batteries on a new solid-state line. The electrolyte supply agreement will see SK On purchase at least eight metric tons of electrolyte from Solid Power through 2030.
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Solid Power, Inc. (Nasdaq: SLDP) Announces Financial Results and Automotive Qualification Milestone
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Solid Power, a leading developer of solid-state battery technology, will participate in several upcoming investor conferences. These include the Deutsche Bank AutoTech Conference on November 9, 2023, the Janney Clean Energy Investment Symposium from December 5-7, 2023, and the 26th Annual Needham Growth Conference from January 16-19, 2024.
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Solid Power, Inc. (Nasdaq: SLDP) will release its Q3 2023 results on November 7, 2023, after market close. A conference call will be held at 2:30 p.m. MT (4:30 p.m. ET) on the same day. Interested parties can listen to the webcast or join the call. A recording will be available afterwards.
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Solid Power, a leading developer of solid-state battery technology, announced that David Jansen, Chairperson of the Board, will step down on September 1, 2023, and retire from the company on October 8, 2023. John Stephens, Lead Independent Director, will become the new Chairperson. Jansen has been instrumental in building a strong team, opening an electrolyte production facility, and deepening the company's relationship with BMW.
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FAQ
What is the current stock price of Solid Power (SLDP)?
The current stock price of Solid Power (SLDP) is $1.42 as of January 29, 2025.
What is the market cap of Solid Power (SLDP)?
The market cap of Solid Power (SLDP) is approximately 261.7M.
What does Solid Power, Inc. specialize in?
Solid Power, Inc. specializes in developing all-solid-state battery cell technology, primarily for the electric vehicle (EV) market.
What makes Solid Power’s batteries different from conventional lithium-ion batteries?
Solid Power's batteries use solid-state chemistry which offers superior energy density, enhanced safety, and lower costs compared to conventional lithium-ion batteries.
What is Solid Power's business model?
Solid Power licenses its battery cell designs and manufacturing processes to top-tier battery manufacturers and automotive OEMs. It also sells its sulfide-based solid electrolyte for use in solid-state battery cells.
Who are some of Solid Power's key partners?
Solid Power has key partnerships with companies like BMW and SK On. These partnerships involve research and development, manufacturing line installations, and electrolyte supply agreements.
What recent milestones has Solid Power achieved?
Recent milestones include delivering A Sample EV cells to BMW, expanding partnership agreements with SK On, and demonstrating substantial production capabilities for its electrolyte.
What are Solid Power's financial highlights for 2023?
In 2023, Solid Power reported revenues of $17.4 million, an operating loss of $90.6 million, and maintained a strong liquidity position with total liquidity of $415.6 million as of December 31, 2023.
What are Solid Power's key objectives for 2024?
For 2024, Solid Power aims to achieve revenue between $20 million to $25 million, continue technological advancements, and strengthen its market leadership in solid-state battery technology.
How does Solid Power ensure the safety of its batteries?
Solid Power's solid-state batteries are designed to be safer than traditional lithium-ion batteries due to the elimination of flammable liquid electrolytes.
Where is Solid Power headquartered?
Solid Power is headquartered in Louisville, Colorado.
How can investors learn more about Solid Power?
Investors can visit Solid Power’s website at www.solidpowerbattery.com or contact their investor relations via email at investors@solidpowerbattery.com.
Solid Power, Inc.
Nasdaq:SLDP
SLDP Rankings
SLDP Stock Data
261.65M
142.23M
18.66%
26.58%
10.69%
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United States of America
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