Draft:Solidpower

• Comment: In accordance with Wikipedia's Conflict of interest policy, I disclose that I have a conflict of interest regarding the subject of this article. Mmhmm2039 (talk) 18:30, 15 November 2025 (UTC)

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Solid Power, Inc. is an American developer of all-solid-state rechargeable batteries, headquartered in Louisville, Colorado. The company focuses on sulfide-based solid electrolytes and lithium-metal battery cells for electric vehicles and other applications, and licenses its cell designs and manufacturing processes to automotive and battery manufacturers.

Solid Power is one of several firms seeking to commercialize solid-state batteries for electric vehicles, and has attracted strategic investments and joint-development agreements with automakers including BMW and Ford, as well as funding from the U.S. Department of Energy’s Advanced Research Projects Agency–Energy (ARPA-E).

History

Solid Power was founded in 2011 as a spin-out from research at the University of Colorado Boulder. The company was established by Douglas Campbell, Conrad Stoldt and Sehee Lee to commercialize solid-state battery technology originally developed under a Defense Advanced Research Projects Agency (DARPA) program focused on doubling the energy density of rechargeable batteries.

According to the University of Colorado, Stoldt and Lee began working on solid-state batteries in response to a 2007 DARPA call for technologies that could dramatically increase energy density. Their work led to larger-format solid-state cells and eventually to the creation of Solid Power, which licensed university intellectual property and secured early non-dilutive funding from ARPA-E, the U.S. Department of Energy and the U.S. Air Force.

Solid Power initially operated as a privately held startup in Colorado’s Front Range region. In 2021, the company announced a US$130 million Series B financing round led by BMW and Ford, alongside Volta Energy Technologies and other investors, with the goal of scaling solid-state battery development for future electric vehicles.

In June 2021, Solid Power agreed to go public via a merger with special purpose acquisition company (SPAC) Decarbonization Plus Acquisition Corporation III in a transaction valuing the combined company at about US$1.24 billion. The deal closed in December 2021, and Solid Power began trading on the Nasdaq Global Select Market under the ticker symbol SLDP on December 9, 2021.

By the early 2020s, Solid Power had expanded facilities in Louisville and Thornton, Colorado. A 2023 profile by the University of Colorado noted the company’s 75,000-square-foot manufacturing facility in Thornton and its role as a “CU Boulder spinout” with major corporate partners and a growing workforce. In 2024 the Colorado governor’s office described Solid Power as a “uniquely Colorado success story” that grew out of the University of Colorado Boulder and went public in 2021.

Technology

Solid Power develops sulfide-based solid electrolytes and all-solid-state lithium-metal battery cells. ARPA-E describes the company’s designs as targeting high-energy, fast-charging cells with a lithium-metal anode and a sulfur composite cathode for electric vehicle applications, aiming for improved energy density, cycle life, safety and cost compared with conventional lithium-ion batteries.

The company’s cells replace flammable liquid electrolyte with a proprietary sulfide-based solid electrolyte, which is expected to be more stable across a broad temperature range and to enable more compact, energy-dense pack designs. Government and academic sources have highlighted the potential of such solid-state cells to improve safety (by reducing the risk of thermal runaway) and to increase driving range for electric vehicles.

ARPA-E’s JOULES program funded a Solid Power project to develop high-energy, fast-charging all-solid-state batteries, including three-dimensional lithium-metal anodes and sulfur cathodes, with a focus on electric vehicle performance metrics. Additional ARPA-E and Department of Energy awards have supported the development of nickel- and cobalt-free chemistries, intended to reduce materials cost and supply-chain risk in future EV batteries.

Facilities and production

Solid Power’s operations are centered in the Denver–Boulder region of Colorado. As of the mid-2020s, the company manufactured solid electrolyte materials and battery components at facilities in Louisville and Thornton.

In 2024 the Colorado Sun reported that Solid Power had received a US$50 million federal grant to expand its Thornton operations, allowing the company to move from batch processing of sulfide-based solid electrolytes to a continuous production line. The expansion was expected to increase annual production capacity from about 30 metric tons to 140 metric tons of solid electrolyte by 2028. The article noted that Solid Power was considering a future mass-production factory closer to major automotive plants in the eastern United States or in South Korea.

According to Colorado’s Office of Economic Development and International Trade, the expansion was projected to add at least 40 new jobs in the state and further establish Colorado as a hub for battery technology companies.

Partnerships

Automakers

Solid Power has entered into several joint-development agreements and strategic partnerships with automotive manufacturers.

In 2017 the company began collaborating with BMW on solid-state battery development for high-performance electric vehicles; this collaboration was later expanded alongside a Series B investment in 2021 in which BMW and Ford co-led a US$130 million financing round. S&P Global Platts and other outlets reported that BMW and Ford sought to secure future supplies of solid-state batteries for electric vehicles through their investment.

In May 2025, BMW announced that large-format all-solid-state battery cells supplied by Solid Power had been integrated into a BMW i7 test vehicle operating in the Munich area. The company described the demonstration as the first road test of “pure ASSB” cells in a BMW vehicle and a milestone in its collaboration with Solid Power. Trade publications reported that the sulfide-electrolyte cells were integrated into BMW’s fifth-generation battery modules for on-road trials.

Solid Power has also partnered with South Korean battery makers. In 2023 it signed agreements with SK On, and in 2025 reports from DigiTimes and other outlets indicated that Samsung SDI joined BMW and Solid Power in a joint validation project for solid-state batteries, making Samsung SDI the second major Korean cell producer to collaborate with the company.

Government and research programs

Solid Power has received multiple awards from U.S. federal agencies to support research and development of solid-state battery technologies. ARPA-E selected the company for early funding under programs to develop all-solid-state lithium-ion batteries, with project descriptions emphasizing low-cost, high-energy cells using nonflammable, nonvolatile materials.

In 2023, the company received an ARPA-E award of up to US$5.6 million to develop nickel- and cobalt-free solid-state cells featuring lithium-metal anodes and sulfur composite cathodes, as part of DOE efforts to reduce reliance on high-cost cathode materials. In 2024, the Colorado Sun reported that Solid Power had secured an additional US$50 million in federal funding to expand electrolyte production in Colorado under U.S. clean energy industrial policy initiatives.

Funding and financial performance

Prior to going public, Solid Power raised venture funding from investors including BMW, Ford, Volta Energy Technologies and others. A 2025 IDTechEx timeline noted that by 2013 the company had secured approximately US$4.5 million in ARPA-E and other non-dilutive funding from U.S. government agencies, followed by equity investments in the late 2010s and early 2020s.

The company’s 2021 SPAC merger with Decarbonization Plus Acquisition Corporation III generated gross proceeds of roughly US$540 million from a combination of cash held in trust and a private investment in public equity (PIPE), according to SEC filings and financial press coverage. BizWest reported that 99 percent of shareholders in the SPAC approved the transaction and that Solid Power became publicly traded on Nasdaq under the symbol SLDP as of December 9, 2021.

In 2024, automotive news site Ford Authority reported that Ford-backed Solid Power generated about US$20 million in revenue in 2024, attributing growth in part to its relationships with Ford and other partners. Financial outlets covering the company’s stock have pointed to its relatively small market capitalization compared to large battery manufacturers and to the high technical and commercialization risks associated with solid-state battery development.

Reception

Solid Power has been cited in academic, industry and policy discussions as one of the leading U.S.-based efforts to commercialize all-solid-state batteries for electric vehicles. Commentators have noted the company’s combination of university-originated research, substantial government grants and strategic partnerships with global automakers as strengths, while also highlighting the challenges of scaling solid-state technology to competitive cost, reliability and manufacturing yield.

Reports on BMW’s i7 test program have been described as a significant demonstration of Solid Power’s technology, placing its cells in a full-sized luxury electric vehicle for real-world evaluation. Financial and technology media coverage has generally characterized Solid Power as a high-risk, high-reward company whose success depends on achieving technical milestones and converting pilot-scale production into large-scale commercial deployments later in the decade.

See also

• Solid-state battery
• Lithium metal battery
• Electric vehicle battery
• Energy storage