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Solid Power, Inc. - SLDP STOCK NEWS

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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 (Nasdaq: SLDP) reported its Q3 2024 results on November 7, 2024. The company was selected by the U.S. Department of Energy for a potential $50 million award to enhance sulfide-based solid electrolyte materials. Development activities have commenced in the Electrolyte Innovation Center (EIC). The company achieved all 2024 milestones under the SK On agreements and extended its joint development agreement with BMW.

Financially, Solid Power reported Q3 2024 revenue of $4.7 million, down $1.7 million YoY, primarily due to the timing of BMW JDA milestones. Year-to-date revenue was $15.7 million, up $0.6 million YoY. Operating expenses increased due to higher production and development costs. Q3 operating loss was $27.6 million, with a net loss of $22.4 million ($0.13 per share). Liquidity stood at $348.1 million as of September 30, 2024.

The company expects 2024 revenue to range between $16 million and $20 million, with total cash investment between $100 million and $120 million.

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Solid Power (Nasdaq: SLDP), a leading developer of solid-state battery technology, has announced the timing for its third quarter 2024 earnings release and conference call. The company will release its Q3 2024 results after market close on Thursday, November 7, 2024. This will be followed by a conference call at 2:30 p.m. MT (4:30 p.m. ET) on the same day.

Investors and interested parties can access the call through a live audio webcast on Solid Power's Investor Relations website at www.solidpowerbattery.com/investor-relations. For those unable to attend the live call, an audio replay will be made available at the same location.

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Solid Power (Nasdaq: SLDP) has been selected by the U.S. Department of Energy for up to $50 million in federal funding negotiations. The company plans to use this funding to install the first globally known continuous manufacturing process of sulfide-based solid electrolyte materials for advanced all-solid-state batteries (ASSBs) at its Thornton, CO facility.

The expansion aims to support Solid Power's technology roadmap and meet anticipated customer demand as they transition to ASSB technology. The company plans to increase its annual electrolyte production capacity from 30 metric tons to 75 metric tons in 2026 and 140 metric tons in 2028. This continuous manufacturing process is expected to significantly lower production costs.

The project is anticipated to create up to 40 full-time manufacturing jobs and up to 100 union construction positions. Solid Power does not expect the DOE funding to materially impact its financial outlook for the current fiscal year.

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Solid Power (Nasdaq: SLDP), a developer of solid-state battery technology, reported its Q2 2024 financial results. The company generated $5.1M in revenue, up $0.2M YoY, and $11.0M for H1 2024, up by $2.3M. However, the operating loss was $26.9M, and net loss was $22.3M, or $0.13 per share. For H1 2024, the operating loss was $52.7M, and net loss was $43.5M, or $0.24 per share. Solid Power's liquidity remains strong at $358.8M as of June 30, 2024. The company highlighted progress in electrolyte sampling, A-2 cell design advancements, and meeting R&D milestones. Despite positive developments, management has revised 2024 revenue expectations to $16M-$20M due to slower revenue recognition from SK On agreements and delays in electrolyte sales.

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Solid Power (Nasdaq: SLDP), a leading developer of solid-state battery technology, has announced its participation in the J.P. Morgan 2024 Auto Conference. The event is scheduled for August 8, 2024, at 10:15 AM Eastern Time in New York, NY.

Investors and interested parties can access a live webcast of the conference through Solid Power's investor relations website. A replay of the event will be available for a time following the conference, providing an opportunity for those unable to attend live to catch up on the company's presentation and insights.

This participation underscores Solid Power's commitment to engaging with investors and showcasing its advancements in solid-state battery technology, which is important for the future of electric vehicles and energy storage solutions.

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Solid Power (Nasdaq: SLDP), a solid-state battery technology developer, has announced the timing for its second quarter 2024 earnings release and conference call. The company will release its Q2 2024 results after market close on Tuesday, August 6, 2024, followed by a conference call at 2:30 p.m. MT (4:30 p.m. ET) on the same day.

Investors can access the live webcast through Solid Power's Investor Relations website or join the call by phone. A recording will be available approximately three hours after the call, accessible via the website or by phone until August 20, 2024.

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Solid Power has appointed Linda Heller as its new Chief Financial Officer and Treasurer, effective immediately, succeeding Kevin Paprzycki. Heller brings extensive experience from the renewable and semiconductor industries, having previously served as CFO for Swell Energy, Deca Technologies, and eSolar.

The company reaffirmed its 2024 guidance, expecting cash used in operations to be $60-$70 million and capital expenditures to be $40-$50 million. Total cash investment for 2024 is projected between $100 million and $120 million, with anticipated revenue in the range of $20 million to $25 million. Solid Power aims to expand its electrolyte capabilities, advance A-2 sample cell designs, and strengthen its presence in Korea.

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Universities Space Research Association (USRA) appointed Lesa B. Roe as Trustee at their annual meeting. With 37 years of experience in aerospace research and executive roles, including at NASA, her expertise will enhance USRA's governance. Roe's leadership background and accomplishments in science and space innovation position her as a valuable addition to the organization.

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Solid Power, a leading solid-state battery technology developer, reported its Q1 2024 operational and financial results. Revenue increased to $6.0 million, with an operating loss of $25.8 million. The company's liquidity position remains strong at $378.9 million. Q1 2024 highlights include strong execution on key milestones, electrolyte sampling expansion, and A-2 cell development. Solid Power aims to strengthen its leadership in solid-state battery tech in 2024.

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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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FAQ

What is the current stock price of Solid Power (SLDP)?

The current stock price of Solid Power (SLDP) is $1.06 as of November 14, 2024.

What is the market cap of Solid Power (SLDP)?

The market cap of Solid Power (SLDP) is approximately 196.6M.

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

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SLDP Stock Data

196.57M
180.39M
22.54%
25.96%
8.85%
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