Solid Power

What Solid Power does

Solid Power, Inc. (NASDAQ: SLDP) is a pre-commercial U.S.-based developer of sulfide-based all-solid-state battery (ASSB) cells, founded in 2011 as a University of Colorado Boulder spinout and headquartered in Louisville, Colorado. The company's core technology is a proprietary sulfide solid electrolyte platform that replaces the flammable liquid or gel electrolyte used in conventional lithium-ion batteries with a solid-state material offering high ionic conductivity and compatibility with industry-standard roll-to-roll lithium-ion manufacturing equipment. Solid Power's product portfolio includes three cell designs — Silicon EV Cell (390 Wh/kg, 1,000+ cycle life), Lithium Metal EV Cell (440 Wh/kg), and Conversion Reaction Cell (560 Wh/kg) — supported by in-house sulfide electrolyte production at pilot scale and an exclusive license from Oak Ridge National Laboratory.

The company's business model is asset-light and IP-driven, generating revenue from selling sulfide solid electrolyte materials to battery cell manufacturers, licensing proprietary cell designs and manufacturing processes to automotive OEMs, performing line installation and site acceptance testing services for partners, and collecting U.S. Department of Energy grants. Solid Power serves two primary B2B customer segments: electric vehicle manufacturers (BMW, Ford) seeking higher energy density and safer batteries, and battery cell manufacturers (Samsung SDI, SK On) seeking access to ASSB technology and manufacturing know-how. Cell production lines are operational at partner facilities in Colorado, Germany, and South Korea, and SK On's pilot line passed site acceptance testing in April 2026.

FY2025 revenue was $21.7M (up modestly from $20.14M in 2024), with a net loss of $93M reflecting the pre-commercial R&D-intensive stage. The company explicitly states no material product revenue is expected before 2028–2030. Liquidity stood at $435.3M as of March 31, 2026 following a $130M registered direct offering in January 2026, providing multi-year runway to advance its continuous electrolyte pilot line (commissioning targeted end-2026) and commercial-scale Korean electrolyte production targeted for 2028.

Name

Solid Power

Legal name

Solid Power, Inc.

Website

https://solidpowerbattery.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

251–500 employees

Short description

Solid Power develops sulfide-based all-solid-state battery cells and electrolyte materials, selling to cell manufacturers and licensing designs to automotive OEMs. Pre-commercial company serving EV makers BMW, Ford, Samsung SDI, and SK On.

Ownership category

akta.pro rank

Product category

Solid-State Battery Technology

NAICS

Battery Manufacturing (33591)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Solid-State Battery Materials & Cell Manufacturing (EUAFABAH)

akta.pro secondary industries

Battery Modules & Packs (Industrial/Commercial pack assembly) (IMAGAHAB), Battery & Energy Storage High-Purity Chemicals (Electrolyte salts/solvents, additives) (IMAEAKAM), Battery Cell Manufacturing (EV) (IMACACAB)

Keywords

• Solid-state batteries
• Sulfide solid electrolytes
• EV battery cells
• Battery materials licensing
• Automotive battery technology

Headquarters

HQ city

Louisville

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure

Revenue model

1. Electrolyte Sales: Selling proprietary sulfide-based solid electrolyte materials to battery cell manufacturers including Samsung SDI, SK On, and other strategic customers.
2. Cell Design Licensing: Licensing proprietary all-solid-state battery cell designs and manufacturing processes to automotive OEMs and battery manufacturers for integration into their production lines.
3. Government Grants: Grant income from U.S. Department of Energy agreements including $50M potential award for sulfide electrolyte production and $5.6M for nickel/cobalt-free battery development through EVs4ALL program.
4. Contract Development Services: Revenue from line installation agreements with partners such as SK On, including site acceptance testing and pilot production line development.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Solid Power develops and produces sulfide-based solid electrolyte materials and all-solid-state battery cell designs for sale and licensing to battery cell manufacturers and automotive OEMs. The technology replaces flammable liquid electrolyte with a proprietary solid sulfide electrolyte, enabling higher energy density (390-560 Wh/kg), improved safety, and compatibility with industry-standard roll-to-roll lithium-ion manufacturing equipment.

Product overview

Solid Power operates a platform-plus-products architecture centered on its proprietary sulfide-based solid electrolyte technology. The core offering is the All-Solid-State Battery Platform, which enables the company to sell electrolyte materials to cell manufacturers and license cell designs to automotive partners. Three distinct EV battery cell products comprise the portfolio: Silicon EV Cell (390 Wh/kg, 930 Wh/L, 1,000+ cycle life), Lithium Metal EV Cell (440 Wh/kg), and Conversion Reaction Cell (560 Wh/kg, 785 Wh/L). All cells leverage Solid Power's sulfide solid electrolytes and are designed to be manufactured using existing lithium-ion production equipment. The company maintains two Colorado production facilities and technology development activity spanning three continents through partnerships with BMW, Ford, Samsung SDI, and SK On.

Differentiator

Problem solved

Functional benefit

Products and services

• Sulfide-Based Solid Electrolytes Proprietary sulfide-based solid electrolyte materials serving as the key ingredient for all-solid-state batteries, offering the best combination of ionic conductivity, manufacturability, and cell-level performance among solid electrolyte classes. Sold to battery cell manufacturers including Samsung SDI and SK On.
• All-Solid-State Battery Platform Solid Power's proprietary all-solid-state battery technology platform that replaces flammable liquid electrolyte with solid sulfide-based electrolyte, enabling safer, higher-energy-density batteries compatible with existing lithium-ion manufacturing infrastructure. Designed for electric vehicle applications.
• Silicon EV Cell All-solid-state battery cell featuring high-content silicon anode achieving 390 Wh/kg energy density, 930 Wh/L volumetric energy density, and 1,000+ cycle life, designed for electric vehicle applications.
• Lithium Metal EV Cell All-solid-state battery cell featuring lithium metal anode achieving 440 Wh/kg energy density for enhanced range and performance in electric vehicle applications.
• Conversion Reaction Cell All-solid-state battery cell featuring conversion-type cathode achieving 560 Wh/kg energy density and 785 Wh/L volumetric energy density, targeting ultra-low cost and high specific energy for EV applications.
• Electrolyte Licensing and Supply Business model of selling sulfide solid electrolytes to cell manufacturers and licensing proprietary cell designs and manufacturing processes to automotive and battery producers for integration into their production lines.

Quantifiable outcome

• 15-35% cost advantage over lithium-ion at pack level
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and supporting.

• Samsung SDIcoreStrategic or Co-development Partner · 30 October 2025Samsung SDI joined BMW and Solid Power in a trilateral collaboration to validate all-solid-state battery technology. Under the partnership, Samsung SDI supplies battery cells using Solid Power's solid electrolyte, while BMW develops modules and packs for integration into next-generation evaluation vehicles. The collaboration aims to evaluate ASSB performance and establish a commercial value chain.
• BMW GroupcoreStrategic or Co-development Partner · 3 May 2021BMW Group led the $130 million Series B funding round and has extended joint development agreements with Solid Power to develop all-solid-state batteries for high-performance EVs. BMW has integrated Solid Power's ASSB cells into BMW i7 test vehicles and is developing modules and packs for evaluation. Partnership expanded through joint evaluation agreement with Samsung SDI in 2025.
• Ford Motor CompanycoreStrategic or Co-development Partner · 3 May 2021Ford Motor Company led the $130 million Series B funding round and has joint development agreements with Solid Power to secure all-solid-state batteries for future electric vehicles. Ford has been an early investor and development partner since 2021.
• SK OncoreStrategic or Co-development PartnerSK On partnered with Solid Power to manufacture automotive-scale all-solid-state batteries utilizing Solid Power's sulfide-based solid electrolyte, proprietary cell designs, and production processes. The partnership includes a line installation agreement with pilot cell manufacturing line in Korea, completed site acceptance testing in April 2026. Companies exploring partnership for commercial-scale electrolyte production in Korea targeting 2028.
• University of Colorado BouldersupportingStrategic or Co-development PartnerSolid Power was spun out from the University of Colorado Boulder in 2011 with funding from DARPA. The university remains a research hub for battery innovation spawning multiple successful spinout companies.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• QuantumScape: Public solid-state battery developer focused on lithium-metal ASSB cells for EVs; closest direct competitor to Solid Power, pursuing a similar licensing-and-partnership model with automotive OEMs (notably Volkswagen/PowerCo).
• Samsung SDI: Major lithium-ion cell manufacturer and Solid Power partner that is also independently developing its own solid-state battery technology; comparable as both a customer/licensee of Solid Power and a competing developer targeting the same OEM customers.
• SK On: Large EV battery cell manufacturer and active Solid Power partner running a pilot ASSB line using Solid Power's electrolyte and cell designs; comparable as a partner-cum-competitor developing its own solid-state roadmap for automotive OEMs.

Broad incumbents

• Toyota Motor Corporation: One of the largest automotive OEMs with a long-standing in-house solid-state battery program and substantial patent portfolio in sulfide and oxide electrolytes; comparable as a downstream customer alternative that may bypass external ASSB developers.
• LG Energy Solution: Top-tier global EV battery manufacturer with ongoing solid-state development programs and existing partnerships with major OEMs; comparable as a vertically integrated incumbent that could either license Solid Power technology or compete against it.
• CATL: World's largest battery manufacturer, actively developing both凝聚态 and solid-state chemistries and supplying most major global OEMs; comparable as a dominant incumbent whose roadmap pace materially affects the addressable window for ASSB specialists.

Emerging players

• Amprius Technologies: Public developer of silicon-anode lithium-ion batteries targeting EVs, aviation, and defense; comparable as an advanced battery startup pursuing higher energy density but with a different electrolyte strategy (liquid rather than solid).
• Enovix: Public advanced lithium-ion battery developer with a 3D silicon-anode architecture focused on consumer electronics and EVs; comparable as a public, US-listed next-generation battery company competing for OEM design wins in higher energy density applications.
• Microvast Holdings: Public developer and manufacturer of lithium-ion battery cells and packs for commercial vehicles, energy storage, and specialty applications; comparable as a publicly traded US battery technology company targeting similar transportation and stationary end markets.
• ESS Tech: Public developer of iron-flow long-duration energy storage batteries; comparable as a US-listed advanced battery technology company targeting stationary storage applications, an adjacent use case to Solid Power's secondary energy storage segment.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SolidPowerInc
• YouTubeyoutube.com/channel/UC_bF8Dd0zm8QrM-xs_4EIEg
• LinkedInlinkedin.com/company/solid-power
• Facebookfacebook.com/solidpowerbattery

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds12 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Solid Power