Solid-state battery startup moves to scale production

September 17, 2018 //By Rich Pell
Solid-state battery startup moves to scale production
Soild-state battery startup Solid Power (Louisville, CO) has announced that it has raised $20 million in Series A funding, enabling it to scale up its production of its all solid-state batteries, which combine a cathode, metallic lithium anode, and an inorganic solid electrolyte layer.

Its batteries, says the company, have generated "substantial interest" for mobile power applications - particularly in the automotive industry - given their ability to provide greater run-time per charge and excellent overall reliability and safety. The new investment will allow the company to scale up production via a multi-MWh roll-to-roll facility, which is expected to be fully operational in 2019.

The production capacity will be used for preliminary qualification of the company's solid-state cells for multiple markets, including automotive, aerospace, and defense. The ultimate objective, says the company, is to displace lithium-ion as the battery of choice for high-performance, mobile power applications.

"We are at the center of the 'electrification of everything' with ASSB technology emerging as the clear leader in 'post lithium-ion' technologies," says co-founder and CEO Doug Campbell. "Solid-state batteries are a game changer for EV, electronics, defense, and medical device markets, and Solid Power's technology is poised to revolutionize the industry with a competitive product paying special attention to safety, performance, and cost."

Investors participating in the round included Hyundai CRADLE, Samsung Venture Investment Corp., Sanoh Industrial Co., Solvay Ventures, and A123 Systems. In December of last year, Solid Power announced a partnership with the BMW Group to jointly develop Solid Power's solid-state batteries for electric vehicle applications and to tailor Solid Power's technology toward automotive requirements for high-performance electric vehicles.

Solid Power

Related articles:
Hyundai invests in U.S. solid-state battery startup
Lithium-sulfur licensing deal takes aim at Li-ion battery market
Solid-state electrolytes coming to car batteries
Solid-state lithium-ion batteries to dominate, says report

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