Solid Power presents its first A-sample cells for automotive qualification
Solid-state battery technology firm Solid Power has recently made first A-1 EV battery cell deliveries to BMW to formally enter automotive qualification. The company is reportedly on-track in making deliveries for the on-going BMW demo car program.
The all solid-state battery cell technology is expected to provide key improvements over the existing liquid-based lithium-ion technology, especially in terms of higher energy density, improved battery safety, prolonged life, and cost-savings.
"It is a reflection of our team's strong execution that we produced and delivered our first A Sample EV cells for BMW a little over a week ago, marking a major milestone for Solid Power," said John Van Scoter, President and Chief Executive Officer of Solid Power.
"We are very excited to make these deliveries, begin the formal automotive qualification process, and continue on our path towards commercialization. These A-1 EV cells will also support BMW's demo car program, which we expect will also be a major proof point for our technology", he added.
"On the electrolyte side, we are producing electrolyte at SP2 in greater volumes and have phased out our SP1 powder production. This puts us solidly on track to continue to increase production and demonstrate our ability to manufacture at scale for potential partners," Van Scoter said.
In its 2023 highlights, Solid Power has said that it has initiated production from its SP2 electrolyte production facility located in Thornton, Colorado. The company has also began delivering electrolyte to potential customers for sampling and feedback.
"As we look ahead, we believe we are well-positioned to achieve our key objectives and drive strategic growth," Van Scoter continued. "We are operating with competitive urgency as we seek to further our leadership position in the market and deliver long-term value for our partners, employees, and shareholders."
Solid Power has reported its 2023 Q3 revenue of $6.4 million, which is an increase of $3.6 million as against that of last year. The first nine months of this year has also been bullish for the company with a revenue of $15.1 million, up by $7.5 million from the same period last year.