Business
Second Quarter 2023 Results Reflect Continued Strong Execution
Business, operational and financial update call scheduled for 5:00 p.m. ET today LOUISVILLE, Colo., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Solid Power, Inc.
About this update from Solid Power, Inc.
[{"type":"text","content":"Business, operational and financial update call scheduled for 5:00 p.m. ET today LOUISVILLE, Colo., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Solid Power, Inc. (Nasdaq: SLDP), a leading developer of solid-state battery technology, today announced its financial results for the second quarter ended June 30, 2023. Recent Business Highlights SP2 commenced electrolyte powder production in April and is meeting internal performance and quality targets.Electrolyte sampling yielded positive feedback from industry leaders.Began large-scale production of EV cells, keeping the company on track for 2023 delivery of A-sample EV cells to partners.Appointed John Van Scoter as President and Chief Executive Officer. “Solid Power has made tremendous progress furthering its technology and operational capabilities this year,” said John Van Scoter, President and Chief Executive Officer of Solid Power. “During the year to date, we continued to execute on our joint development agreements and further extended our agreement with Ford. With respect to electrolyte, the team completed the build-out of our electrolyte production line, started and began scaling up production, and is producing electrolyte that meets our internal performance and quality metrics. Most importantly, we are receiving positive feedback from industry leaders and believe there may be an opportunity to accelerate our timeline for future electrolyte sales.” “On the cell development side, the team has significantly improved 20 Ah cell yields and recently began scaling EV cell production. We expect to deliver EV cells to BMW for testing in their demo car program over the coming quarters. We look forward to seeing our technology demonstrated in a full-sized BMW demo vehicle. Our operational focus now shifts to optimizing production processes, improving cell performance, and delivering EV cells to our partners,” Van Scoter said. “Having spoken with our key stakeholders, I believe Solid Power has opportunities to further build upon its leadership position,” Van Scoter continued. “As CEO, I have identified near-term priorities to expand our geographic reach, mature our supply chain capabilities and elevate our investor communications as we execute towards commercialization. I firmly believe that Solid Power’s capital light business model and leading-edge technologies position the company to be a lead...