A123 Systems LLC, a developer and manufacturer of advanced lithium-ion batteries and systems, has invested in Solid Power Inc., a developer of solid-state battery technology. Solid Power’s technology combines an exceptionally high capacity cathode with a high capacity lithium metal anode in combination with a high ionic conductivity solid separator. The battery materials are 100-percent inorganic and possess no flammable or volatile components.
The Solid Power batteries provide substantially higher energy than conventional lithium ion (2-3X greater) while also enabling lower cost systems due to the potential for eliminating many of the costly safety features typically associated with lithium-ion systems.
Solid Power’s technology has been recognized as a game-changer by several global automakers and the investment from A123 will help power the ongoing development of the company’s cell manufacturing strategy.
This investment represents another step in A123’s plan to couple strategic technology investments to its own substantial R&D efforts in order to develop a world-class portfolio of battery technology.
Previously announced transactions under the same program include A123’s recent investment in Wildcat Discovery Technologies and its technical collaboration with Argonne National Labs, which was announced last year. Further technology investments and strategic collaborations are also being developed.
A123 continues to invest in the future and is actively developing a portfolio of high energy density products to complement our historical leadership in high power solutions. We acted early as a series A investor to support a promising solid-state technology and look forward to the commercialization of Solid Power’s innovations as they continue to mature.—Jeff Kessen, A123’s Vice President of Corporate Strategy
Solid Power originated as a spin-out from the University of Colorado Boulder and was established in 2012 by a team of world-class battery researchers and engineers
We are committed to advancing the solid-state battery industry and pushing the limits on development as a way to improve battery-powered devices such as electric vehicles, portable electronics, and other applications. The investment from A123 will help us continue to make significant strides toward large-scale commercialization.—Solid Power’s CEO Doug Campbell