Solid Power, a developer of solid-state battery technology, has shipped its first A-sample cells to enter automotive qualification.
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. 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.
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.—John Van Scoter, President and CEO of Solid Power
The company also reported third quarter 2023 revenue of $6.4 million, an increase of $3.6 million compared to the third quarter of 2022, as a result of continued execution under the company’s joint development agreements. Revenue for the first nine months of 2023 was $15.1 million, up $7.5 million from the same period in 2022.