Solid State Battery Firm Solid Power Raises $20 Million

SEP 13 2018 BY MARK KANE 13

Solid Power promises all solid-state batteries (ASSB).

Established in 2012, Solid Power from Louisville, Colorado that develops all-solid-state batteries (ASSB) has closed $20 million in a Series A investment round.

The company believes that its cells will be safer, more energy dense and cost competitive. Several well-known names in the industry seem to share this belief and participated in the financing: Hyundai CRADLE, Samsung Venture Investment Corp., Sanoh Industrial Co., Solvay Ventures, and A123 Systems. Earlier this year, Solid Power also partnered with A123 Systems and BMW.

By the end of this year, Solid Power intends to construct and install a multi-MWh roll-to-roll facility for preliminary qualification of the company’s solid-state cells for multiple markets including automotive, aerospace and defense. Production is scheduled to begin in 2019.

Currently, Solid Power doesn’t talk much about the specifications of its batteries.

Solid Power

“ASSB have generated substantial interest for mobile power applications due to their ability to provide greater run-time per charge and excellent overall product reliability and safety. The automotive industry, in its pursuit of vehicle electrification, is particularly interested in ASSB to boost vehicle range, while using an overall safer and simpler energy storage system as compared to current state of the art lithium-ion batteries.

Solid Power’s Series A investment will allow the company to scale-up production via a multi-MWh roll-to-roll facility, which will be fully constructed and installed by the end of 2018 and fully operational in 2019. This production capacity will be utilized for preliminary qualification of the company’s solid-state cells for multiple markets including automotive, aerospace and defense. The company’s ultimate objective is to displace lithium-ion as the battery of choice for high performance, mobile power applications.

“In December of 2017, Solid Power announced its 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’s solid-state batteries provide substantially higher energy than conventional lithium-ion while also reducing system-level cost by reducing reliance on many expensive engineering solutions typically deployed in lithium-ion systems to assure safe operation of the battery pack.

The advantages of Solid Power’s solid-state batteries are numerous and include:

  • 2 – 3X higher energy vs. current lithium-ion
  • Substantially improved safety due to the elimination of the volatile, flammable, and corrosive liquid electrolyte as used in lithium-ion
  • Low-cost battery-pack designs through:
    • Minimization of safety features
    • Elimination of pack cooling
    • Greatly simplified cell, module, and pack designs through the elimination of the need for liquid containment
  • High manufacturability due to compatibility with automated, industry-standard, roll-to-roll production”

Solid Power co-founder and CEO Doug Campbell said:

“We are at the center of the ‘electrification of everything’ with ASSB technology emerging as the clear leader in ‘post lithium-ion’ technologies. 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.”

Categories: Battery Tech

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13 Comments on "Solid State Battery Firm Solid Power Raises $20 Million"

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Doggydogworld

A “Multi-MWh facility” can supply **DOZENS** of cars!!!

I am deeply suspicious of any SSB company that focuses on EVs instead of actual markets like drones, cell phones and tablets, etc. Those buyers can pay 10x as much as EV makers and will buy every Wh these guys can make for several years.

People who have a real product sell it. People who have a concept to hype talk about EVs

F150 Brian

No one starts producing with new technology in very high volume.
The key is that they will start.
Don’t be so negative, this *could* be a breakthrough that flips the switch for the industry.
And they may start with EVs because the cell/tablet market seems quite content with their current solution.

Doggydogworld

“No one starts producing with new technology in very high volume.”

My point exactly.

Low volume means high price. $1000/kWh only adds $10 to the price of an iPhone X. Apple would gladly pay that to save an ounce. High end drone makers will pay $500/kWh to double their time aloft. But what EV can afford a $500/kWh battery? (Besides Tesla Roadster, ha 🙂

Look at SolidEnergy (similar name, different company). They produce a 450 Wh/kg cell in low volume today. It goes into drones, solar planes, etc. Sure, they hope to make EV batteries some day, but today they focus on REAL markets because they have a REAL product.

Solid Power will only make test cells next year. How do I know? Because they’re hyping non-markets like EVs. That’s what you do when you don’t have a real product yet.

Pushmi-Pullyu

“…the cell/tablet market seems quite content with their current solution.”

Seriously? Do you know anybody who doesn’t gripe about having to recharge his or her cellphone every single night? Do you know anyone who wouldn’t pay a premium price to get a cellphone battery that didn’t have to be charged more than once a week?

Personally, I don’t know anybody like that. And I see a lot of complaints online from people who use laptops at work, having to stop in the middle of a meeting or presentation to recharge their laptop. That’s more than just an annoyance.

iamta

They have Nothing But Vaporware, as of yet…Later? Who Knows..If these batteries were easy to make Everyone would be making them..

F150 Brian

OMG!
Production is scheduled to begin in 2019?
Elimination of pack cooling?
2 – 3X higher energy vs. current lithium-ion?

Bring it!

John Doe

They must need some kind of cooling to prevent cracking right?
At the university we had small solid state pouch batteries, and they worked fine. I even have one still in use at home. During testing with high stress (high load and charge speeds cycles) a test battery turned hard and brittle after a certain number of cycles. Don’t know the number, just know they mentioned it.
I doubt a normal EV will experience this abuse, but it may reduce the overall life of the battery I’d guess. . . ?

Working solid state batteries that can be made on an industrial scale can not come fast enough.

marshall

Hopefully one of these battery researching companies will actually mass produce their battery in the next couple of years.

Note they are not the only ones in the solid state battery race. A while back Ionic received a large amount of cash from many of the same investors and companies. Plus, I’m sure LG and Panasonic are not setting still either.

Doggydogworld

Yes, there are dozens of them out there. Many are borderline scams, like Sakti.

Kosh

Solid state batteries are the future, and always will be! LOL.

Seriously, I hope somebody can get it done. Will be awesome.

iamta

John Goodenough , the Man that invented the Lithium Battery Can & will get the “Glass” Solid State Battery Done ! If anyone Can, John Goodenough Can.. His Glass Battery Gains Capacity & Power , as you Cycle it . (Charge&Discharge) The More it’s used and the Stronger it Gets ! ..

Pushmi-Pullyu

“This production capacity will be utilized for preliminary qualification of the company’s solid-state cells for multiple markets including automotive, aerospace and defense.”

This smells very strongly of B.S. to me. The first use of commercial solid-state batteries will almost certainly be where small, low-capacity cells can command high prices, such as in high-end cellphones and laptops.

Nobody is going to start out selling better batteries to the bottom end of the market, which is electric cars. Aerospace and defense would be far more likely markets, especially if production is very limited; markets where cost is almost irrelevant if the product is superior in some way that’s useful for aerospace or defense applications.

jasonb

VW CEO said that competitors are ahead of them yesterday in some points, Today he invested 100 M to solid state battery technology company, Go figure.