Solid Power licenses battery cell design and manufacturing processes to the BMW Group to allow for parallel research and development activities.
Solid Power, Inc.(Nasdaq: SLDP), an industry-leading developer of all-solid-state battery and sulfide-based electrolyte technology, announced it has deepened its partnership with the BMW Group. Under an expanded Joint Development Agreement, Solid Power has granted the BMW Group a research and development license to Solid Power’s all-solid-state cell design and manufacturing know-how.
The broadened relationship provides significant benefits to both companies, including conducting complementary cell development and manufacturing activities at both Solid Power and the BMW Group to further advance the capability of Solid Power’s technology.
The BMW Group intends to duplicate Solid Power’s pilot production lines at its own facility in Germany and produce prototype cells based on Solid Power’s proprietary technology. Prior to the installation of the BMW Group’s prototype line, the BMW Group’s personnel will work hand-in-hand at Solid Power’s facilities to optimize cell manufacturing processes.
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Dr. Derek Johnson, Chief Operating Officer of Solid Power, said:
We could not be more excited about growing our relationship with BMW, a company that has demonstrated a strong commitment to Solid Power’s technology for the past seven years.
“We believe this expanded partnership and increased collaboration is an added vote of confidence in Solid Power’s technology development.”
Frank Weber, Member of the Board of Management BMW AG, Development, said:
BMW remains committed to the pursuit of all-solid-state batteries, a technology which we believe has significant potential for the future.
“We look forward to working even more closely with Solid Power and adding the capability to produce solid-state cells based on Solid Power’s designs at our own pilot facility. We expect this agreement to accelerate the installation of our solid-state prototype line and our companies’ mutual goal of commercializing this promising cell technology.”
The BMW Group has agreed to pay Solid Power $20 million through June 2024, subject to achieving certain milestones. The expanded Joint Development Agreement includes sharing of proprietary all-solid-state electrode and cell manufacturing know-how but does not include a license to intellectual property related to Solid Power’s electrolyte material, which remains its core business.
Once the BMW Group installs its prototype production line, Solid Power expects to supply its electrolyte material to the BMW Group for prototype cell production.
David Jansen, Interim CEO, President and Chair of Solid Power, said:
Expanding our relationship with BMW is further evidence that both companies believe Solid Power is on the right track with its technology development.
“I am encouraged by the progress our team continues to make toward achieving our company’s goals. Over the past several months, we began delivering 20 Ah cells to our partners, including BMW, for initial testing and commenced production of our initial EV cells. We look forward to bringing our electrolyte manufacturing facility online and commencing the formal automotive qualification process.”
About Solid Power, Inc.
Solid Power is an industry-leading developer of all-solid-state rechargeable battery cells for electric vehicles and mobile power markets. Solid Power replaces the flammable liquid electrolyte in a conventional lithium-ion battery with a proprietary sulfide-based solid electrolyte.
As a result, Solid Power’s all-solid-state battery cells are expected to be safer and more stable across a broad temperature range, provide an increase in energy density compared to the best available rechargeable battery cells, enable less expensive, more energy-dense battery pack designs and be compatible with traditional lithium-ion manufacturing processes. For more information, visit http://www.solidpowerbattery.com/.
Highlights:
- Solid Power licenses cell design and manufacturing processes to the BMW Group to allow for parallel research and development activities
- The BMW Group intends to replicate Solid Power’s cell pilot production lines at its facilities in Germany
- Solid Power expects to provide sulfide-based solid electrolyte for the BMW Group’s cell prototype line
Solid Power and BMW Deepen Joint Development Partnership, LOUISVILLE, Colo., December 21, 2022
