Solid Power Enters Strategic Collaboration With Samsung SDI And BMW To Develop And Validate A Demonstration Vehicle Powered By All-Solid-State Battery Technology.

Solid Power, Inc. (NASDAQ:SLDP), a leading U.S.-based developer of solid-state battery technology, is pleased to announce a strategic collaboration with Samsung SDI and BMW to pursue development and validation of a demonstration vehicle powered by all-solid-state battery (ASSB) technology.

This collaboration marks a key step towards commercialization of ASSB technology, bringing together the complementary expertise of three industry leaders. Under this arrangement, Solid Power will provide sulfide-based solid electrolyte to Samsung SDI, which Samsung SDI will integrate into separator and/or catholyte and use to build cells, in each case subject to achievement of technical requirements. These cells will be evaluated based on performance parameters and requirements to be agreed between Samsung SDI and BMW. Ultimately, Solid Power, Samsung SDI, and BMW aim to develop and supply ASSB cells for integration into a demonstration vehicle.

"We are excited to partner with Samsung SDI and BMW to progress the development of all-solid-state batteries," said John Van Scoter, President and CEO of Solid Power. "Our solid electrolyte technology is designed for stability and conductivity, and by working closely with global leaders in automotive and battery innovation, we strive to bring ASSB technology closer to widespread adoption."

Martin Schuster, Vice President Battery Cell and Cell Module at the BMW Group, says: "With Samsung SDI joining our partnership with Solid Power, we gain significant momentum on our path advancing the development of new battery cell technologies. This global collaboration is another proof point of our overarching goal: to be always in a position to offer our customers state of the art battery technology."

All-solid-state battery cells have the potential to offer improved energy density, battery life, and safety performance by replacing liquid electrolytes with solid materials. "Technological competitiveness in batteries would ultimately lead to innovation in electric vehicles," said Stella Joo-Young Go, Executive Vice President of ASB Commercialization Team at Samsung SDI. "Samsung SDI will work closely with strategic partners such as BMW and Solid Power to take the lead in commercialization of ASSB."

The collaboration amongst these parties supports Solid Power's objective to manufacture and sell electrolyte to Tier 1 battery manufacturers and automotive original equipment manufacturers (OEMs).