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Solid Power, Inc. (NASDAQ: SLDP) is a developer of all-solid-state rechargeable batteries for electric vehicles and mobile power markets. Headquartered in Louisville, Colorado, the company replaces the flammable liquid electrolyte found in conventional lithium-ion cells with a proprietary sulfide solid electrolyte. This approach aims to enhance safety, thermal stability, and energy density while remaining compatible with existing manufacturing processes.
Corporate Structure
Founded in 2011, Solid Power employs between 51 and 200 people in its research, manufacturing, and corporate functions. The executive team includes President and CEO John Van Scoter and Rene Sotolongo, Senior Director of Global Environmental, Health and Safety. Solid Power operates a cell prototype line under license at BMW Group’s Cell Manufacturing Competence Center in Parsdorf, Germany, as part of a technology transfer agreement following BMW’s equity investment in May 2021.
Solid-state battery by blocks
Recent Developments and News
On May 20, 2025, Solid Power announced the first on-road demonstration of its large-format all-solid-state battery cells in a BMW i7 test vehicle in the Munich area. This development is a result of a joint technical agreement with BMW Group that began in 2016.
On September 5, 2025, the company filed a prospectus supplement (Form 424B5) to sell up to USD 150 million of common stock through an at-the-market offering under an Equity Distribution Agreement with Oppenheimer & Co. This filing outlined the framework for ongoing share sales.
On September 23, 2025, Solid Power submitted Amendment No. 2 to its Schedule 13D/A, disclosing that directors David M. Leuschen and Pierre F. Lapeyre Jr. jointly hold over 15% of shares outstanding, including exercisable warrants.
Between September 23 and 24, 2025, Rene Sotolongo participated in the Future of US Battery & Cleantech Giga Factories Summit in Atlanta, discussing workforce training and safety innovation in gigafactory operations.
On October 6, 2025, SLDP shares closed at USD 5.91, reflecting a 36.81% increase, with 16,801,522 shares traded, compared to an average daily volume of 11,563,129.
Financial and Strategic Analysis
As of October 6, 2025, Solid Power’s intraday market capitalization stood at approximately USD 783 million. The trailing twelve-month revenue was USD 22.67 million, with a net loss of USD 93.53 million and diluted EPS of –USD 0.52. Key valuation metrics include a price-to-sales ratio of 33.75 and a price-to-book ratio of 1.90. At the end of the most recent quarter, total cash balances were USD 230.93 million, and total debt represented 2.37% of equity. Levered free cash flow was negative at USD 47.41 million for the trailing twelve months, indicative of ongoing R&D and scale-up expenditures.
The USD 150 million at-the-market offering is intended to fund the expansion of production capacity and further development of sulfide electrolytes. The company’s collaboration network includes over 300 partners, providing access to global battery cell research and potential supply agreements.
Market Position and Industry Context
Solid Power competes in the developing all-solid-state battery sector, where replacing liquid electrolytes with solid materials may yield 50–75% higher energy density and improved safety while remaining compatible with existing lithium-ion manufacturing lines. Major automakers and battery producers are investing heavily in solid-state research. Solid Power’s ongoing developments, including prototype cell testing in a BMW i7, position the company among a select group of developers progressing toward commercial viability.
tl;dr
On October 6, 2025, Solid Power’s NASDAQ shares increased by 36.81% to USD 5.91 amid 16.8 million shares traded. The company is conducting on-road testing of its all-solid-state cells in a BMW i7 and has initiated an at-the-market equity program to raise up to USD 150 million via Oppenheimer & Co. Upcoming events include the November 4, 2025 earnings release and further vehicle integration trials aimed at scaling production and advancing sulfide electrolyte development.
