Solid Power has partnered with SK Innovation to manufacture automotive-scale all-solid-state batteries using Solid Power’s sulfide-based solid electrolyte, proprietary cell designs and production processes. SK Innovation has also agreed to invest $30 million in Solid Power.
The two companies will cooperate on cell development, validation and production in order to enable Solid Power to deliver pre-commercial cells to its automotive customers for qualification testing. Solid Power will license its proprietary technology to SK Innovation to enable integration of its sulfide-based solid electrolyte material and cell designs into SK Innovation’s existing cell production environment.
Solid Power says its Silicon EV Cell will be safer, provide longer range, and cost less than today’s lithium-ion batteries.
“The partnership with SK Innovation is designed to validate that Solid Power’s all-solid-state production processes are scalable and compatible with existing lithium-ion production technology,” said Doug Campbell, CEO and co-founder of Solid Power. “The ability to collaborate with a global leader in lithium-ion cell production is key to our go-to-market strategy and meeting anticipated demand.”
“To successfully develop and launch our cell products, we follow the standard automotive [Advanced Product Quality Planning] process, which will ensure our cell design meets automotive partner specifications, meets the highest quality standards, and is manufacturable at high rates with high yields,” said Derek Johnson, COO at Solid Power. “The ability to quickly transfer production know-how and cell designs to a partner with lithium-ion production at GWh scale saves on capital expenses, in line with Solid Power’s capital-light business model.”
Meanwhile, Solid Power has announced a business combination with a SPAC called DCRC in order to become a publicly listed company. Completion of the deal is expected to occur in the fourth quarter of 2021.
Source: Solid Power