- Write by:
-
Tuesday, June 7, 2022 - 13:11:37
-
494 Visit
-
Print
Mining News Pro - Solid Power Inc., the battery startup that went public in a reverse merger last year, has begun operating a new pilot line, putting it on pace to deliver sample cells to automotive partners by year-end.
Shares of Solid Power fell 4.8% at 2:35 p.m. in New York, extending their year-to-date drop to 17%. A lock-up period on 104.5 million shares owned by early investors and company founders expires Monday, according to Solid Power.The Louisville, Colorado-based company says it will deliver test cells of at least 60 amp-hours to Ford Motor Co. and BMW AG, which are investors and development partners. If Solid Power’s technology meets certain performance targets, it could be considered for a supply contract with the automakers.
This “firmly plants us on that path to formal automotive qualification,” Chief Executive Officer Doug Campbell said in an interview. It will take a couple more quarters to “iron out” problems and ramp up production, he cautioned.
Solid Power and rivals such as QuantumScape Corp. and SES Holdings Pte are developing technology to enable solid-state batteries, which could dramatically speed up electric vehicle adoption by providing automakers with a safer, cheaper alternative to lithium-ion batteries.
Solid Power eventually hopes to move away from cell manufacturing and focus just on its key intellectual property — a solid-state electrolyte that it says can extend the range of EV batteries while also making them safer.
“That is actually our business long-term,” Campbell said. “We would hand off cell production, and leave us laser focused on essentially being a battery materials company.”
All electric cars today use a liquid electrolyte, a key material that helps shuttle ions back and forth smoothly in a battery to produce electricity, but increases the risk of fire. Moving to a solid electrolyte could enable the use of battery materials that would greatly enhance the range of an electric car, while reducing the risk of fire.
QuantumScape and SES are also targeting delivery of so-called A sample cells to prospective customers by year end. Battery manufacturers have to submit several different versions of prototype cells to be tweaked and tested by automakers in a yearslong process that can eventually lead to a supply contract.
Shares of Solid Power fell 4.8% at 2:35 p.m. in New York, extending their year-to-date drop to 17%. A lock-up period on 104.5 million shares owned by early investors and company founders expires Monday, according to Solid Power.
Short Link:
https://www.miningnews.ir/En/News/621455
![Gold price falls most in two years on jobs data, China buying pause](/Incsys/Photo.aspx?image=/Uploads/News/20240615003613938.jpeg&width=236&height=180)
Gold fell the most in more than two years as surprise strength in a key US jobs report dashed hopes that the Federal ...
![Codelco chairman says SQM lithium deal on track, despite Tianqi dispute](/Incsys/Photo.aspx?image=/Uploads/News/20240615003105409.jpg&width=236&height=180)
A plan to kick off a partnership between Chilean state miner Codelco and the world’s No. 2 lithium producer SQM is on ...
![Bravura expects to begin Zimbabwe lithium production in 2025](/Incsys/Photo.aspx?image=/Uploads/News/20240610020847607.jpeg&width=236&height=180)
Bravura Holdings Ltd. – a firm owned by Nigerian tycoon Benedict Peters – plans to start production at a Zimbabwean ...
![CNGR looks to snap up more lithium projects in Argentina](/Incsys/Photo.aspx?image=/Uploads/News/20240610015622252.jpeg&width=236&height=180)
CNGR Advanced Material Co., a Chinese battery-component maker and Tesla Inc. supplier, is looking to buy major stakes in ...
![Tianqi weighs bid to protect interests in Chile’s SQM-Codelco lithium deal](/Incsys/Photo.aspx?image=/Uploads/News/20240610014737906.jpg&width=236&height=180)
China’s Tianqi Lithium, a major shareholder in Chile’s SQM, said it may consider action to protect its interests in a ...
![Copper traders get reprieve as historic New York squeeze eases](/Incsys/Photo.aspx?image=/Uploads/News/20240601221445853.jpeg&width=236&height=180)
A historic squeeze in New York copper futures is drawing to a close, with the loosening of a key price spread taking the ...
![EU, Australia sign critical minerals pact to diversify supply chains](/Incsys/Photo.aspx?image=/Uploads/News/20240601220229550.jpg&width=236&height=180)
Australia and the European Union have struck an agreement to boost cooperation and investment in critical minerals, part ...
![Vulcan rejects Mexico’s ‘illegal expropriation’ of its investments](/Incsys/Photo.aspx?image=/Uploads/News/20240528184512620.jpg&width=236&height=180)
US construction company Vulcan Materials on Monday rejected what it considers the “illegal expropriation” of its ...
![SQM expects to close Codelco lithium deal by May 31 deadline](/Incsys/Photo.aspx?image=/Uploads/News/20240528183247654.jpg&width=236&height=180)
Chilean mining company SQM, the world’s second-largest lithium producer, expects to meet a May 31 deadline to finalize a ...
No comments have been posted yet ...