Production scaling drives Solid Power to increased losses

LOUISVILLE — Solid Power Inc. (Nasdaq: SLDP), which makes solid-state batteries for electric vehicles, posted a net loss in the second quarter as a result of higher expenses from ramped-up production. 

Second-quarter 2023 revenue was $4.9 million, an increase of $2.3 million from the same period last year. The company said that the improvement is “a result of continued execution under the company’s joint development agreements.”

Solid Power last week posted a net loss of  $12.2 million, compared with net income of $13.7 million in the second quarter of 2022. 

“As expected, operating expenses were higher in the second quarter and first half…