Feds offer Solid Power up to $50M to expand manufacturing capacity

LOUISVILLE — Solid Power Inc. (Nasdaq: SLDP), a Louisville-based developer of solid-state battery technology, was selected this month by the U.S. Department of Energy’s Office of Manufacturing and Energy Supply Chains to receive grant funding of up to $50 million that the company plans use for manufacturing expansion. 

Specifically, Solid Power said it “intends to install the first globally known continuous manufacturing process of sulfide-based solid electrolyte materials for advanced all-solid-state batteries (ASSBs) and expand its electrolyte production capabilities” at its Thornton plant. 

The company can currently produce 30 metric tons of electrolyte per year. With the grant funding, provided to DOE through the Bipartisan Infrastructure Law,  Solid Power said it “plans to significantly increase its annual production capacity, first to 75 metric tons in 2026 and then to 140 metric tons in 2028, in order to meet anticipated demand.”

Alongside the new manufacturing capacity, Solid Power expects to hire about 40 new workers in Thornton.