# Solid Power

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/solid-power

- Industry: Energy Storage & Batteries
- Headquarters: Louisville, US
- Website: www.solidpowerbattery.com
- Total disclosed funding: $169M
- Latest round: Series B (May 3, 2021)
- Investors on record: 8

## About

Based in the US, Solid Power Inc. operates as a developer of advanced all-solid-state battery technology aimed at enhancing electric vehicle performance and energy storage solutions.Founded in 2011 in Louisville, US, Solid Power Inc. specializes in sulfide-based solid electrolytes for batteries. The company has undergone strategic developments to focus on solid-state technology and has raised a total of USD 149.02 mn through various funding rounds, with its most recent deal occurring in January 2025, when it received USD 50 mn in Grant funding from the U.S. Department of Energy. The company is led by CEO Douglas Campbell, while Sehee Lee is noted as the founder.Solid Power Inc. is a leading innovator in the development of all-solid-state battery technology, primarily focusing on sulfide-based solid electrolytes. The company's flagship products include high-performance battery cells designed to address the limitations of conventional lithium-ion batteries, such as safety concerns, higher energy density, and improved charge rates. These solid-state batteries are targeted for use in electric vehicles (EVs) and other applications requiring efficient energy storage solutions. Solid Power has established partnerships with major automotive manufacturers, including Ford and BMW, to integrate its battery technology into their vehicles, thereby enhancing the performance and sustainability of electric transportation. The company's products are primarily marketed in North America and Europe, where the demand for advanced battery solutions is growing rapidly due to increasing adoption of electric mobility.For the year 2023, Solid Power recorded a revenue of USD 17.41 mn, with an EBITDA of USD -88.87 mn. The company's revenue is generated primarily through partnerships and collaborations with automotive manufacturers, which involve supplying proprietary all-solid-state battery cells and associated technologies to partners who incorporate these solutions into their electric vehicles.In January 2025, Solid Power, Inc. will utilize the USD 50 mn Grant funding from the U.S. Department of Energy to install equipment for the continuous production of sulfide-based solid electrolyte materials. The company is focused on expanding its product line and enhancing production capabilities to meet the growing demand in the electric vehicle market. Solid Power is targeting the introduction of new battery products while exploring opportunities for expansion into additional global markets, aiming to leverage its partnerships to increase its footprint in North America and Europe.

## Funding rounds

- Series B, May 3, 2021, $149M — Ford Motor Company, BMW Group, Volta Energy Technologies
- Series A, Sep 10, 2018, $20M — Solvay, Samsung Venture Investment, A123 Systems, Hyundai CRADLE, Sanoh Industrial Co., Ltd.

## Investors

- Solvay — Series A
- Samsung Venture Investment (https://capitalatlas.ai/funds/samsung-venture-investment) — Series A
- A123 Systems — Series A
- Hyundai CRADLE (https://capitalatlas.ai/funds/hyundai-cradle) — Series A
- Sanoh Industrial Co., Ltd. — Series A
- Ford Motor Company — Series B
- BMW Group — Series B
- Volta Energy Technologies (https://capitalatlas.ai/funds/volta-energy-technologies) — Series B