The federal funding is a vote of confidence in battery technology, the company says.
LOUISVILLE, Colo — A $50 million federal grant will help Louisville-based Solid Power build a first-of-its kind manufacturing process in Thornton for its solid-state battery material.
Solid Power Inc. (Nasdaq: SDLP) is developing a way to make solid-state batteries for electric vehicles and other products. The company uses solid electrolytes made from sulfides, a departure from the use of liquid electrolytes found in lithium-ion batteries common in phones and electric cars.
The U.S. Department of Energy last week awarded Solid Power $50 million from the 2021 Bipartisan Infrastructure Law to expand its operations by installing the “first globally known continuous manufacturing process” of those materials.
The company plans to hire 40 full-time employees for expanded manufacturing operations in Thornton, it said in a news release.