Solid Power Battery to Power xEV Platform for Quality, Safety, Performance Enhancements

LOUISVILLE, Colo., Dec. 18, 2017 /PRNewswire/ -- Solid Power, a leading developer of solid-state rechargeable batteries, today announced a partnership with the BMW Group.

The BMW Group is deeply committed to the electrification of automotive transport. This is not only reflected in the growing number of electrified models in its product portfolio but also in its intense in-house research and development activities. As range needs are steadily increasing the need for adoption of new technologies is required.

Solid-state battery technology has the potential to offer in the future a battery system that provides long electrical range with enhanced safety and performance compared to conventional Li-ion battery cells.

In order to accelerate the development of such systems, the BMW Group is partnering with Solid Power in a joint effort to develop Solid Power's solid-state batteries for electric vehicle applications. In this effort, the BMW Group will assist Solid Power to advance its technology in order to achieve performance levels required for high performance electric vehicles.

Solid Power's team focuses on developing and scaling competitive solid-state batteries, paying special attention to safety, performance, and cost. Solid Power's solid-state batteries contain no liquid electrolyte. Instead, they are comprised of proprietary inorganic materials producing a product with higher energy density, without volatile or flammable components. This technology has great potential to provide the BMW Group's electric vehicles with increased driving range and a battery with a longer shelf-life that can withstand high temperatures.

"Since the company's inception, the Solid Power team has worked to develop and scale a competitive solid-state battery paying special attention to safety, performance, and cost," said Doug Campbell, founder and CEO of Solid Power. "Collaborating with BMW is further validation that solid-state battery innovations will continue to improve electric vehicles. We're looking forward to working with BMW on pushing the limits on developments around xEV batteries."

Capitalizing on continued market expansion, Solid Power has experienced rapid company growth throughout the first-half of 2017. The battery developer recently moved into a state-of-the-art facility in Louisville, Colorado. The brand-new facility will allow Solid Power to triple its footprint and build out the capabilities necessary to deliver commercial-quality solid-state battery prototypes, from new material synthesis through cell and battery assembly. Solid Power expects to double its executive and innovation team over the next three years.

About Solid Power
Solid Power is an industry-leading developer of the next-generation of all solid-state rechargeable batteries. Established in 2012 as a spin-out company from the University of Colorado Boulder, based on ground-breaking research in solid-state battery technology, the company has an exclusive goal of commercializing the company's technology for battery-powered devices such as electric vehicles, portable electronics, aircraft, and satellites. For more information, visit http://www.solidpowerbattery.com/

SOURCE Solid Power