Solid energy ipo

Is solid power going public?

The company is one of a handful in the electric mobility space to have gone public via a merger with a blank-check firm. Solid Power announced the merger with special purpose acquisition company Decarbonization Plus Acquisition Corp III in June, at a post-deal implied market valuation of $1.2 billion.

What is solid power?

“Solid Power has spent the last ten years developing all-solid-state battery technology that is designed to deliver the increased performance demanded by both automakers and consumers.

Is solid power a solid-state battery developer?

Solid Power is not the only solid-state battery developer to go public via SPAC, nor is it the only one to have received investment from a big automaker.

Does solidenergy own GM Ventures?

SolidEnergy holds a dominant position in lithium metal battery technology and AI-powered battery management software, which optimizes battery safety and charging. GM Ventures, General Motors’ venture capital arm, had invested in SolidEnergy in 2015, marking the beginning of a working relationship between the two companies.

How much money did solid power make?

The deal ultimately generated around $542.9 million to Solid Power, very near to the estimated $600 million due to the notably low number of redemptions prior to the shareholder vote. The cash includes $195 million PIPE and $347.9 million of cash held in trust.

Will solidenergy build a high-capacity battery by 2023?

As part of the agreement, the two companies plan to build a prototyping facility in Woburn, Massachusetts, aiming to have a high-capacity, pre-production battery by 2023. SolidEnergy Systems, or SES, has developed an “anode-free” lithium metal battery that improves overall life.