Solid Power, a developer of all-solid-state batteries and sulfide electrolyte technology, has deepened its partnership with the BMW Group. Under an expanded joint development agreement, Solid Power has licensed the development of Solid Power’s all-solid-state battery design and manufacturing know-how to the BMW Group.
The expanded relationship brings significant benefits to both companies, including complementary battery development and manufacturing activities at Solid Power and the BMW Group to further enhance Solid Power’s technical capabilities. The BMW Group intends to replicate Solid Power’s pilot production line at its plant in Germany and produce prototype batteries based on Solid Power’s proprietary technology. Before the BMW Group’s prototype production line is installed, BMW Group personnel will work together at Solid Power’s factory to optimize the battery manufacturing process.
“We couldn’t be more excited about the growth of our relationship with BMW, a company that has demonstrated a strong commitment to Solid Power’s technology over the past seven years,” said Dr. Derek Johnson, Solid Power Chief Operating Officer. “We believe this expanded The partnership and enhanced collaboration is an additional vote of confidence in the development of Solid Power’s technology.”
“BMW remains committed to the pursuit of all-solid-state batteries, a technology we see as having great potential in the future,” said Frank Weber, Member of the Board of Management for Development at BMW AG. “We look forward to working more closely with Solid Power and adding the ability to produce solid-state batteries based on Solid Power designs in our own pilot facility. We hope this agreement will accelerate the installation of our solid-state prototype production A common goal for the commercialization of promising battery technologies.”
The BMW Group has agreed to pay Solid Power $20 million by June 2024, subject to certain milestones being met. The expanded joint development agreement includes the sharing of proprietary all-solid-state electrode and battery manufacturing technologies, but excludes licensing of intellectual property related to Solid Power’s electrolyte materials, which remain its core business. Once the BMW Group has installed the prototype production line, Solid Power is expected to supply its electrolyte materials to the BMW Group for prototype battery production.
“The expansion of our relationship with BMW is further evidence that both companies believe that Solid Power’s technology development is on the right track,” said David Jansen, Solid Power’s interim CEO, president and chairman. “I am encouraged by the progress our teams continue to make towards our company goals. Over the past few months, we have begun delivering 20 Ah batteries to our partners, including BMW, for initial testing and to begin production of our initial EV batteries. We look forward to bringing our electrolyte production facility online and beginning the formal automotive certification process.”
