Solid Power, Inc. (SLDP): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de la tecnología de vehículos eléctricos, Solid Power, Inc. (SLDP) surge como un innovador innovador, revolucionando el diseño de la batería a través de su tecnología de batería de estado sólido de vanguardia. Con asociaciones estratégicas con gigantes automotrices como BMW y Vado, esta empresa pionera está preparada para transformar el ecosistema de vehículos eléctricos entregando baterías que prometen una mayor densidad de energía, mejoran la seguridad y el rendimiento sin precedentes en las condiciones de temperatura extrema. Coloque en el intrincado lienzo del modelo de negocio que revela cómo la potencia sólida se está posicionando a la vanguardia de la revolución de la batería de próxima generación, desafiando las tecnologías tradicionales de iones de litio y potencialmente remodelando el futuro de la movilidad eléctrica.

Solid Power, Inc. (SLDP) - Modelo de negocio: asociaciones clave

Inversores automotrices estratégicos y socios de desarrollo

Solid Power ha establecido asociaciones clave con BMW y Fordque han realizado importantes inversiones en la empresa:

Pareja	Monto de la inversión	Estaca de renta variable
BMW	$ 130 millones	19.3%
Vado	$ 130 millones	19.3%

Asociación de materiales de batería

El poder sólido colabora con Corporación Albemarle Para materiales críticos de batería de iones de litio:

• Acuerdo de suministro de litio
• Desarrollo de material electrolítico avanzado
• Asociación de abastecimiento estratégico a largo plazo

Investigación y colaboraciones de tecnología

Institución de investigación	Área de enfoque	Tipo de colaboración
Universidad de Colorado Boulder	Tecnología de batería de estado sólido	Asociación de investigación
Escuela de Minas de Colorado	Ingeniería de materiales de batería	Programa de investigación conjunta

Proveedores de equipos de fabricación

Solid Power ha establecido asociaciones con proveedores especializados de equipos de fabricación de baterías:

• Fabricantes de equipos de recubrimiento de precisión
• Proveedores de equipos de ensamblaje de celdas automatizados
• Proveedores de equipos de prueba de baterías y validación

Proveedores potenciales de productos químicos y semiconductores

Categoría de proveedor	Socios potenciales	Tipo de material/componente
Proveedores químicos de batería	3M, BASF	Compuestos de electrolitos
Proveedores de semiconductores	Texas Instruments, en semiconductor	Sistemas de gestión de baterías

Solid Power, Inc. (SLDP) - Modelo de negocio: actividades clave

Investigación y desarrollo de celdas de batería de estado sólido

Solid Power invirtió $ 24.8 millones en gastos de I + D para el año fiscal 2022. La investigación actual se centra en el desarrollo de la tecnología de baterías de estado sólido en el ánodo de silicio con densidades de energía dirigidas a 400 wh/kg.

I + D Métrica	Datos 2022
Gastos totales de I + D	$ 24.8 millones
Personal de I + D	48 investigadores dedicados
Solicitudes de patentes	12 nuevas patentes de tecnología de baterías

Ingeniería de tecnología de baterías y pruebas de prototipo

El desarrollo del prototipo se centra en las celdas de batería de estado sólido de grado automotriz con BMW y Ford como socios de desarrollo primario.

• Ciclos de prueba prototipo: 3-4 por trimestre
• Objetivos de rendimiento de la celda de la batería: 500 ciclos de carga/descarga
• Objetivo de mejora de la densidad de energía: 20-25% sobre tecnologías actuales de iones de litio

Optimización del proceso de fabricación

Solid Power opera una instalación de fabricación de 52,000 pies cuadrados en Louisville, Colorado, con una capacidad de producción anual planificada de 300 MWh para 2025.

Métrico de fabricación	Estado actual
Tamaño de la instalación	52,000 pies cuadrados
Capacidad de producción actual	50 MWh por año
Capacidad de 2025 planificada	300 MWh por año

Capacidades de producción de escala

Solid Power obtuvo $ 130 millones en fondos para apoyar la escala de producción, con inversiones estratégicas de Ford y BMW.

• Presupuesto de expansión de la línea de producción: $ 45 millones
• Inversión de equipos: $ 22 millones
• Plan de expansión de la fuerza laboral: 75 nuevas posiciones de fabricación

Desarrollo de propiedad intelectual de tecnología de batería

A partir de 2022, Solid Power mantiene 35 patentes otorgadas y 28 solicitudes de patentes pendientes en tecnología de baterías de estado sólido.

Categoría de IP	Número
Patentes concedidas	35
Aplicaciones de patentes pendientes	28
Valor total de la cartera de IP	Estimado de $ 45-50 millones

Solid Power, Inc. (SLDP) - Modelo de negocio: recursos clave

Tecnología de batería de estado sólido patentado

El recurso tecnológico central de Solid Power implica su plataforma de batería de estado sólido con tecnología de ánodo de silicio. A partir del cuarto trimestre de 2023, la compañía ha desarrollado celdas de batería con una densidad de energía de 390 wh/kg.

Parámetro tecnológico	Especificación
Densidad de energía	390 wh/kg
Química de la batería	Ánodo de silicio Estado sólido
Etapa de desarrollo	Producción prototipo

Instalaciones avanzadas de fabricación de baterías

Solid Power opera una instalación de fabricación de 35,000 pies cuadrados en Louisville, Colorado, con una capacidad de producción anual planificada de 300 MWh para 2025.

Talento de ingeniería técnica

• Total de empleados: 130 a diciembre de 2023
• Ingenieros de nivel doctorado: 22
• Especialistas en ingeniería de baterías: 48

Cartera de propiedades intelectuales

Se mantiene la potencia sólida 17 patentes otorgadas y 23 solicitudes de patentes pendientes Relacionado con la tecnología de batería de estado sólido a partir de enero de 2024.

Capital de inversión estratégica

Socio de inversión	Monto de la inversión	Estaca de renta variable
Ford Motor Company	$ 50 millones	5.2%
BMW	$ 45 millones	4.8%
Volkswagen	$ 35 millones	3.7%

Solid Power, Inc. (SLDP) - Modelo de negocio: propuestas de valor

Tecnología de batería de mayor densidad de energía

La tecnología de batería de estado sólido de Solid Power ofrece una densidad de energía 50% mayor en comparación con las baterías tradicionales de iones de litio. El diseño de batería de estado totalmente sólido de la compañía permite una densidad de energía de 390 wh/kg, con mejoras proyectadas a 500 WH/kg para 2025.

Métrica de batería	Rendimiento actual	Rendimiento proyectado
Densidad de energía	390 wh/kg	500 wh/kg
Densidad de energía volumétrica	700 WH/L	900 WH/L

Seguridad mejorada en comparación con las baterías tradicionales de iones de litio

Las baterías de estado sólido de Solid Power demuestran Riesgo de fuego reducido significativamente, con estabilidad térmica de hasta 300 ° C en comparación con 180 ° C para baterías de iones de litio convencionales.

• Sin electrolito líquido, eliminando el riesgo de seguridad primaria
• Riesgo reducido de fugitivo térmico
• Estabilidad química mejorada

Potencial para capacidades de carga más rápidas

La tecnología de batería de la compañía admite tasas de carga de hasta 3C, lo que permite una carga del 80% en aproximadamente 15 minutos para aplicaciones de vehículos eléctricos.

Parámetro de carga	Actuación
Tasa de carga máxima	3C
Tiempo de carga al 80%	15 minutos

Mayores costos de producción para baterías de vehículos eléctricos

El proceso de fabricación de Solid Power se dirige a los costos de producción de baterías de $ 60/kWh para 2025, en comparación con el promedio actual de la industria de $ 130/kWh.

• Proceso de fabricación simplificado
• Complejidad de materia prima reducida
• Metodología de producción escalable

Rendimiento mejorado en condiciones de temperatura extrema

La tecnología de batería de Solid Power mantiene el 90% de retención de capacidad entre -20 ° C y 60 ° C, ofreciendo un rendimiento superior en diversas condiciones ambientales.

Rango de temperatura	Retención de capacidad
-20 ° C a 60 ° C	90%

Solid Power, Inc. (SLDP) - Modelo de negocio: relaciones con los clientes

Compromiso directo con los fabricantes de automóviles

Solid Power ha establecido relaciones directas de clientes con los principales fabricantes de automóviles:

Socio automotriz	Estado de la relación	Inversión/colaboración
BMW	Asociación estratégica	$ 130 millones de inversión
Ford Motor Company	Colaboración de desarrollo	Inversión de $ 50 millones

Soporte técnico y desarrollo colaborativo

Las métricas de colaboración técnica incluyen:

• Equipos conjuntos de I + D: 12 ingenieros dedicados
• Horas de desarrollo de colaboración anual: 5.400 horas
• Protocolos de transferencia de tecnología: 7 marcos establecidos

Modelo de asociación estratégica a largo plazo

Características de la asociación:

• Duración del contrato: acuerdos de 5-7 años
• Hitos de rendimiento: proceso de revisión trimestral
• Puntos de referencia de validación de tecnología: definido en cada acuerdo de asociación

Consulta de rendimiento de tecnología continua

Detalles de consulta de rendimiento:

Tipo de consulta	Frecuencia	Nivel de compromiso
Revisión del desempeño técnico	Trimestral	Interacción de alta intensidad
Monitoreo del rendimiento de la celda de la batería	Mensual	Intercambio de datos integral

Colaboración de investigación y desarrollo

Métricas de colaboración de I + D:

• Inversión anual de I + D: $ 35.2 millones
• Proyectos de investigación colaborativa: 6 iniciativas activas
• Solicitudes de patentes presentadas conjuntamente: 14 en 2023

Solid Power, Inc. (SLDP) - Modelo de negocio: canales

Equipo de ventas directo dirigido a fabricantes de automóviles

A partir del cuarto trimestre de 2023, Solid Power ha establecido canales de ventas directas con los siguientes fabricantes de automóviles:

Fabricante	Estado de compromiso	Volumen potencial de producción de baterías
BMW	Asociación estratégica	Hasta 20,000 unidades de batería/año
Ford Motor Company	Acuerdo de desarrollo	Hasta 15,000 unidades de batería/año

Conferencias tecnológicas y exhibiciones de la industria

La estrategia del canal de Solid Power incluye la participación en eventos clave de la industria:

• Battery Show Norteamérica 2023: demostraciones directas de productos
• Eléctrico & Expo de tecnología de vehículos híbridos
• Seminario internacional de batería & Exposición

Negociaciones de asociación estratégica

Métricas actuales de asociación estratégica:

Tipo de socio	Número de negociaciones activas	Valor de contrato potencial
OEM automotrices	3	$ 50-75 millones
Proveedores de tecnología de baterías	2	$ 25-40 millones

Presentaciones y demostraciones técnicas

Lugares de presentación técnica y métricas de compromiso:

• Presentaciones técnicas totales en 2023: 12
• Asistentes por presentación: 50-75 profesionales de la industria
• Tasa de generación de leads potencial: 22%

Plataformas de comunicación digital

Estadísticas de participación del canal digital:

Plataforma	Seguidores/conexiones	Tasa de compromiso
LinkedIn	24,500	3.7%
Gorjeo	15,200	2.9%
Sitio web de la empresa	45,000 visitantes mensuales	4.2%

Solid Power, Inc. (SLDP) - Modelo de negocio: segmentos de clientes

Fabricantes de vehículos eléctricos

Solid Power ha establecido asociaciones con fabricantes de vehículos eléctricos clave:

Fabricante	Detalles de inversión/asociación
BMW	$ 130 millones de inversiones a partir de 2022
Ford Motor Company	$ 50 millones de inversión estratégica

Fabricantes de equipos originales automotrices (OEM)

Los segmentos de clientes de Solid Power incluyen OEM prominentes:

• Ford Motor Company
• Grupo BMW
• Grupo de motor Hyundai

Marcas de vehículos eléctricos de alto rendimiento

Los segmentos de mercado de vehículos eléctricos de alto rendimiento objetivo incluyen:

Categoría de marca	Volumen de mercado potencial
Vehículos eléctricos de lujo	Proyectado 1.2 millones de unidades para 2025
Vehículos eléctricos de rendimiento	Tamaño estimado del mercado de $ 180 mil millones para 2026

Productores comerciales de vehículos eléctricos

Segmentos de mercado de vehículos eléctricos comerciales:

• Vehículos de entrega
• Flotas de camiones
• Transporte público

Empresas avanzadas de tecnología de transporte

Las asociaciones de tecnología estratégica incluyen:

Socio tecnológico	Enfoque de colaboración
Samsung SDI	Desarrollo de tecnología de baterías de estado sólido
Energía factorial	Investigación de tecnología de baterías

Solid Power, Inc. (SLDP) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, Solid Power reportó gastos de I + D de $ 44.6 millones, lo que representa una inversión significativa en el desarrollo de tecnología de baterías de estado sólido.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 37.2 millones	68.5%
2023	$ 44.6 millones	72.3%

Inversiones de equipos de fabricación

Los gastos de capital para la infraestructura de fabricación totalizaron $ 18.3 millones en 2023, centrados en expandir las capacidades de producción de baterías de estado sólido.

Categoría de equipo	Monto de la inversión
Líneas de producción de baterías	$ 12.5 millones
Equipo de prueba	$ 3.8 millones
Desarrollo prototipo	$ 2.0 millones

Adquisición y retención de talentos

Los gastos de personal para 2023 fueron de $ 32.7 millones, con un enfoque en reclutar ingenieros especializados de tecnología de baterías.

• Total de empleados: 265
• Salario promedio de ingeniería: $ 145,000
• Compensación basada en acciones: $ 5.2 millones

Protección de propiedad intelectual

Los costos anuales de protección de la propiedad intelectual alcanzaron los $ 2.1 millones en 2023, cubriendo la presentación y el mantenimiento de las patentes.

Categoría de protección de IP	Gastos
Presentación de patentes	$ 1.4 millones
Consultoría legal	$ 0.7 millones

Escala de infraestructura de producción

Las inversiones de escala de infraestructura para 2023 ascendieron a $ 22.5 millones, apuntando a una mayor capacidad de fabricación.

• Expansión de la instalación de producción: $ 15.3 millones
• Actualizaciones de equipos: $ 4.2 millones
• Optimización de la cadena de suministro: $ 3.0 millones

Solid Power, Inc. (SLDP) - Modelo de negocio: flujos de ingresos

Tarifas de licencia de tecnología de baterías

A partir del cuarto trimestre de 2023, Solid Power informó acuerdos de licencia con BMW y Ford, con un valor contrato potencial total de $ 130 millones.

Pareja	Estructura de tarifas de licencia	Valor de contrato
BMW	Tecnología de batería de estado sólido	$ 85 millones
Vado	Desarrollo de baterías de estado sólido	$ 45 millones

Ventas directas de celdas de batería

2023 Ingresos de ventas de celda de batería directa proyectada: $ 12.5 millones.

Pagos de hitos de rendimiento

Pagos de hito acumulativo recibidos de Automotive Partners en 2023: $ 22.3 millones.

Categoría de hito de rendimiento	Monto del pago
Hitos de logros técnicos	$ 15.7 millones
Hitos de preparación para la producción	$ 6.6 millones

Contratos de investigación y desarrollo

Ingresos por contrato total de I + D para 2023: $ 18.9 millones.

• Departamento de Contrato de Energía: $ 7.2 millones
• Subvenciones avanzadas de investigación de la batería: $ 11.7 millones

Arreglos de regalías futuros potenciales

Estructura de regalías anticipada basada en volúmenes de producción de celdas de batería proyectadas.

Rango de volumen de producción	Tasa de regalías estimada	Ingresos anuales potenciales
10,000-50,000 unidades	2.5%	$ 3.5 millones
50,001-100,000 unidades	4.5%	$ 8.2 millones

Solid Power, Inc. (SLDP) - Canvas Business Model: Value Propositions

You're looking at the core promises Solid Power, Inc. (SLDP) makes to its customers-the automakers and cell manufacturers-as of late 2025. These aren't just vague hopes; they are tied to specific technical benchmarks and partnership milestones.

The primary technical value is a significant leap in performance over current lithium-ion cells. Solid Power, Inc. is targeting an all-solid-state battery (ASSB) cell energy density of 400 Wh/kg. This is a direct response to the industry need for more energy in the same or smaller package. Also, third-party analysis suggests their solid-state batteries (SSBs) could be 20-40% lighter and approximately 33% more compact than traditional lithium-ion batteries.

Safety is a huge selling point. Solid Power, Inc. replaces the flammable liquid electrolytes found in conventional batteries with a sulfide-based solid electrolyte. This non-flammable material removes the inherent fire or explosion risk associated with thermal runaway in extreme temperatures or damage scenarios.

This technology is engineered to work with the existing infrastructure. Solid Power, Inc.'s business model centers on selling its electrolyte material and licensing its cell designs and manufacturing processes to established cell makers. This compatibility helps speed up adoption, as partners like SK Innovation and Samsung SDI integrate the technology into their lines. For instance, the company neared completion of factory acceptance testing for the SK On pilot cell line, with site acceptance testing targeted for later in 2025.

For the end-user, the value translates directly into better electric vehicles (EVs). The higher energy density and improved performance are designed to deliver extended EV driving range and longer battery life compared to current offerings. To demonstrate this, Solid Power, Inc. announced the successful testing of its all-solid-state battery cells in a BMW i7 vehicle on May 20, 2025.

While the $\text{\$60/kWh}$ long-term production cost target by 2025 was an early goal, the current financial focus is on scaling production capacity to drive future cost-downs. The company is advancing its pilot continuous electrolyte manufacturing line at the SP2 facility, which is on track for commissioning in 2026, aiming for 75 metric tons per year of capacity. This scaling is what underpins the long-term cost advantage over liquid electrolyte systems. For context on their current financial footing supporting this R&D, Solid Power, Inc. reported total liquidity of \$300.4 million as of September 30, 2025.

Here's a quick look at the key technical and partnership metrics underpinning these value propositions as of late 2025:

Metric/Component	Target/Status	Date/Period
Target Energy Density	400 Wh/kg	Ongoing Target
Pilot Continuous Electrolyte Line Capacity	75 metric tons per year	By 2026
SK On Pilot Line Testing Status	Site Acceptance Testing on target	Later in 2025
BMW i7 Vehicle Cell Test	Successful Testing	May 20, 2025
Q3 2025 Revenue	\$4.6 million	Q3 2025
Total Liquidity	\$300.4 million	September 30, 2025

The core technology differentiators that deliver these value propositions include:

• Sulfide-based solid electrolyte technology.
• Elimination of flammable liquid electrolytes.
• Enabling lithium metal anodes.
• Licensing of cell designs and manufacturing processes.
• Electrolyte sampling driving process engineering.

You should definitely track the progress of the SP2 pilot line commissioning, as that is the next major step to validate the manufacturability and cost structure. Finance: draft 13-week cash view by Friday.

Solid Power, Inc. (SLDP) - Canvas Business Model: Customer Relationships

You're looking at how Solid Power, Inc. (SLDP) manages its most critical external ties-the relationships that will ultimately determine if their solid-state battery technology moves from the lab to the road. These aren't simple vendor-customer transactions; they are deep, multi-year commitments essential for de-risking a capital-intensive technology transition.

High-touch, long-term Joint Development Agreements (JDAs) with OEMs

The relationship with Ford Motor Company is a prime example of a high-touch JDA, which was recently amended to extend its term until December 31, 2025. This ongoing collaboration solidifies the shared objective for the future of electric mobility. Similarly, the agreement with BMW Group has a complex structure; the JDA was further amended in September 2024 to extend the term until specific development milestones are met, though BMW retains termination rights beginning on December 31, 2025. Solid Power, Inc. is actively working toward negotiating a non-exclusive electrolyte supply agreement with BMW once BMW's prototype cell manufacturing line is commissioned. These agreements are the foundation for future commercial sales.

Collaborative R&D and co-development with Tier 1 battery manufacturers

Solid Power, Inc.'s strategy heavily involves co-development with major Tier 1 battery manufacturers, which helps expedite the research and development process through a direct feedback loop. The collaboration with SK On Co., Ltd. is significant, involving both a JDA for joint cell production and an electrolyte supply agreement. Execution on milestones under the SK On agreements drove a portion of the revenue recognized in 2024, which totaled $20.1 million. By the second quarter of 2025, Solid Power, Inc. completed factory acceptance testing (FAT) for the SK On pilot cell line, a milestone that contributed to the $7.5 million in revenue and grant income recognized in Q2 2025. Site acceptance testing (SAT) for that line remained on schedule for completion by the end of 2025. Furthermore, a new strategic collaboration was announced in late October 2025 with Samsung SDI and BMW to advance all-solid-state battery technology for a demonstration vehicle. In this arrangement, Solid Power, Inc. provides the sulfide-based solid electrolyte directly to Samsung SDI for cell building.

Here's a look at the key partner milestones and associated financial impacts through Q3 2025:

Partner	Key 2025 Milestone Achieved/Targeted	Financial/Operational Impact Data
SK On	Completed Factory Acceptance Testing (FAT) in Q2 2025; SAT targeted by year-end 2025.	FAT achievement drove Q2 2025 revenue of $7.5 million. Under the supply agreement, SK On is required to purchase at least eight metric tons of electrolyte through 2030 post-validation, expecting at least $10 million in sales.
BMW Group	Introduction of an i7 test vehicle powered by SLDP cells in Q2 2025.	JDA term extension tied to milestones; potential future non-exclusive electrolyte supply agreement.
Samsung SDI & BMW	Joint Evaluation Agreement announced in October 2025.	Culmination of electrolyte sampling efforts; validates technology for commercialization path.

Dedicated technical support for electrolyte integration and pilot line installation

The relationship with Tier 1 partners necessitates deep technical engagement, particularly around integrating the solid electrolyte into their manufacturing processes. Solid Power, Inc. is executing on its electrolyte technology development roadmap, which includes the start of the installation of a pilot continuous electrolyte manufacturing line. This new line, referred to as SP2, is designed to expand production capacity to 75 metric tons and support anticipated small volume programs for current and future customers. Commissioning for this continuous electrolyte production pilot line remains on track for 2026. Capital expenditures for the construction of this line totaled $5.0 million in the first half of 2025. The company is focused on maintaining financial discipline, with management reducing the 2025 cash investment guidance to a range of $85 million to $95 million.

Active electrolyte sampling and feedback-driven innovation cycles

A core part of the customer relationship is the iterative process driven by physical product testing. Solid Power, Inc. has continued to receive customer feedback on electrolyte sampling, which is driving process engineering expected to lead to improved performance. The company's objective for 2025 includes driving electrolyte innovation and performance through feedback from customers and internal cell development. The Electrolyte Innovation Center (EIC) is utilized to quickly innovate based on demand signals. This active sampling has led to continued demand for multiple generations of electrolyte from customers. The year-to-date results through Q3 2025 reflect these development costs, with an operating loss of $74.3 million and a net loss of $66.4 million. The total liquidity position as of September 30, 2025, was $300.4 million, providing the cushion needed for these high-touch development cycles.

The financial commitment to innovation and customer support through Q3 2025 looks like this:

• Year-to-date 2025 cash used in operating activities was $61.2 million as of September 30, 2025.
• Year-to-date 2025 operating loss was $74.3 million.
• Total liquidity as of September 30, 2025, was $300.4 million.
• Total liquidity as of June 30, 2025, was $279.8 million.
• The company raised net proceeds of $32.9 million from common stock sales in Q3 2025.

Solid Power, Inc. (SLDP) - Canvas Business Model: Channels

You're looking at how Solid Power, Inc. (SLDP) gets its technology and materials into the hands of the market, which is key for a pre-commercial entity. Their channel strategy centers on being a specialized supplier and licensor, not a mass battery producer. This capital-light approach is defintely a strategic choice to manage overhead.

Direct sales of proprietary solid electrolyte material to cell manufacturers.

Solid Power, Inc. endeavors to be a leading producer and distributor of its sulfide-based solid electrolyte material. Current revenue recognition is tied to achieving development milestones with partners rather than shipping large volumes of final product. For instance, revenue recognized in the third quarter of 2025 was $4.6 million, primarily from work under the line installation agreement with SK On Co., Ltd., which included site acceptance testing milestones. Year-to-date revenue recognized through Q3 2025 reached $18.1 million. The company is actively preparing for scale, with detailed design work continuing for the installation of its continuous electrolyte production pilot line, which is on track for commissioning in 2026. This pilot line aims for an annual capacity of about 75 tons at the pilot scale.

Licensing of cell designs and manufacturing processes to partners.

The business model explicitly includes licensing cell designs and manufacturing processes alongside electrolyte sales. This is a crucial channel for technology dissemination. For example, previous agreements with SK On included a research and development license, with expectations of at least $50M in revenue upon milestone achievement and electrolyte deliveries from the combined agreements. This licensing component allows partners to integrate the technology into their own manufacturing lines.

Direct engagement with strategic Automotive OEMs for technology validation.

Direct engagement with Original Equipment Manufacturers (OEMs) serves as the primary channel for technology validation and de-risking the commercial path. These relationships are critical for proving the technology in automotive-grade applications. The company maintains strong ties with several major players:

• The joint development agreement with Ford Motor Company was formally extended through December 31, 2025.
• Solid Power announced a Joint Evaluation Agreement with Samsung SDI and BMW in Q3 2025 to advance all-solid-state battery development.
• BMW successfully tested full-scale all-solid-state battery cells in an i7 demonstrator vehicle, announced on May 20, 2025.
• BMW will host a prototype line for ASSBs at its Cell Manufacturing Competence Center (CMCC) in Parsdorf.

Here's a quick look at the key partnership activities that drive channel progress:

Partner	Channel Activity / Milestone	Relevant 2025 Financial Impact (Revenue Source)
SK On Co., Ltd.	Site acceptance testing for pilot cell line conducted in Q3 2025.	Primary driver for $4.6 million Q3 2025 revenue.
BMW Group	Successful testing of ASSB cells in an i7 demonstrator vehicle.	Validation milestone for technology integration.
Samsung SDI & BMW	Joint Evaluation Agreement announced for ASSB development.	Culmination of electrolyte sampling efforts, leading to new engagement.

The company's liquidity position as of September 30, 2025, stood at $300.4 million, which helps fund the high development costs associated with these validation channels.

Investor Relations website for public and financial communication.

Public and financial communication is channeled directly to stakeholders via the Investor Relations website. For example, the release of third quarter 2025 results on November 4, 2025, included access to a live audio webcast on the site located at www.solidpowerbattery.com/investor-relations. This channel ensures transparency regarding operational progress, such as the on-schedule site acceptance testing for the SK On pilot cell line by year-end 2025.

Solid Power, Inc. (SLDP) - Canvas Business Model: Customer Segments

You're looking at the core groups Solid Power, Inc. is targeting with its sulfide-based solid electrolyte technology, which is a key differentiator from competitors planning to be full battery manufacturers. The focus is clearly on enabling existing players to transition their manufacturing lines.

The company's business model centers on selling this electrolyte material and licensing its cell designs and manufacturing processes, which is why these specific customer types are critical for near-term revenue and long-term scale.

Here are the defined customer segments as reflected in the late 2025 operational updates:

• Global Tier 1 battery cell manufacturers, evidenced by active collaborations and milestone achievements.
• Major Automotive Original Equipment Manufacturers (OEMs) directly involved in vehicle evaluation programs.
• Aerospace and other high-performance energy storage applications, representing a future market for the technology.
• Government and defense agencies, acting as a revenue source via grant-funded development work.

The financial reality of late 2025 shows that revenue generation is currently tied directly to the progress made with these key partners and government funding milestones. For instance, year-to-date revenue recognized as of the third quarter of 2025 reached $18.1 million, with Q3 revenue specifically driven by work performed under the agreement with SK On Co., Ltd..

The relationships with the largest players are formalized through specific agreements and technical targets:

Customer Type	Key Partner(s)	2025 Status/Milestone	Financial/Contract Data Point
Global Tier 1 Cell Manufacturer	Samsung SDI	Joint Evaluation Agreement announced to develop all-solid-state battery cells for evaluation vehicles.	Solid Power supplies sulfide-based solid electrolyte to Samsung SDI.
Major Automotive OEM	BMW Group	BMW introduced an i7 test vehicle powered by Solid Power cells.	Collaboration aims to supply cells for integration into a demonstration vehicle.
Global Tier 1 Cell Manufacturer	SK On Co., Ltd.	Site acceptance testing for the pilot cell line was conducted, on target for completion by year-end 2025.	Q1 2025 revenue was primarily from agreements with SK On.
Major Automotive OEM	Ford Motor Company	Joint development agreement extended through December 31, 2025.	Progress on 2024 milestones for the multi-year agreement was completed.
Government Agency	U.S. Department of Energy (DOE)	Entered into an assistance agreement in January 2025 formalizing grant terms.	Selected for up to $50 million in federal funding; $1.5 million received in Q1 2025.

The government segment provides direct, non-dilutive funding for capacity expansion. The total project cost for the DOE agreement is $110 million, comprising the $50 million grant and a $60 million cost share from Solid Power, Inc.. This funding supports the installation of the continuous electrolyte production pilot line, which is targeted for commissioning in 2026, with an anticipated capacity of 75 metric tons per year.

For the automotive OEMs and cell manufacturers, the focus is on technical validation and scaling the supply chain. The company is working to increase electrolyte sampling to meet rising demand from these strategic customers.

• Electrolyte sampling is increasing with multiple new and repeat potential customers requesting material.
• The company is focused on fulfilling partner and customer commitments throughout 2025.
• The business model is validated by Tier 1 manufacturers and OEMs coalescing around the sulfide solid-state battery architecture.

The aerospace and other high-performance segment is an extension of the core battery technology application, though specific 2025 revenue or contract numbers tied exclusively to this segment weren't detailed in the latest financial reports, which heavily emphasized EV sector progress. Solid Power, Inc. endeavors to be a leading producer and distributor of its material for both EVs and other applications.

Financially, the commitment to these customer development programs is reflected in the company's spending. Management revised the expected 2025 cash investment down to a range of $85 million to $95 million, showing a focus on efficiency while still funding partner milestones.

Solid Power, Inc. (SLDP) - Canvas Business Model: Cost Structure

You're looking at the core expenses Solid Power, Inc. (SLDP) is facing as they push their solid-state battery technology toward commercial scale. The cost structure is heavily weighted toward future capability rather than current revenue generation, which is typical for deep-tech development.

The primary cost driver remains the heavy investment in Research and Development (R&D) and material science. This spending fuels the innovation needed to perfect the sulfide-based solid electrolyte and cell designs, which is the company's core value proposition. This R&D intensity directly translates into significant operating expenses.

The financial reality shows this burn rate clearly. As of the third quarter of 2025, the company reported a year-to-date 2025 operating loss of $74.3 million. This loss is a direct reflection of the high costs required to maintain a leadership position in this complex field.

A significant portion of the operating expenses is dedicated to personnel costs for specialized engineers and scientists. These are the experts required to execute on the complex electrolyte development roadmap and manage the pilot line builds. While specific personnel cost breakdowns aren't itemized in the latest reports, the overall operating expense for the third quarter alone was $29.0 million.

Beyond day-to-day operations, there are substantial outlays for physical assets related to scaling production. This includes capital expenditures for pilot line construction and equipment. For the year-to-date 2025 period, the company reported Capital Expenditures (CapEx) of $5.6 million, with the third quarter specifically accounting for $0.6 million, primarily for the continuous electrolyte production pilot line construction.

The company is managing this burn with a revised spending target. Management has set the Total 2025 cash investment expected between $85 million and $95 million. This figure, which covers both operations and capital expenditures, was recently revised downward, signaling a focus on fiscal discipline while still investing heavily in technology.

Here's a quick look at the key financial metrics defining the cost structure as of the end of Q3 2025:

Cost Component Metric	Amount (USD)	Period/Context
Year-to-Date Operating Loss	$74.3 million	Year-to-Date (YTD) 2025
Year-to-Date Capital Expenditures (CapEx)	$5.6 million	YTD 2025
Q3 2025 Operating Expenses	$29.0 million	Q3 2025
Total Expected 2025 Cash Investment (Revised Guidance)	$85 million to $95 million	Full Year 2025 Outlook
Cash Used in Operations & CapEx (YTD)	$61.2 million	YTD 2025

The nature of these costs means that achieving milestones with partners like SK On Co., Ltd. and Samsung SDI/BMW is critical, as these agreements provide revenue that offsets the high fixed and variable costs associated with advanced material development. The cost structure is inherently front-loaded, meaning large investments precede scalable revenue.

You can see the concentration of spending in a few key areas:

• Funding the ongoing development of the sulfide-based solid electrolyte.
• Executing on site acceptance testing for the SK On pilot cell line.
• Detailed design work for the continuous electrolyte production pilot line (SP2).
• Maintaining a highly skilled technical workforce.

To be fair, the revision of the 2025 cash investment guidance to the $85 million to $95 million range suggests management is actively looking for efficiencies within the R&D spend, which is a necessary action given the high cash burn rate. Finance: draft 13-week cash view by Friday.

Solid Power, Inc. (SLDP) - Canvas Business Model: Revenue Streams

Solid Power, Inc. (SLDP) revenue streams in late 2025 are heavily weighted toward collaborative development milestones and government funding as the company progresses toward commercial sales of its sulfide-based solid electrolyte material.

Revenue and Grant Income Year-to-Date Q3 2025

The recognized revenue and grant income for the first three quarters of 2025 totaled $18.1 million year-to-date. This figure is an increase of $2.4 million over the same period in 2024. The quarterly breakdown shows the lumpy nature of milestone-based revenue recognition.

Period	Revenue and Grant Income (Millions USD)	Primary Driver
Q3 2025	$4.6 million	Work performed on the site acceptance testing milestone under the line installation agreement with SK On Co., Ltd.
Q2 2025	$7.5 million	Achievement of factory acceptance testing milestone under the line installation agreement with SK On Co., Ltd.
Q1 2025	$6.0 million or $6.02 million	Ongoing execution under the SK On agreement and government contracts.

Milestone Payments from Joint Development Agreements (JDAs) with Partners

Revenue is directly tied to achieving specific technical and operational milestones within its multi-year agreements. Key partners driving these payments include SK On Co., Ltd., BMW, and Ford Motor Company. The progress in Q3 2025 was notably driven by work performed on the site acceptance testing milestone with SK On. Furthermore, a Joint Evaluation Agreement was announced with Samsung SDI and BMW to advance all-solid-state battery development.

Government Grant Disbursements (e.g., DOE grant)

Solid Power, Inc. secured funding from the U.S. Department of Energy (DOE) of up to $50 million to enhance sulfide-based solid electrolyte material production capabilities. This funding is part of an Assistance Agreement effective January 1, 2025, which requires a $60 million cost-share contribution from Solid Power. Disbursements are recognized as revenue:

• As of June 30, 2025, Solid Power had received $3.3 million in reimbursements under the DOE agreement.
• In Q1 2025, $1.5 million was received under this grant.

Future Revenue from Sales of Sulfide-Based Solid Electrolyte Material

The ultimate commercial revenue stream is the production and distribution of the sulfide-based solid electrolyte material. The company is targeting an expansion of production capacity to 75 metric tons per year by 2026 with the commissioning of its continuous manufacturing pilot line on track for 2026. While current revenue is milestone-based, management has indicated the timing for significant electrolyte sales:

• Anticipated significant revenue from electrolytes is projected for the 2027-2028 period onwards.
• The bulk of expected electrolyte revenue is forecasted around 2030 and beyond.

Future Revenue from Licensing Fees for Cell Designs and Processes

Solid Power, Inc.'s business model includes generating revenue by licensing its proprietary cell designs and manufacturing processes to cell manufacturers, distinguishing it from competitors planning to be commercial battery manufacturers themselves. This stream is expected to materialize alongside the material sales as the technology matures and is adopted by customers.