Solid Power, Inc. (SLDP): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage rapide de la technologie des véhicules électriques, Solid Power, Inc. (SLDP) émerge comme un innovateur révolutionnaire, révolutionnant la conception de la batterie grâce à sa technologie de batterie à l'état solide de pointe. Avec des partenariats stratégiques avec des géants automobiles comme BMW et Gué, cette entreprise pionnière est prête à transformer l'écosystème des véhicules électriques en livrant des batteries qui promettent une densité d'énergie plus élevée, une meilleure sécurité et des performances sans précédent dans des conditions de température extrêmes. Plongez dans la toile du modèle commercial complexe qui révèle comment la puissance solide se positionne à l'avant-garde de la révolution des batteries de nouvelle génération, remettant en question les technologies traditionnelles lithium-ion et potentiellement remodeler l'avenir de la mobilité électrique.

Solid Power, Inc. (SLDP) - Modèle commercial: partenariats clés

Investisseurs automobiles stratégiques et partenaires de développement

Solid Power a établi des partenariats clés avec BMW et Ford, qui ont fait des investissements importants dans l'entreprise:

Partenaire	Montant d'investissement	Pieu de capitaux propres
BMW	130 millions de dollars	19.3%
Gué	130 millions de dollars	19.3%

Partnership des matériaux de batterie

Solid Power collabore avec Albemarle Corporation Pour les matériaux critiques de batterie au lithium-ion:

• Contrat d'approvisionnement au lithium
• Développement de matériaux électrolytes avancés
• Partenariat d'approvisionnement stratégique à long terme

Collaborations de recherche et de technologie

Institution de recherche	Domaine de mise au point	Type de collaboration
Université du Colorado Boulder	Technologie de batterie à semi-conducteurs	Partenariat de recherche
Colorado School of Mines	Ingénierie des matériaux de batterie	Programme de recherche conjoint

Fournisseurs d'équipement de fabrication

Solid Power a établi des partenariats avec des fournisseurs spécialisés d'équipement de fabrication de batteries:

• Fabricants d'équipements de revêtement de précision
• Fournisseurs d'équipements d'assemblage de cellules automatisées
• Fournisseurs d'équipements de test et de validation de batterie

Fournisseurs chimiques et semi-conducteurs potentiels

Catégorie des fournisseurs	Partenaires potentiels	Type de matériau / composant
Fournisseurs chimiques de batterie	3m, BASF	Composés électrolytiques
Fournisseurs de semi-conducteurs	Texas Instruments, sur semi-conducteur	Systèmes de gestion des batteries

Solid Power, Inc. (SLDP) - Modèle d'entreprise: activités clés

Recherche et développement de cellules de batterie à semi-conducteurs

Solid Power a investi 24,8 millions de dollars dans les dépenses de R&D pour l'exercice 2022. Les recherches actuelles se concentrent sur le développement de la technologie de batterie à semi-conducteurs à l'anode à l'anode avec des densités d'énergie ciblant 400 wh / kg.

Métrique de R&D	2022 données
Dépenses totales de R&D	24,8 millions de dollars
Personnel de R&D	48 chercheurs dévoués
Demandes de brevet	12 nouveaux brevets technologiques de la batterie

Battery Technology Engineering and Prototype Testing

Le développement des prototypes se concentre sur les cellules de batterie à semi-conducteurs de qualité automobile avec BMW et Ford en tant que partenaires de développement primaires.

• Cycles de test de prototype: 3-4 par trimestre
• Cibles de performance de la cellule de la batterie: 500 cycles de charge / décharge
• Objectif d'amélioration de la densité énergétique: 20-25% par rapport aux technologies actuelles du lithium-ion

Optimisation du processus de fabrication

Solid Power exploite une usine de fabrication de 52 000 pieds carrés à Louisville, Colorado, avec une capacité de production annuelle prévue de 300 MWh d'ici 2025.

Métrique manufacturière	État actuel
Taille de l'installation	52 000 pieds carrés
Capacité de production actuelle	50 MWh par an
Capacité prévue de 2025	300 MWh par an

Échelle des capacités de production

Solid Power a obtenu un financement de 130 millions de dollars pour soutenir la mise à l'échelle de la production, avec des investissements stratégiques de Ford et BMW.

• Budget d'extension de la ligne de production: 45 millions de dollars
• Investissement d'équipement: 22 millions de dollars
• Plan d'expansion de la main-d'œuvre: 75 nouveaux postes de fabrication

Technologie de la batterie Développement de la propriété intellectuelle

En 2022, Solid Power conserve 35 brevets accordés et 28 applications de brevet en attente dans la technologie des batteries à semi-conducteurs.

Catégorie IP	Nombre
Brevets accordés	35
Demandes de brevet en instance	28
Valeur totale du portefeuille IP	Estimé 45 à 50 millions de dollars

Solid Power, Inc. (SLDP) - Modèle d'entreprise: Ressources clés

Technologie de batterie à semi-conducteurs propriétaire

La ressource technologique principale de Solid Power implique sa plate-forme de batterie à semi-conducteurs avec la technologie des anodes de silicium. Depuis le quatrième trimestre 2023, la société a développé des cellules de batterie avec une densité d'énergie de 390 wh / kg.

Paramètre technologique	Spécification
Densité énergétique	390 wh / kg
Chimie de batterie	À l'état solide de l'anode en silicium
Étape de développement	Production de prototypes

Installations de fabrication de batteries avancées

Solid Power exploite une usine de fabrication de 35 000 pieds carrés à Louisville, Colorado, avec une capacité de production annuelle prévue de 300 MWh d'ici 2025.

Talent d'ingénierie technique

• Total des employés: 130 en décembre 2023
• Ingénieurs au niveau du doctorat: 22
• Spécialistes de l'ingénierie de la batterie: 48

Portefeuille de propriété intellectuelle

Une puissance solide tient 17 brevets accordés et 23 demandes de brevet en instance lié à la technologie de la batterie à semi-conducteurs en janvier 2024.

Capital d'investissement stratégique

Partenaire d'investissement	Montant d'investissement	Pieu de capitaux propres
Ford Motor Company	50 millions de dollars	5.2%
BMW	45 millions de dollars	4.8%
Volkswagen	35 millions de dollars	3.7%

Solid Power, Inc. (SLDP) - Modèle d'entreprise: propositions de valeur

Technologie de batterie de densité d'énergie plus élevée

La technologie des batteries à semi-conducteurs de Solid Power offre une densité d'énergie 50% plus élevée par rapport aux batteries au lithium-ion traditionnelles. La conception de la batterie entièrement solide de l'entreprise permet de 390 wh / kg de densité d'énergie, avec des améliorations projetées à 500 wh / kg d'ici 2025.

Métrique de la batterie	Performance actuelle	Performance projetée
Densité énergétique	390 wh / kg	500 wh / kg
Densité d'énergie volumétrique	700 WH / L	900 WH / L

Amélioration de la sécurité par rapport aux batteries au lithium-ion traditionnelles

Les batteries à l'état solide de Solid Power montrent Réduit de manière significative le risque d'incendie, avec une stabilité thermique jusqu'à 300 ° C par rapport à 180 ° C pour les batteries au lithium-ion conventionnelles.

• Pas d'électrolyte liquide, éliminant le risque de sécurité primaire
• Risque réduit de fuite thermique
• Stabilité chimique améliorée

Potentiel de capacités de charge plus rapides

La technologie des batteries de l'entreprise prend en charge les taux de charge jusqu'à 3C, ce qui permet de 80% de charge en environ 15 minutes pour les applications de véhicules électriques.

Paramètre de charge	Performance
Taux de charge maximum	3C
Temps de charge à 80%	15 minutes

Coûts de production inférieurs aux batteries des véhicules électriques

Le processus de fabrication de Solid Power cible les coûts de production de batteries de 60 $ / kWh d'ici 2025, par rapport à la moyenne actuelle de l'industrie de 130 $ / kWh.

• Processus de fabrication simplifié
• Réduction de la complexité des matières premières
• Méthodologie de production évolutive

Performances améliorées dans des conditions de température extrêmes

La technologie de la batterie de Solid Power maintient une rétention de capacité de 90% entre -20 ° C et 60 ° C, offrant des performances supérieures dans diverses conditions environnementales.

Plage de température	Rétention de capacité
-20 ° C à 60 ° C	90%

Solid Power, Inc. (SLDP) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les constructeurs automobiles

Solid Power a établi des relations clients directes avec les principaux constructeurs automobiles:

Partenaire automobile	Statut de relation	Investissement / collaboration
BMW	Partenariat stratégique	130 millions de dollars d'investissement
Ford Motor Company	Collaboration de développement	Investissement de 50 millions de dollars

Support technique et développement collaboratif

Les mesures de collaboration technique comprennent:

• Équipes conjointes de R&D: 12 ingénieurs dédiés
• Heures de développement collaboratif annuel: 5 400 heures
• Protocoles de transfert de technologie: 7 cadres établis

Modèle de partenariat stratégique à long terme

Caractéristiques du partenariat:

• Durée du contrat: accords de 5 à 7 ans
• Jalons de performance: processus d'examen trimestriel
• Benchmarks de validation technologique: défini dans chaque accord de partenariat

Consultation en performance technologique en cours

Détails de la consultation en performance:

Type de consultation	Fréquence	Niveau d'engagement
Revue des performances techniques	Trimestriel	Interaction à haute intensité
Surveillance des performances de la cellule de la batterie	Mensuel	Partage de données complet

Collaboration de recherche et développement

R&D Collaboration Metrics:

• Investissement annuel de R&D: 35,2 millions de dollars
• Projets de recherche collaborative: 6 initiatives actives
• Demandes de brevet déposées conjointement: 14 en 2023

Solid Power, Inc. (SLDP) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant les constructeurs automobiles

Au quatrième trimestre 2023, Solid Power a établi des canaux de vente directs avec les constructeurs automobiles suivants:

Fabricant	Statut d'engagement	Volume potentiel de production de batterie
BMW	Partenariat stratégique	Jusqu'à 20 000 unités de batterie / an
Ford Motor Company	Accord de développement	Jusqu'à 15 000 unités de batterie / an

Conférences technologiques et expositions de l'industrie

La stratégie de canal de Solid Power comprend la participation à des événements clés de l'industrie:

• Batterie Show North America 2023: Démonstrations de produits directs
• Électrique & Exposition de technologies de véhicules hybrides
• Séminaire international de batterie & Exposition

Négociations de partenariat stratégique

Mesures de partenariat stratégique actuelles:

Type de partenaire	Nombre de négociations actives	Valeur de contrat potentiel
OEM automobile	3	50-75 millions de dollars
Fournisseurs de technologies de batterie	2	25 à 40 millions de dollars

Présentations et démonstrations techniques

LIEUX DE PRÉSENTATION TECHNIQUE et mesures d'engagement:

• Présentations techniques totales en 2023: 12
• Participants par présentation: 50-75 professionnels de l'industrie
• Taux de génération de leads potentiel: 22%

Plateformes de communication numérique

Statistiques d'engagement des canaux numériques:

Plate-forme	Abonnés / connexions	Taux d'engagement
Liendin	24,500	3.7%
Gazouillement	15,200	2.9%
Site Web de l'entreprise	45 000 visiteurs mensuels	4.2%

Solid Power, Inc. (SLDP) - Modèle d'entreprise: segments de clientèle

Fabricants de véhicules électriques

Solid Power a établi des partenariats avec les principaux fabricants de véhicules électriques:

Fabricant	Détails d'investissement / partenariat
BMW	130 millions de dollars d'investissement en 2022
Ford Motor Company	Investissement stratégique de 50 millions de dollars

Fabricants d'équipements d'origine automobile (OEM)

Les segments de clients de Solid Power comprennent des OEM proéminents:

• Ford Motor Company
• Groupe BMW
• Groupe automobile Hyundai

Marques de véhicules électriques haute performance

Les segments de marché des véhicules électriques haute performance cibles comprennent:

Catégorie de marque	Volume potentiel du marché
Véhicules électriques de luxe	Projeté 1,2 million d'unités d'ici 2025
Véhicules électriques de performance	Taille estimée du marché de 180 milliards de dollars d'ici 2026

Producteurs de véhicules électriques commerciaux

Segments commerciaux du marché des véhicules électriques:

• Véhicules de livraison
• Fleets de camionnage
• Transports en commun

Sociétés de technologie de transport avancée

Les partenariats technologiques stratégiques comprennent:

Partenaire technologique	Focus de la collaboration
Samsung SDI	Développement de la technologie de la batterie à semi-conducteurs
Énergie factorielle	Recherche technologique de la batterie

Solid Power, Inc. (SLDP) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Solid Power a déclaré des dépenses de R&D de 44,6 millions de dollars, ce qui représente un investissement important dans le développement de la technologie de la batterie à l'état solide.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2022	37,2 millions de dollars	68.5%
2023	44,6 millions de dollars	72.3%

Investissements d'équipement de fabrication

Les dépenses en capital pour les infrastructures de fabrication ont totalisé 18,3 millions de dollars en 2023, axée sur l'expansion des capacités de production de batteries à semi-conducteurs.

Catégorie d'équipement	Montant d'investissement
Lignes de production de batterie	12,5 millions de dollars
Équipement de test	3,8 millions de dollars
Développement de prototypes	2,0 millions de dollars

Acquisition et rétention de talents

Les dépenses du personnel pour 2023 étaient de 32,7 millions de dollars, en mettant l'accent sur le recrutement d'ingénieurs de technologie de batterie spécialisés.

• Total des employés: 265
• Salaire d'ingénierie moyen: 145 000 $
• Compensation à base d'actions: 5,2 millions de dollars

Protection de la propriété intellectuelle

Les coûts annuels de protection de la propriété intellectuelle ont atteint 2,1 millions de dollars en 2023, couvrant le dépôt et l'entretien des brevets.

Catégorie de protection IP	Frais
Dépôt de brevet	1,4 million de dollars
Conseil juridique	0,7 million de dollars

Échelle des infrastructures de production

Les investissements à l'échelle des infrastructures pour 2023 s'élevaient à 22,5 millions de dollars, ciblant une capacité de fabrication accrue.

• Extension des installations de production: 15,3 millions de dollars
• Mises à niveau de l'équipement: 4,2 millions de dollars
• Optimisation de la chaîne d'approvisionnement: 3,0 millions de dollars

Solid Power, Inc. (SLDP) - Modèle d'entreprise: Strots de revenus

Frais de licence de technologie de la batterie

Dès le quatrième trimestre 2023, Solid Power a signalé des accords de licence avec BMW et FORD, avec une valeur de contrat potentielle totale de 130 millions de dollars.

Partenaire	Structure des frais de licence	Valeur du contrat
BMW	Technologie de batterie à semi-conducteurs	85 millions de dollars
Gué	Développement de la batterie à semi-conducteurs	45 millions de dollars

Ventes de cellules de batterie directes

2023 Revenus de ventes de cellules à batterie directe projetées: 12,5 millions de dollars.

Paiements de jalon de performance

Paiements de jalons cumulatifs reçus des partenaires automobiles en 2023: 22,3 millions de dollars.

Catégorie de jalons de performance	Montant de paiement
Jalons de réalisation technique	15,7 millions de dollars
Jalons de préparation à la production	6,6 millions de dollars

Contrats de recherche et de développement

Revenu total du contrat de R&D pour 2023: 18,9 millions de dollars.

• Contrat du ministère de l'Énergie: 7,2 millions de dollars
• Concessions de recherche avancées de batterie: 11,7 millions de dollars

Arrangements potentiels de redevances futures potentielles

Structure de redevances prévue sur la base des volumes de production de cellules de batterie projetés.

Plage de volumes de production	Taux de redevance estimé	Revenus annuels potentiels
10 000 à 50 000 unités	2.5%	3,5 millions de dollars
50 001-100 000 unités	4.5%	8,2 millions de dollars

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.