Brussels, September 11, 2018 — Solvay Ventures announced today its equity investment in US based Solid Power, a leading developer of next-generation solid-state batteries. Solid Power’s breakthrough improvements in energy density and safety have led to its successful Series A financing with investors such as Samsung, Hyundai cradle, Sanoh, and A123 Systems, in addition to the previously announced partnership with BMW.
Solvay is a provider of key materials in Li-ion batteries, from cathode binders to high performance electrolytes. Solvay is committed to developing, next generation, high performing battery materials to support the transition to sustainable mobility, with the performance and cost needed to enable vehicle electrification. In addition to internal R&D efforts, investments in companies like Solid Power further Solvay’s support of groundbreaking start-ups that aim to make material improvement in battery technologies.
”Solid Power has assembled a world class consortium of material providers and automotive companies that share their vision and commitment to rapidly develop safe and high performance solid-state batteries” said Stéphane Roussel, Solvay Ventures Managing Director. “Solid Power’s technology has the performance, manufacturing scale, and low costs required by the automotive industry to become the leading battery technology in cars of the future” added Matt Jones, Solvay Ventures Managing Director for North America.
Solid Power, a spin-out from the University of Colorado Boulder, originated in 2012 by a team of world-class battery researchers and engineers. The ground-breaking solid-state technology enables the safe application of lithium metal anodes as a mean to achieving outstanding energy density.
“We are excited for this opportunity to strengthen our relationship with Solvay. This partnership contributes to our company’s efforts to revolutionize the energy storage market through developing and commercializing all solid-state batteries,” said Doug Campbell, CEO of Solid Power.