Solid Power (SLDP) J.P. Morgan Automotive Conference summary

Strategic positioning and technology leadership

• Holds a leading position in sulfide electrolytes for all-solid-state batteries, leveraging over 15 years of development and a capital-light business model.

• Differentiated by a scalable wet process, high yield, and a robust feedback loop for rapid innovation and validation.

• Pioneered sulfide-based electrolytes, now widely adopted in industry roadmaps for their superior ionic conductivity and manufacturability.

• Utilizes AI and machine learning to optimize manufacturing and product innovation, supported by a pre-pilot Electrolyte Innovation Center.

• Maintains strong global partnerships with BMW, SK On, and Samsung SDI, enabling collaborative advancements.

Commercialization, scale-up, and manufacturing

• Transitioning from technology licensing to electrolyte supply at the pilot level, with a focus on scaling production.

• Operating a 30 metric ton batch facility in Colorado, commissioning a continuous flow line to reach 75 metric tons, and planning a JV in Korea for 500 metric tons, with a vision for 20,000 metric tons in 3–5 years.

• Received a $50 million DOE grant in 2024 to support the continuous manufacturing project, with commissioning expected in Q4 2024 and production start in Q1 2027.

• Prioritizing capital allocation toward the continuous line and JV activities, with plans to expand the commercialization team.

• Achieved stage one ISO 9001 audit, aiming for full certification by year-end to support JV and customer confidence.

Market focus and expansion opportunities

• Primary focus remains on EVs, but significant interest is emerging from robotics, humanoids, mining, aviation, and defense.

• Humanoid robotics market shares similar requirements with EVs, offering attractive proof points and comparable qualification cycles.

• Mining is identified as a near-term opportunity, while aerospace and defense are less prioritized due to market size and competition.

• Customization of electrolyte formulations is balanced with emerging standardization among larger customers.

• Collaboration revenue is declining as electrolyte supply revenue rises, with licensing becoming less significant.