Governor Polis and Department of Energy Deputy Secretary Turk Celebrate $50 Million in Funding for Clean Battery Manufacturing in Colorado, Visit Solid Power Which is Bringing[...]

THORNTON - Today, Governor Polis, Department of Energy Deputy Secretary David Turk, Solid Power CEO and President John Van Scoter and other leaders visited Solid Power to celebrate the historic $50 million in funding the company will receive from the Biden-Harris administration to continue producing the batteries that help power electric vehicles.

"Today, more than 22% of new cars sold in Colorado are electric, and it's growing fast. As more and more people drive electric cars, the need for new inventions to create the next generation of better batteries to power EVs increases as well. We are excited that these efforts are spearheaded right here in Colorado. Solid Power is leading the way by developing and manufacturing batteries that provide more energy with a longer life, safer and at a lower cost for Coloradans," said Governor Jared Polis.

Solid Power will use the grant to install the first globally-known continuous manufacturing process of sulfide-based solid electrolyte materials for advanced all-solid-state batteries (ASSBs) and expand its electrolyte production capabilities at its Thornton facility.

"It takes time to take an idea from the laboratory, and bring it to the market. There is no better time than the present to invest in clean energy technologies and bolster new manufacturing techniques to build a cleaner future. Solid Power has taken the initiative to develop and create lasting energy to revolutionize the way we manufacture batteries, and I am excited to see others follow this lead," said Department of Energy Deputy Secretary David Turk.

"Colorado has ambitious EV adoption goals that are essential to achieve net-zero greenhouse gas emissions by 2050," said Colorado Energy Office Executive Director Will Toor. "Innovations in EV battery technology will make driving an EV more and more feasible for people across the state and country. We're proud of Colorado's leadership, not just in adopting EVs, but also in advancing the technology needed to power our clean energy future."

Governor Polis recently joined with Solid Power and the Office of Economic Development and International Trade to announce that the company would be expanding in Colorado, bringing more than 40 new jobs with it.

"We are thrilled to celebrate Solid Power's homegrown success in Colorado. With this historic Department of Energy funding, the company will continue its story in our state, advancing critical new technology and creating 40 good-paying jobs for Coloradans in the renewable energy sector," said OEDIT Executive Director Eve Lieberman.

With this expansion, Solid Power expects to create up to 40 net new jobs at an average annual wage of $77,823.90, which is 111% of the average annual wage in Adams County. The positions will include production operators, chemists, and engineers. Solid Power is also partnering with local institutions such as Northglenn High School, Front Range Community College, and Metropolitan State University of Denver for internship programs, as well as a partnership with the local Adams 12 school district.

The State of Colorado supported Solid Power's early growth with an Advanced Industries Accelerator grant in 2014, offered through OEDIT's Global Business Development division to support the development of early-stage technologies.

To support the company's upcoming expansion, the Colorado Economic Development Commission approved up to $160,000 in a performance-based Strategic Fund incentive over an eight-year period, at $4,000 per net new job. These incentives are contingent upon Solid Power meeting net new job creation and salary requirements.

Solid Power is a national leader in creating the sulfide-based solid electrolytes that help manufacture all-solid-state batteries, which can power electric vehicles. Their batteries are expected to provide more energy with a longer life, and safer and lower cost than conventional lithium-ion technology. With this grant, Solid Power plans to expand their production in Thornton and reduce their costs of production through the first known global implementation of an efficient, continuous manufacturing process.

###