THORNTON ~ Thornton, Colorado - Governor Jared Polis, Department of Energy Deputy Secretary David Turk, and Solid Power CEO and President John Van Scoter were among the leaders who gathered at Solid Power today to celebrate the company's historic $50 million funding from the Biden-Harris administration. This funding will support Solid Power's production of batteries for electric vehicles.

Governor Polis expressed his excitement about the growth of electric vehicle sales in Colorado, stating that over 22% of new cars sold in the state are now electric. He also emphasized the need for continued innovation in battery technology to meet the increasing demand for electric vehicles. "We are excited that these efforts are spearheaded right here in Colorado," said Governor Polis. "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."

The grant from the Biden-Harris administration will allow Solid Power to install a continuous manufacturing process for sulfide-based solid electrolyte materials, which are used in advanced all-solid-state batteries (ASSBs). This expansion will also increase their electrolyte production capabilities at their Thornton facility.

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Department of Energy Deputy Secretary David Turk praised Solid Power for their commitment to clean energy technologies and new manufacturing techniques. "It takes time to take an idea from the laboratory and bring it to market," said Turk. "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."

Colorado Energy Office Executive Director Will Toor highlighted the importance of innovations in EV battery technology in achieving net-zero greenhouse gas emissions by 2050. "Innovations in EV battery technology will make driving an EV more feasible for people across the state and country," said Toor. "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."

Solid Power's expansion in Colorado will also bring more than 40 new jobs to the state. OEDIT Executive Director Eve Lieberman expressed her excitement about the company's success and its impact on the renewable energy sector. "We are thrilled to celebrate Solid Power's homegrown success in Colorado," said Lieberman. "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."

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The positions created by Solid Power's expansion will include production operators, chemists, and engineers. The company is also partnering with local institutions such as Northglenn High School, Front Range Community College, and Metropolitan State University of Denver for internship programs. They have also formed a partnership with the local Adams 12 school district.

The State of Colorado has been a strong supporter of Solid Power since its early days. In 2014, the company received an Advanced Industries Accelerator grant from OEDIT's Global Business Development division to support the development of early-stage technologies.

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

Solid Power is a national leader in creating sulfide-based solid electrolytes for all-solid-state batteries used in electric vehicles. Their batteries are expected to provide more energy with a longer life and be 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 through the first known global implementation of an efficient continuous manufacturing process.

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