24/7 Market News Snapshot 20 September, 2024 – Solid Power, Inc. Class A Common Stock (NASDAQ:SLDP)

September 20, 2024

DENVER, Colo., 20 September, 2024 (247marketnews.com) – (NASDAQ:SLDP) are discussed in this article.
Solid Power, Inc. has captured significant investor attention with its stock price reaching $1.545, marking a notable increase of approximately 16.17% from the previous close of $1.33. The trading session saw an active volume of 2.37 million shares, indicating heightened market interest and the potential for continued fluctuations. As the company navigates this upward path, investors are encouraged to observe key technical indicators, which may suggest support around $1.39 and possible resistance at recent high levels.

In addition to its impressive stock performance, Solid Power is poised to advance its innovative mission in the solid-state battery sector. The company has been selected to enter negotiations for a federal funding award from the U.S. Department of Energy’s Office of Manufacturing and Energy Supply Chains, which could yield up to $50 million as part of the Bipartisan Infrastructure Law. This significant funding aims to streamline and enhance energy manufacturing processes within the United States.

With this funding opportunity, Solid Power intends to pioneer a continuous manufacturing approach for sulfide-based solid electrolyte materials, a crucial component in the creation of advanced all-solid-state batteries (ASSBs). Currently producing 30 metric tons of electrolyte each year, the company aims to increase its production to 75 metric tons by 2026 and ultimately to 140 metric tons by 2028. These ambitious production goals not only address expected market needs but also promise a reduction in manufacturing costs through innovative practices.

John Van Scoter, President and CEO of Solid Power, emphasized the importance of this funding selection, stating, “Our selection for funding by the U.S. Department of Energy validates the immense potential of sulfide-based all-solid-state batteries.” Looking ahead, Solid Power anticipates the creation of approximately 40 new full-time jobs, reflecting its commitment to economic growth and innovation in the energy sector. As it progresses on this path, Solid Power continues to establish itself as a leader in the advancement of sustainable battery technology.

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