Solid Power, Inc. (SLDP) stock is trading higher on Friday, fueled by news of a potential $50 million grant from the U.S. Department of Energy. This funding, secured through the Bipartisan Infrastructure Law, will support the development of a continuous manufacturing process for sulfide-based solid electrolyte materials. These materials are essential for enhancing the performance of advanced all-solid-state batteries, promising significant improvements in energy density, safety, stability, and cost efficiency.
The Department of Energy recognizes the potential of Solid Power’s technology and its contribution to the future of battery technology. Solid Power currently boasts a production capacity of 30 metric tons of electrolyte annually. This funding will enable them to scale up production, reaching 75 metric tons by 2026 and 140 metric tons by 2028. This expansion is critical to meet the anticipated demand for sulfide-based solid electrolytes as the technology gains traction in the market.
John Van Scoter, President, and CEO of Solid Power expressed his enthusiasm for the grant, stating, “We view our selection for funding by the U.S. Department of Energy as validation of the promise sulfide-based all-solid-state batteries hold. By adopting a continuous manufacturing process for our electrolyte, we expect to be able to meet anticipated near-term demand and set Solid Power up to become the leading global producer of sulfide-based solid electrolyte.”
For investors interested in participating in the Solid Power market, purchasing shares is typically done through a brokerage account. Numerous trading platforms offer fractional shares, allowing investors to own portions of stock without buying an entire share. For example, Solid Power shares are currently trading at $1.49, meaning $100 could purchase approximately 67.11 shares.
If you’re looking to bet against Solid Power, the process is more complex. Access to an options trading platform or a broker who facilitates short-selling is required. Shorting a stock involves borrowing shares and selling them with the intention of repurchasing them at a lower price, profiting from the price decline. Another option is to purchase put options or sell call options at a strike price above the current trading price, also enabling profit from a share price decrease.
The news of the DOE grant has sent SLDP shares soaring. At the time of publication, Solid Power shares are up 12.8% at $1.50, according to data from Benzinga Pro. This surge reflects the market’s confidence in Solid Power’s potential and the significant impact its technology could have on the future of energy storage.
