Solid Power shows strength to raise $20m

Sep 13, 2018 • Robert Lavine

The solid-state battery developer has closed a series A round that included Hyundai, Samsung, Solvay, Sanoh Industrial and A123 Systems.

US-based solid-state battery developer Solid Power has completed a $20m series A round featuring corporate investors Samsung, Sanoh Industrial, Hyundai, Solvay and A123 Systems.

Carmaker Hyundai, electronics producer Samsung and chemicals supplier Solvay took part through subsidiaries Hyundai Cradle, Samsung Venture Investment and Solvay Ventures but automotive components maker Sanoh and advanced battery producer A123 invested directly.

Founded in 2012, Solid Power provides all solid-state batteries (ASSB) that utilise solid electrodes and electrolytes rather than the liquid or polymer electrolytes…

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