University of Colorado Boulder spin-out Solid Power to commercialise state lithium battery.

Solid Power, a US-based energy spin-out of the University of Colorado Boulder, has completed a commercialisation agreement with the university’s tech transfer office for a solid-state rechargeable lithium battery.

The new technology allows for less bulky batteries with an increased energy storage capacity. Solid Power now intends to commercialise the battery, with a focus on utilising it in the next-generation of electric vehicles.

The firm is yet to raise any venture backing, but has secured a $3.4m grant from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy for development of the battery.

Douglas Campbell, president of Solid Power, said: “We’re very excited about the opportunity to achieve commercial success for the all solid-state rechargeable battery. We’re actively engaging industrial commercial partners to assist in commercialization and expect to have prototype products ready for in-field testing within 18 to 24 months.”