olivLaw · US equity research
Solid Power, Inc. SLDP
Miscellaneous Electrical Machinery, Equipment & Supplies · SIC 3690 · Vertical: Miscellaneous Electrical Machinery, Equipment & Supplies (SIC 3690)
Solid Power develops a sulfide-based solid electrolyte for solid-state batteries, sold to battery makers and automakers rather than producing its own cells. The company is still in development with low revenue, but held total liquidity of 419.3 million USD as of June 30, 2026.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Solid Power, Inc. (SLDP) stock was 2.25 USD (+10.84% on the day), with market capitalisation 513.4 m USD, beta 1.89, 52-week range 1.95–8.51 USD. Latest reported quarter (Q2 2026): revenue of -268.0 k USD (−103.6% YoY), net income of -23.8 m USD, diluted EPS -0.11 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 57.0
- strong (55–70)
- Bollinger (20, 2)
- 1.82 – 2.35
- in the upper half of the band · %B 0.81 · band width 25.3%
- SMA 50 / 200
- 2.28 / 2.90
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.06 / -0.08
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.2% | −2.0% | −0.2 pp | — |
| 3 months | +5.1% | −2.2% | +7.3 pp | — |
| 6 months | −32.7% | +4.3% | −37.0 pp | — |
| Year to date | −47.1% | +10.6% | −57.6 pp | — |
| 1 year | −59.9% | +10.5% | −70.4 pp | −60.2% |
| 3 years | +60.7% | +73.7% | −13.0 pp | −50.2% |
| 5 years | −80.2% | +61.7% | −142.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.7 m | 4.5 m | 6.0 m | 7.5 m | 4.6 m | 3.6 m | 3.1 m | -268.0 k |
| Research & development | 17.3 m | 18.6 m | 19.0 m | 18.3 m | 18.3 m | 16.9 m | 17.7 m | 19.4 m |
| Operating income | -27.6 m | -25.0 m | -24.0 m | -25.9 m | -24.4 m | -26.5 m | -26.3 m | -30.3 m |
| Depreciation & amortisation | 4.0 m ≈ | 4.5 m | 4.5 m | 4.6 m ≈ | 4.6 m ≈ | 4.7 m | 4.7 m | 4.8 m ≈ |
| Interest expense | 11.0 k | 9.0 k | 8.0 k | 7.0 k | 6.0 k | 4.0 k | 197.0 k | 9.0 k |
| Pre-tax income | -22.0 m | -30.2 m | -15.1 m | -26.0 m | -24.9 m | -27.5 m | -12.9 m | -24.0 m |
| Income tax | 376.0 k | 307.0 k | — | 6.0 k | 360.0 k | -373.0 k | 84.0 k | -79.0 k |
| Net income | -22.4 m | -30.6 m | -15.2 m | -25.3 m | -25.9 m | -27.1 m | -13.0 m | -23.8 m |
| Diluted EPS | -0.13 | — | -0.08 | -0.14 | -0.14 | — | -0.06 | -0.11 |
| Operating cash flow | -9.9 m ≈ | -13.9 m | -26.3 m | -14.4 m ≈ | -14.3 m ≈ | -18.4 m | -18.8 m | -8.4 m ≈ |
| Capex | 2.8 m ≈ | 4.7 m | 2.4 m | 2.7 m ≈ | 570.0 k ≈ | 4.6 m | 1.7 m | 6.3 m ≈ |
| Share repurchases | 0 ≈ | 798.0 k | — | 3.6 m | 0 ≈ | 0 | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 2.1 m | 2.7 m | 11.8 m | 17.4 m | 20.1 m | 21.7 m |
| Revenue YoY | unavailable | +29.0% | +334.7% | +47.7% | +15.7% | +8.0% |
| Net income | -14.4 m | 18.1 m | -9.6 m | -65.5 m | -96.5 m | -93.4 m |
| Net income YoY | unavailable | unavailable | −152.8% | unavailable | unavailable | unavailable |
| Diluted EPS | -0.21 | 0.11 | -0.05 | -0.37 | -0.54 | -0.51 |
| Diluted EPS YoY | unavailable | unavailable | −145.5% | unavailable | unavailable | unavailable |
| net % | -683.5% | 667.1% | -81.1% | -376.5% | -479.3% | -429.5% |
| Free cash flow | -11.0 m | -38.1 m | -92.1 m | -92.8 m | -79.8 m | -83.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 21.6 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 415.7 m USD
- Total assets
- 455.1 m USD
- Debt / equity
- unavailable
- Current ratio
- 15.92x
- ROE
- -22.6%
- ROA
- -20.7%
- FCF margin
- -384.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.1 m | 2.7 m | 11.8 m | 17.4 m | 20.1 m | 21.7 m | SEC (XBRL)· 25 Feb 2026verified |
| Research & development | 9.6 m | 17.1 m | 38.6 m | 54.7 m | 73.3 m | 72.5 m | SEC (XBRL)· 25 Feb 2026verified |
| SG&A | — | — | — | — | 31.8 m | 29.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Operating income | -11.6 m | -26.5 m | -59.1 m | -90.6 m | -105.3 m | -100.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Depreciation & amortisation | 2.1 m | 2.4 m | 5.2 m | 12.0 m | 16.5 m | 18.4 m | SEC (XBRL)· 25 Feb 2026verified |
| EBITDA | -9.5 m ≈ | -24.2 m ≈ | -53.9 m ≈ | -78.7 m ≈ | -88.9 m ≈ | -82.4 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Interest expense | 361.0 k | 394.0 k | 42.0 k | 84.0 k | 46.0 k | 25.0 k | SEC (XBRL)· 25 Feb 2026verified |
| Pre-tax income | -14.3 m | 18.1 m | -9.8 m | -65.5 m | -95.2 m | -93.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Income tax | 118.0 k | -25.0 k | -227.0 k | 2.0 k | 1.2 m | -8.0 k | SEC (XBRL)· 25 Feb 2026verified |
| Net income | -14.4 m | 18.1 m | -9.6 m | -65.5 m | -96.5 m | -93.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Diluted EPS | -0.21 | 0.11 | -0.05 | -0.37 | -0.54 | -0.51 | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 5.0 m | 513.4 m | 50.1 m | 34.5 m | 25.4 m | 21.6 m | SEC (XBRL)· 25 Feb 2026verified |
| Receivables | — | — | — | — | 1.4 m | 2.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Current assets | 5.5 m | 594.4 m | 327.8 m | 183.1 m | 125.2 m | 267.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Property, plant & equipment, net | 8.5 m | 22.1 m | 82.8 m | 99.2 m | 97.2 m | 86.3 m | SEC (XBRL)· 25 Feb 2026verified |
| Goodwill | — | — | 0 | — | — | — | SEC (XBRL)· 01 Mar 2023verified |
| Intangibles (excl. goodwill) | 248.0 k | 619.0 k | 1.1 m | 1.7 m | 2.1 m | 2.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Total assets | 14.2 m | 617.7 m | 594.4 m | 532.8 m | 448.3 m | 455.1 m | SEC (XBRL)· 25 Feb 2026verified |
| Accounts payable | — | 4.3 m | 10.1 m | — | — | — | SEC (XBRL)· 10 May 2023verified |
| Short-term debt | 1.2 m | 120.0 k | 7.0 k | — | — | — | SEC (XBRL)· 01 Mar 2023verified |
| Long-term debt | 1.5 m | 10.0 k | 7.0 k | — | — | — | SEC (XBRL)· 01 Mar 2023verified |
| Current liabilities | 1.8 m | 8.4 m | 20.7 m | 15.9 m | 20.0 m | 16.8 m | SEC (XBRL)· 25 Feb 2026verified |
| Total liabilities | 10.3 m | 59.0 m | 39.1 m | 29.5 m | 37.9 m | 38.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Equity | 3.9 m † | 558.7 m † | 555.4 m † | 503.3 m † | 410.3 m † | 415.7 m † | SEC (XBRL)· 25 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -10.0 m | -25.4 m | -33.8 m | -58.3 m | -63.9 m | -73.4 m | SEC (XBRL)· 25 Feb 2026verified |
| Capex | 1.0 m | 12.6 m | 58.3 m | 34.5 m | 15.9 m | 10.2 m | SEC (XBRL)· 25 Feb 2026verified |
| Free cash flow | -11.0 m ≈ | -38.1 m ≈ | -92.1 m ≈ | -92.8 m ≈ | -79.8 m ≈ | -83.6 m ≈ | SEC (XBRL)· 25 Feb 2026derived |
| Investing cash flow | -1.1 m | -88.9 m | -430.0 m | 42.5 m | 64.2 m | -19.9 m | SEC (XBRL)· 25 Feb 2026verified |
| Financing cash flow | 5.4 m | 622.8 m | 485.0 k | 173.0 k | -9.4 m | 89.5 m | SEC (XBRL)· 25 Feb 2026verified |
| Share repurchases | — | — | — | — | 9.1 m | 3.6 m | SEC (XBRL)· 25 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 513.4 m USD
Key indicators
Coverage and freshness
Score by group
66% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | unavailable | unavailable | — |
| EBIT margin · Quality | -978.2% | 6 (vs peers) | 13% |
| FCF margin · Quality | -663.2% | 0 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | 22.6% | 91 (on a fixed band) | 26% |
| Revenue growth (YoY) · Growth | 8.0% | 50 (vs peers) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 14.6x | 100 (on a fixed band) | 10% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -14.2% | 0 (on a fixed band) | 19% |
| Shareholder yield (distributions) · Returns | 0.7% | 45 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth77/100 · 2/2 factors with a value
- Quality3/100 · 2/3 factors with a value
- Returns45/100 · 1/1 factors with a value
- Valuation· partial0/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
SOLID POWER, INC. (SLDP). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 21.7 m USD in 2025; YoY growth 8.0%; net margin -816.4%; ROE -20.6%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 22.6%
- Current ratio: 14.6x
What contradicts it
- EBIT margin: -978.2%
- FCF margin: -663.2%
- FCF yield: -14.2%
Not assessed (insufficient data or a ratio without meaning): Gross margin, Net debt / EBITDA, EV/Sales.
Versus the vertical median
Miscellaneous Electrical Machinery, Equipment & Supplies (SIC 3690) · same industry (4-digit SIC) · compared with 38 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ENSEnerSys | 5.6 bn | 16.7 | 18.4% | 9.3% | +3.7% | +9% / +76% |
| NOVTNovanta Inc. | 5.5 bn | 92.8 | 5.1% | 6.0% | +3.3% | +28% / +1% |
| ATKRAtkore Inc. | 3.2 bn | — | -11.9% | -5.5% | −11.0% | +37% / −24% |
| SPBSpectrum Brands Holdings, Inc. | 2.1 bn | 28.0 | 4.2% | 2.8% | −5.2% | +54% / +32% |
| NVXNOVONIX Ltd | 1.9 bn | — | -62.0% | -1,650.8% | −4.1% | −81% / −88% |
| ENREnergizer Holdings, Inc. | 1.7 bn | 21.3 | 42.2% | 2.7% | +2.3% | +38% / −18% |
| AMPXAmprius Technologies, Inc. | 1.2 bn | — | -36.1% | -33.4% | +202.1% | −25% / +106% |
| EMATEvolution Metals & Technologies Corp. | 1.2 bn | — | — | — | unavailable | unavailable / unavailable |
| EOSEEos Energy Enterprises, Inc. | 779.3 m | — | — | -246.8% | +631.8% | −86% / +95% |
| ENVXEnovix Corporation | 612.3 m | — | -82.2% | -473.9% | +37.9% | −64% / −75% |
| NRGVEnergy Vault Holdings, Inc. | 578.2 m | — | -225.9% | -48.6% | +340.9% | −8% / +38% |
| SLDPSolid Power, Inc. | 513.4 m | — | -20.6% | -816.4% | +8.0% | −60% / +61% |
| FLNCFluence Energy, Inc. | 312.1 m | — | -20.7% | -3.1% | −16.1% | −69% / −76% |
| CHPTChargePoint Holdings, Inc. | 306.4 m | — | -1,015.1% | -40.6% | −1.4% | +39% / −69% |
| SESSES AI Corporation | 286.4 m | — | -31.2% | -289.6% | +929.4% | −60% / −63% |
| ULBIEnerSys | 260.3 m | 1.4 | -4.8% | -3.5% | +16.2% | +175% / +109% |
| MVSTMicrovast Holdings, Inc. | 255.7 m | — | 11.4% | 13.9% | +12.6% | −81% / −43% |
| ELVAElectrovaya Inc. | 173.4 m | — | -673.8% | -3.4% | +170.8% | +7% / +94% |
| ELPWElong Power Holding Ltd. | 145.7 m | — | — | -271.3% | +430.7% | −100% / −100% |
| NEOVNeoVolta, Inc. | 134.6 m | — | -101.1% | -161.0% | +58.2% | −44% / +28% |
| GAUZGauzy Ltd. | 127.5 m | — | — | -51.4% | +32.8% | −86% / unavailable |
| BYRNByrna Technologies Inc. | 97.4 m | — | -14.9% | -9.2% | +37.7% | −77% / −29% |
| EPOWE-Power Inc. | 88.8 m | — | — | -35.8% | −28.6% | −88% / −87% |
| BLNKBlink Charging Co. | 65.4 m | — | -79.9% | -52.2% | −18.0% | −66% / −86% |
| STISolidion Technology, Inc. | 37.8 m | — | -1,382.4% | -23,852.8% | unavailable | −59% / −99% |
1- and 3-year price returns: for SLDP from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results).
In brief
Solid Power develops a sulfide-based solid electrolyte for solid-state batteries, sold to battery makers and automakers rather than producing its own cells. The company is still in development with low revenue, but held total liquidity of 419.3 million USD as of June 30, 2026 3.
SWOT
Strengths
- The company has a rare combination of pilot capabilities for sulfide electrolyte and for solid-state cells, which lets it give technical feedback to customers 1.
- High liquidity and no financial debt give it room to pursue development over several years 23.
- Partnerships with major battery makers and automakers provide technology validation and access to potential customers 13.
Weaknesses
- The company has not yet generated enough revenue to cover its costs, and operating losses remain significant 12.
- Agreements with partners lack final economic terms for electrolyte sales or cell licensing, which makes financial projections uncertain 1.
- Safety testing of its cells is preliminary, and technical validation of its products is still at early stages 1.
Opportunities
- Completing the continuous manufacturing line could allow the move from pilot production to commercial volumes 13.
- A possible partnership in South Korea for commercial-scale production could speed up delivery capacity 13.
- If battery makers adopt sulfide architectures, demand for electrolyte could grow significantly 1.
Threats
- If the pace of solid-state cell development slows, commercialization of the electrolyte could be postponed or abandoned 12.
- Competition from better-capitalized companies or alternative technologies could reduce the company's market share 1.
- Dependence on electric vehicle adoption and government policy could affect demand, and supply chain disruptions or tariffs could raise costs 13.
Risks
- Technical and production delayshigh
Developing electrolyte at volume and with acceptable performance is difficult, and delays could postpone revenue from commercialization 1.
- Lack of final commercial termshigh
The company has not yet agreed with partners on economic terms for electrolyte sales or cell licensing, which makes the evolution of revenue uncertain 12.
- Reliance on equity financingmedium
Capital and operating expenditures are large, and the company has relied on share issuances and registered direct offerings; if liquidity declines, additional financing could be needed on less favorable terms 13.
- Dependence on partnersmedium
Agreements are non-exclusive, and partners may choose other technologies or partners, which could affect commercialization plans 1.
- Litigation and intellectual propertylow
The company has not performed exhaustive searches of the industry's intellectual property landscape, and infringement claims could entail significant costs 1.
Investment thesis
What would need to be true (bull case)
- If the company's electrolyte confirms its performance with customers and the continuous line starts on schedule, it could attract firmer commercial contracts 13.
- Strong liquidity and no debt provide time to move through development stages without immediate financing pressure 23.
- Partnerships with Samsung SDI, BMW and SK On could serve as validation for broader technology adoption 13.
What would break the thesis
- Revenue remains small and was even negative in some quarters, and operating losses could continue if commercialization is delayed 23.
- Without final economic terms with partners, revenue projections could be revised downward 1.
- The market for sulfide electrolytes is unproven, and if battery makers choose other architectures, demand could stay limited 1.
What to watch
- Completion of equipment acceptance testing for the continuous manufacturing lineQ3 2026
- Operational startup and validation of the continuous manufacturing lineQ4 2026
- Outcome of the joint evaluation agreement with Samsung SDI, whose initial phase expiresQ3 2026
- Negotiation of the new SK On collaboration agreement and any South Korea commercial partnership2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (03 Nov 2026 · results).
The business
Solid Power, Inc. is a U.S. company developing solid-state battery technology, whose core product is a sulfide-based solid electrolyte that replaces the liquid or gel electrolyte in traditional lithium-ion cells 1. Its business model involves manufacturing and selling electrolyte to Tier 1 battery makers and to automakers that produce their own cells, along with licensing its cell designs and processes, as it does not plan to become a commercial cell manufacturer 1. Cumulative revenue from research and development, government contracts and licensing remains small, and the company describes itself as a research and development business without commercial operations 12.
Segments
Sulfide-based solid electrolyte
The main segment is the sale of sulfide electrolyte to partners such as Samsung SDI, SK On and BMW, including through sampling and supply arrangements 1. The company operates batch pilot lines and is building a continuous line with an annual capacity of up to 75 metric tons 1.
Cell technology licensing and development
A second revenue stream comes from licensing cell technology and development agreements, such as the R&D license with SK On and the line installation agreement, whose milestone was completed in April 2026 123. Revenue from this segment has fluctuated and included a negative revenue adjustment in the second quarter of 2026 3.
Market context
The target market is battery electric vehicles, and the company says Tier 1 battery makers and automakers are converging on sulfide-based architectures 1. A commercial market for sulfide-based solid electrolytes has not yet matured, and demand depends on the success of solid-state cells and on adoption of electric vehicles 1.
Trends
- Adoption of sulfide architecturetailwind
The company says battery makers are converging on sulfide electrolytes as the preferred architecture for solid-state batteries, which could open commercial demand for Solid Power's electrolyte 1.
- Development delaysheadwind
The pace of battery development is hard to predict, and technical and production targets could be postponed, which could delay commercial revenue 12.
- Dependence on electric vehicle adoptionmixed
Demand for the company's products depends heavily on electric vehicle adoption, and the evolution of technologies and government policy remains uncertain 12.
- Competition from Chinaheadwind
Competition from Chinese producers and alternative electric vehicle technologies is cited as a factor that could affect the commercial potential of the technology 1.
Competitive position
Solid Power competes with other solid-state battery developers and with commercial cell makers, many of which are better capitalized or have stronger relationships with suppliers and customers 1. The company argues that its model of not becoming a cell maker and supporting its partners differentiates it from competitors who intend to build commercial batteries 13.
- Samsung SDI
Partner in the joint evaluation agreement, which uses the company's electrolyte to make separators and cells; also a potential competitor in solid-state battery production 12.
- SK On
Partner with an R&D license and electrolyte supply agreement, but also a battery maker that could develop its own solid-state cells 13.
- Chinese battery makers
Cited in the company's risk factors as a source of increased competition in the electric vehicle battery sector 1.
- Other solid electrolyte developers
Companies selling sulfide electrolytes without their own cell competencies are considered direct competitors in the electrolyte segment 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Solid Power’s (SLDP) Widening Losses Come With A Liquidity CushionYahoo Finance — News · 11 Sept 2026 · EN
The latest news item in our archive is from 11 Sept 2026; the newest SEC filing is from 03 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report14 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report02 Jul 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report12 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report21 May 2026Shareholder vote
- Current report07 May 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 May 2026
- Current report05 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Solid Power, Inc. · 25 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Solid Power, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Solid Power, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.