Solid Power beats revenue forecast for Q2

LOUISVILLE — Solid Power Inc. (Nasdaq: SLDP), a Louisville-based developer of solid-state battery technology, reported higher-than-expected revenue for the second quarter.

The company reported revenue of $7.5 million — higher than the $5 million forecast — compared with $5 million recorded in the second quarter of 2024. Net loss for the company totaled $25.34 million, up from $22.27 million a year ago.

Year-to-date losses total $40.49 million, compared with $43.48 million in the first half of 2024.

“We are pleased with our progress on our 2025 operational goals, and we are energized by continued customer demand for our electrolyte,” John Van Scoter, president and CEO of Solid Power, said in a written statement. “As we look to the balance of the year, we remain committed to achieving our objectives for the year and positioning the company to deliver long-term shareholder value.”

Among the Q2 highlights the company reported in a news release:

• BMW introduced its i7 test vehicle powered by Solid Power cells and solid-state battery technology.
• Solid Power completed factory acceptance testing for Korean battery manufacturer SK On Co. Ltd. pilot cell line and began working towards site acceptance testing, which the company said remains on target for later this year.
• Solid Power is proceeding with detailed design work for the planned installation of its continuous electrolyte production pilot line and finished ordering long-lead equipment. The company said commissioning remains on track for 2026.
• The company has seen continued demand for multiple generations of electrolyte from both existing and new customers with active sampling to key strategic customers.

Solid Power’s stock closed Friday at $3.90, down 12.95% from the previous day’s close of $4.48.

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