Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 1.0
Solid Power, Inc. amended Amendment No. 4 with BMW of North America, LLC (together with its affiliates, “BMW”) valued at $20 million between December 2022 and June 2024 (effective 2022-12-20).
- Action
- amendment
- Agreement
- collaboration
- Counterparty
- BMW of North America, LLC (together with its affiliates, “BMW”)
- Value
- $20 million between December 2022 and June 2024
- Effective
- 2022-12-20
Exact text from the filing
On December 20, 2022, Solid Power Operating, Inc., a wholly owned subsidiary of Solid Power, Inc. (collectively, the “ Company ”), and BMW of North America, LLC (together with its affiliates, “ BMW ”) entered into Amendment No. 4 (“ Amendment No. 4 ”) to the Joint Development Agreement, dated July 1, 2017. Pursuant to the terms of Amendment No. 4, the Company granted BMW a research and development-only license to certain of the Company’s intellectual property relating to all-solid-state battery cell manufacturing (the “ R&D License ”). The R&D License allows, among other things, BMW to install a solid state prototype cell manufacturing line based upon Solid Power’s proprietary information. The R&D License is limited to BMW’s research and development activities and may not be used for commercial battery cell production. In consideration of the R&D License and additional development activities contemplated by Amendment No. 4, BMW will pay the Company $20 million between December 2022 and
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