Solid Power enters three agreements with SK On valued at at least $50M

Solid Power, Inc.

R&D license grants SK On rights to solid-state cell designs for $20M in milestone payments (2024-2027).
Line installation agreement: Solid Power to design and install pilot line at SK On Korea facility for ~$22M; completion expected 2025.
Electrolyte supply agreement: SK On commits to purchase at least 8 metric tons through 2030, generating at least $10M revenue.
Combined expected revenue from all agreements is at least $50M, strengthening cash position.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Solid Power, Inc. entered into Electrolyte Supply Agreement with SK On Co., Ltd. valued at $10 million (effective 2024-01-10).

Action: entry
Agreement: supply
Counterparty: SK On Co., Ltd.
Value: $10 million
Effective: 2024-01-10

Exact text from the filing

On January 10, 2024, Solid Power Operating, Inc. (“ SP Operating ”), a wholly owned subsidiary of Solid Power, Inc. (the “ Company ,” “ Solid Power ,” “ we ,” or “ our ”), and SK On Co., Ltd. (“ SK On ”) entered into a Research and Development Technology License Agreement (the “ R&D License Agreement ”) and Electrolyte Supply Agreement (the “ Electrolyte Supply Agreement ”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Solid Power, Inc. entered into Research and Development Technology License Agreement with SK On Co., Ltd. valued at $20 million (effective 2024-01-10).

Action: entry
Agreement: license
Counterparty: SK On Co., Ltd.
Value: $20 million
Effective: 2024-01-10

Exact text from the filing

On January 10, 2024, Solid Power Operating, Inc. (“ SP Operating ”), a wholly owned subsidiary of Solid Power, Inc. (the “ Company ,” “ Solid Power ,” “ we ,” or “ our ”), and SK On Co., Ltd. (“ SK On ”) entered into a Research and Development Technology License Agreement (the “ R&D License Agreement ”) and Electrolyte Supply Agreement (the “ Electrolyte Supply Agreement ”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Solid Power, Inc. entered into Line Installation Agreement with SK On Co., Ltd. valued at approximately $22.3 million (effective 2024-01-10).

Action: entry
Counterparty: SK On Co., Ltd.
Value: approximately $22.3 million
Effective: 2024-01-10

Exact text from the filing

On January 10, 2024, Solid Power Korea Co., Ltd. (“ SP Korea ”), a wholly owned subsidiary of the Company, SK On, and, for the limited purposes of Section 12.16 of the Line Installation Agreement, the Company entered into a Line Installation Agreement (the “ Line Installation Agreement ”).

View on SEC.gov

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Solid Power, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-004160

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