SLDP - Solid Power stock rises on expanded BMW R&D deal

• Solid Power ( NASDAQ: SLDP ) shares gained +8% premarket on Wednesday after the battery cell developer expanded its joint development agreement with BMW Group.
• The expanded deal will see Solid Power grant BMW an R&D license to its all-solid-state cell design and manufacturing know-how.
• The broadened relationship will support expanded complementary cell development and manufacturing activities at both companies.
• BMW will duplicate Solid Power’s pilot production lines at its own German facility and produce prototype cells based on Solid Power’s proprietary technology. The automaker will also work with Solid Power to optimize cell manufacturing processes.
• BMW will pay Solid Power $20M through June 2024 as part of the agreement, subject to milestones. Solid Power is also expected to supply its electrolyte material to BMW for prototype cell production once the latter's pilot production lines are set up.

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