SLDP - Solid Power to receive up to $5.6M from DoE for battery cell development

Solid Power ( NASDAQ: SLDP ) +2.9% pre-market Thursday after saying it will receive an award from the U.S. Department of Energy to continue its development of nickel- and cobalt-free solid-state battery cells.

Solid Power ( SLDP ) expects to receive up to $5.6M to develop battery cells containing a lithium metal anode and sulfur composite cathode to enable improved energy and charging performance.

The DoE recently announced $42M in funding, including Solid Power's ( SLDP ) award, for 12 projects to strengthen the domestic supply chain for advanced batteries that power electric vehicles.

Investors looking to gain exposure to the race to develop solid-state batteries for EVs have two pure-play options, QuantumScape ( QS ) and Solid Power ( SLDP ), Leo Imasuen writes in an analysis posted recently on Seeking Alpha .

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