What's Going On With Solid Power Shares Friday?
Portfolio Pulse from Dylan Berman
Solid Power, Inc. (NASDAQ:SLDP) shares are trading higher after being selected by the U.S. Department of Energy for negotiations on up to $50 million in federal funding. This funding will support the development of a continuous manufacturing process for sulfide-based solid electrolyte materials, crucial for advanced all-solid-state batteries. Solid Power aims to increase its production capacity significantly by 2028.
September 20, 2024 | 5:10 pm
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Solid Power's stock surged after being chosen for up to $50M in federal funding to develop a continuous manufacturing process for sulfide-based solid electrolytes, enhancing its production capacity and positioning it as a leader in battery technology.
The selection for federal funding is a significant endorsement of Solid Power's technology and potential market leadership in advanced battery materials. The funding will enable the company to scale up production, meeting anticipated demand and potentially increasing revenue. This positive development is likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100