Bloomberg recently reported that Solid Power Inc., a Colorado-based developer of next-generation solid-state batteries, has completed a $20 million deal with Samsung Venture, Hyundai and others.
The deal comes less than a year after Solid Power struck a partnership with the BMW Group and will help the company complete a manufacturing facility in time to start operating in 2019, according to the Bloomberg report.
The technology behind the company originated in the CU Boulder mechanical engineering labs of Conrad Stoldt and Sehee Lee, and was exclusively licensed through the Technology Transfer Office (TTO). The university continues to hold equity in the company.
”Solid Power has done a wonderful job in building value in a short period of time,” TTO Director Bryn Rees noted. “Prior to this Series A investment, the company leveraged extensive non-dilutive sources of capital and made good use of local resources like the Advanced Industries Accelerator and Innosphere. We are very excited for the company and its founders.”