Ford, BMW lead Solid Power’s $130M Series B round – TechCrunch
Ford Motor Company and BMW Group have put their money on battery technology company Solid Power. Under the investment, Ford and BMW are equal equity owners, and company representatives will join Solid Power’s board. Solid Power received additional investment in the round from Volta Energy Technologies, the venture capital firm spun out of the U.S. Department of Energy’s Argonne National Laboratory. “Hundreds” of 2 Ah battery cells were validated by Ford and BMW late last year, Solid Power said in a statement. Unlike Solid Power’s manufacturing, traditional lithium-ion batteries must undergo electrolyte filling and cycling in their production processes.