Solid Power reports Q3 EPS (8c), consensus (13c)

Reports Q3 revenue $6.37M , consensus $4.36M…Made first A-1 EV cell deliveries to BMW to formally enter automotive qualification;Ongoing BMW demo car program deliveries on track;Ramping up SP2 electrolyte volume for EV cells and phased out SP1 production…”It is a reflection of our team’s strong execution that we produced and delivered our first A Sample EV cells for BMW a little over a week ago, marking a major milestone for Solid Power,” said John Van Scoter, President and Chief Executive Officer of Solid Power. “We are very excited to make these deliveries, begin the formal automotive qualification process, and continue on our path towards commercialization. These A-1 EV cells will also support BMW’s demo car program, which we expect will also be a major proof point for our technology.” “On the electrolyte side, we are producing electrolyte at SP2 in greater volumes and have phased out our SP1 powder production. This puts us solidly on track to continue to increase production and demonstrate our ability to manufacture at scale for potential partners,” Van Scoter said. “As we look ahead, we believe we are well-positioned to achieve our key objectives and drive strategic growth,” Van Scoter continued. “We are operating with competitive urgency as we seek to further our leadership position in the market and deliver long-term value for our partners, employees, and shareholders.”