Solid Power signs three new agreement with SK On

Solid Power announced it has deepened its partnership with SK On with three new agreements: a research and development license, a line installation arrangement, and an electrolyte supply agreement. Together, the agreements expand Solid Power’s presence in Korea and strengthen the existing relationship between Solid Power and SK On, a key cell manufacturing partner. The deepened relationship between the two companies will increase overall collaboration and development efforts on Solid Power’s solid-state cell technology. The agreements enable SK On to use Solid Power’s cell technology for research and development and to produce batteries on a new SK On solid-state line in Korea. Upon achievement of milestones and electrolyte deliveries, Solid Power expects to receive at least $50M in revenue from these combined agreements.