Solid Power
- 🦄Became a unicorn2021
- 📈Peak valuation$2.7 Billion ’21
- 💔Became a Unitard~2022
- 💸Last valuation~$594M
How it happened
Solid Power is a Colorado developer of solid-state lithium-metal EV batteries, a technology promising greater range and safety than conventional lithium-ion cells, and it counts Ford, BMW, Hyundai and Samsung among its strategic backers. It went public through a SPAC merger in December 2021 at roughly a $1.2B valuation, and its shares briefly pushed its market value above $2.5B amid the EV-battery hype. But solid-state batteries proved hard to commercialize, mass production remained years away, and as EV demand and the broader battery bubble cooled its market capitalization slid to around $590M, well below the $1B unicorn mark.
Source: SEC filings / company financials (solid-state EV battery developer backed by Ford, BMW, Hyundai, Samsung and Volta Energy Technologies; went public via a SPAC merger in Dec 2021 at a ~$1.2B valuation and peaked above $2.5B in early 2022; with mass production still years out and EV-demand and solid-state timelines slipping, its market capitalization has fallen to roughly $590M)
