Samsung, Hyundai Investing In Solid-State Battery Producer

September 11, 2018 | NEWS BRIEF | Solid Power, a Colorado-based maker of solid-state battery cells for cars and aircraft, arranged $20 million in financing to complete a manufacturing facility. Investors in the Series A funding round include Sanoh Industrial and the venture capital units of Hyundai, Samsung, and Solvay, according to IndustryWeek. It comes about nine months after Solid Power announced a deal with BMW to develop solid-state batteries for electric vehicles. Solid Power is positioning its technology as a competitor to the lithium-ion batteries that have dominated the energy-storage industry. Advocates say alternative battery technologies may be safer and can pack more energy — key for electric-vehicle range — than lithium ion, but suppliers have struggled to transition from small-scale demonstrations to high-volume production.