Colorado company receives $50 million to boost clean battery production

(The Center Square) - A Colorado business that creates materials used in electric vehicle batteries received $50 million from the federal government.

Solid Power in Thornton got $50 million from a program managed by the U.S. Department of Energy's Office of Manufacturing and Energy Supply Chains.

“Congratulations to Solid Power on this major investment that will continue driving Colorado’s leadership in electric vehicles," Governor Jared Polis said in a statement. "The strong partnership of the Biden-Harris administration is helping Colorado lead the way in providing low-cost, zero-emission tech, saving people money and improving air quality."

Colorado is among the states where EVs are most popular; over 22% of new cars sold there are now electric, a release said.

“Electric vehicles are becoming more popular nationwide, and innovative new technologies continue to make these vehicles better and better,” Colorado Energy Office Executive Director Will Toor said. “As EV adoption soars in Colorado, we are pleased to see Colorado businesses play such an important role in electrifying the transportation system, and we thank the Department of Energy for their continued investment in Colorado.”

Solid Power creates the sulfide-based solid electrolytes that help manufacture all-solid-state batteries, the release said. These batteries power electric vehicles cheaper and more efficiently than lithium-ion batteries, the state claims.

Solid Power will use the grant to boost its production in Thornton and cut costs with an "efficient, continuous manufacturing process," the release said.

This was one of 25 projects across 14 states to recently obtain over $3 billion in funding, according to the DOE.

“We’re in the midst of a manufacturing revival in the United States as the Biden-Harris Administration’s Investing in America agenda continues to breathe new life into communities and local economies across the country,” U.S. Secretary of Energy Jennifer M. Granholm said. “By positioning the U.S. at the forefront of advanced battery manufacturing, we are creating high-paying jobs and strengthening our global economic leadership and domestic energy security, all while supporting the clean energy transition.”

The selected programs include various battery forms, including lithium and non-lithium batteries, "to ensure that the U.S. has a diverse portfolio of domestic battery technologies that can strengthen our overall energy security," a DOE release said.