Solid Power, Inc. (NASDAQ:SLDP) Q3 2023 Earnings Conference Call November 7, 2023 4:30 PM ET

Company Participants

Jennifer Almquist – Investor Relations

John Van Scoter – President and Chief Executive Officer

Kevin Paprzycki – Chief Financial Officer

Conference Call Participants

Mike Shlisky – D.A. Davidson

Vincent Anderson – Stifel

Jeffrey Campbell – Seaport Research Partners

Brian Dobson – Chardan Capital

Operator

Greetings. Welcome to Solid Power, Inc. Third Quarter 2023 Financial Results and Business Update Call. Please note that this event is being recorded.

I’ll now turn the conference over to your host, Jennifer Almquist, Investor Relations for Solid Power, Inc. Thank you. You may begin.

Jennifer Almquist

Thank you, operator, and thank you, everyone, for joining us today. I’m joined on the call today by Solid Power’s President and Chief Executive Officer, John Van Scoter; and Chief Financial Officer, Kevin Paprzycki. A copy of today’s earnings release is available on the Investor Relations section of Solid Power’s website at ir.solidpowerbattery.com.

I’d like to remind you that parts of our discussion today will include forward-looking statements as defined by U.S. Securities Laws. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.

Except as otherwise required by applicable law, Solid Power disclaims any duty to update any forward-looking statements to reflect future events or circumstances. For a discussion of the risks and uncertainties that could cause actual results to differ materially from those expressed on today’s forward-looking statements, please see Solid Power’s most recent filings with the Securities and Exchange Commission, which can be found on the company’s website at ir.solidpowerbattery.com.

With that, let me turn it over to John Van Scoter.

John Van Scoter

Thank you, Jen, and good afternoon, everyone. Thank you for joining the call today. I’ll begin today with an important milestone, our A Sample EV cell shipments and entrance into automotive qualification. I’ll then provide an update on our solid overall progress and give early thoughts on 2024 priorities and goals. After that, I’ll hand the call off to Kevin for the financial review and we’ll open up Q&A.

Over the last week or so, we shipped more than 80 of our EV cells to BMW to officially begin the automotive qualification process. This is no small achievement. A year ago, we were struggling with yield issues on our 20-amp hour cells as we initially scaled up our roll-to-roll line production. Since then, the team has overcome those obstacles and more, including a few significant supply chain and vendor quality issues on both the cell and powder production side. We’ve done this while completing SP2 construction, initiating powder production and incorporating our new SP2 powder into cells. I want to extend my gratitude to the team and reiterate my appreciation for the strong team I’ve inherited.