Solid Power, Inc. (NASDAQ:SLDP) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET
Company Participants
Melanie Solomon - Investor Relations
John Van Scoter - President & Chief Executive Officer
Linda Heller - Chief Financial Officer
Conference Call Participants
Mike Shlisky - D.A. Davidson
Operator
Good day, everyone, and welcome to today's Solid Power, Inc. Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please note this call may be recorded. I will be standing by should you need any assistance.
It is now my pleasure to turn the conference over to Melanie Solomon, Investor Relations.
Melanie Solomon
Thank you, operator. Welcome, everyone, and thank you for joining us today. I'm joined on today's call by Solid Power's President and Chief Executive Officer, John Van Scoter; and Chief Financial Officer, Linda Heller. A copy of today's earnings release is available on the Investor Relations section of Solid Power's website www.solidpowerbattery.com.
I'd like to remind you that parts of our discussion today will include forward-looking statements as defined by US 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 in 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 www.solidpowerbattery.com.
With that, let me turn it over to John Van Scoter.
John Van Scoter
Thank you, Melanie, and thank you all for joining us. We accomplished a lot in the third quarter and I'm excited to share our progress with you today. A major highlight of the quarter was the US Department of Energy's announcement that we were selected to negotiate a $50 million grant for a project focused on continuous production of sulfide-based solid electrolyte materials for advanced all solid-state batteries or ASSBs. The process was highly competitive and we view our selection as a validation of our technology and business model. We thank the DOE for its faith in Solid Power.
Wide adoption of EVs in the United States will require continued advancement of battery technologies, including the materials that support that advancement. We believe our sulfide cell and electrolyte can offer a step function increase in battery performance compared to conventional lithium-ion. While performance is critical so is the ability to efficiently manufacture and process our product.