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SLDP on Nasdaq

Solid Power

Solid Power is an American company making solid-state rechargeable batteries based in Louisville, founded in 2012.1 Its shares trade on Nasdaq under the symbol SLDP.1

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Last updated Oct 21, 2026.

Overview

2012Founded1

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  • TickerSLDP on Nasdaq1
  • IndustryMiscellaneous Electrical Machinery, Equipment & Supplies1
  • HeadquartersLouisville1
  • Websitewww.solidpowerbattery.com
  • Incorporated inDE4
  • Business address486 S. Pierce Ave., Suite E, Louisville, Co 800274
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation3
  • LEI5299001ZPFRA2QBIQK793
  • StatusActive3
  • LEI statusIssued and current3
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States3
  • Registered withDivision of Corporations, Department of State, 49216663

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Solid Power is a U.S.-based leader in solid-state battery technology and manufacturing processes. Our core technology is a sulfide-based solid electrolyte material, which replaces the liquid or gel electrolyte used in traditional lithium-ion battery cells. We believe our electrolyte technology has the potential to enable a step-change improvement in battery cell performance beyond what is currently achievable in conventional lithium-ion battery cells, including improved energy density, battery life, and safety performance. We are currently targeting the battery electric vehicle (“EV”) market due to the size and perceived demand for next generation battery technology but believe our technologies can have a broader application as the technologies mature.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-562.9%Operating margin6
-521.5%Net margin6
-11.1%Revenue growth, 20256
-22.5%Return on equity6
-$83.6MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Non-Government Contract brought in 88% of the revenue Solid Power broke down this way in fiscal 2025.

  1. Non-Government Contract$15.8M688%down 9% from 2024
  2. Government Contract$2.1M612%down 22% from 2024
Products and services by year
Products and services20242025
Non-Government Contract$17.4M$15.8M
Government Contract$2.7M$2.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development71¢$72.5M
  • Selling, general and admin29¢$29.4M
  • Income tax0¢$8.0K

Out of $17.9M in revenue.6 The company lost money this year.

Financial statements

Revenue7896$17.9M in 2025+752% since 2020
0$10.0M$20.0M$30.0M2020: $2.1M$2.1M20202021: $2.7M$2.7M2021+29%2022: $11.8M$11.8M2022+335%2023: $17.4M$17.4M2023+48%2024: $20.1M$20.1M2024+16%2025: $17.9M$17.9M2025−11%
Operating income7896-$100.8M in 2025+770% since 2020
-$150.0M-$100.0M-$50.0M02020: -$11.6M-$11.6M20202021: -$26.5M-$26.5M2021+129%2022: -$59.1M-$59.1M2022+123%2023: -$90.6M-$90.6M2023+53%2024: -$105.3M-$105.3M2024+16%2025: -$100.8M-$100.8M2025−4%
Net income7896-$93.4M in 2025+550% since 2020
-$100.0M-$50.0M0$50.0M2020: -$14.4M-$14.4M20202021: $18.1M$18.1M20212022: -$9.6M-$9.6M20222023: -$65.5M-$65.5M2023+586%2024: -$96.5M-$96.5M2024+47%2025: -$93.4M-$93.4M2025−3%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Revenue$17.9M$20.1M
Grant income$3.8M
Total revenue and grant income$21.7M$20.1M
Direct costs$20.6M$20.3M
Research and development$72.5M$73.3M
Selling, general and administrative$29.4M$31.8M
Total operating expenses$122.6M$125.5M
Operating Loss-$100.8M-$105.3M
Interest income$13.2M$17.7M
Change in fair value of warrant liabilities-$5.1M-$4.5M
Interest expense-$25.0K-$46.0K
Other expense-$684.0K-$3.0M
Total nonoperating income and expense$7.3M$10.1M
Income (loss) before income tax expense (benefit)-$93.5M-$95.2M
Income tax expense (benefit)-$8.0K$1.2M
Share of net loss (income) of equity method investee-$65.0K$133.0K
Net Loss Attributable to Common Stockholders-$93.4M-$96.5M
Other Comprehensive Income$315.0K$598.0K
Comprehensive Loss Attributable to Common Stockholders-$93.1M-$95.9M
Basic loss per share-$0.51-$0.54
Diluted loss per share-$0.51-$0.54
Weighted average shares outstanding - Basic184.9M shares179.4M shares
Weighted average shares outstanding - Diluted184.9M shares179.4M shares

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Corporate structure

Solid Power sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Solid Power

  • Solid Power Wilmington, Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Solid Power reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Construction in progress$6.9M6 Dec 31, 2025$5.1M6 Dec 31, 2024+33.4%
Property and equipment, before depreciation$143.4M6 Dec 31, 2025$136.9M6 Dec 31, 2024+4.8%
Accumulated depreciation$57.1M6 Dec 31, 2025$39.7M6 Dec 31, 2024+43.8%
Property and equipment, net$86.3M6 Dec 31, 2025$97.2M6 Dec 31, 2024−11.2%
Finance-lease assets$856.0K9 Dec 31, 2024$1.1M9 Dec 31, 2023−21.3%
Operating-lease assets (leased space)$6.7M6 Dec 31, 2025$7.5M6 Dec 31, 2024−10.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$21.6M6 Dec 31, 2025$25.4M6 Dec 31, 2024−15.0%
Marketable securities, current$229.2M6 Dec 31, 2025$92.8M6 Dec 31, 2024+147.0%
Long-term investments$87.0M6 Dec 31, 2025$210.4M6 Dec 31, 2024−58.7%
Loans, net of allowance$4.4M6 Dec 31, 2025$4.3M6 Dec 31, 2024+3.1%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$2.2M6 Dec 31, 2025$2.1M6 Dec 31, 2024+4.5%
Finite-lived intangibles, gross$2.3M6 Dec 31, 2025$2.2M6 Dec 31, 2024+5.4%
Accumulated amortization-$103.0K6 Dec 31, 2025-$81.0K6 Dec 31, 2024−27.2%

Properties, in its own words

We currently operate out of two facilities in Colorado. We lease approximately 38,000 square feet in Louisville, Colorado under a lease that expires in December 2029. Most of this facility, which we refer to as SP1, is used for cell production, research and development, quality control, and general office space.

We lease approximately 75,000 square feet in Thornton, Colorado under a lease that expires in March 2029. Most of this facility, which we refer to as SP2, is used for pilot production of electrolyte, research and development, quality control, and general office space.

The rest of Item 2

In addition, we lease general office space in the Republic of Korea that is immaterial to our financial statements.

Item 2 of the 10-K filed Feb 25, 2026.5

Leadership

Who has led Solid Power, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Erik J. Anderson2021
  2. Douglas M. Campbell2021–2022
  3. David B. Jansen2023
  4. John C. Vanscoter2023–now

President

  1. David B. Jansen2021–2023
  2. John C. Vanscoter2023–now

Chief financial officer

  1. Linda C. Heller2024–now
201520202025
Board members and other officers (24)

Products and brands

  • battery

Listed on Wikidata.1

Former names

  • Decarbonization Plus Acquisition Corp IIIFeb 12, 2021 to Dec 8, 20214

Timeline

  1. Sep 14, 20268-K Regulation FD disclosure38
  2. Aug 4, 20268-K Results of operations39
  3. Jul 2, 20268-K Executive or director change; Regulation FD disclosure40
  4. Jun 12, 20268-K Regulation FD disclosure41
  5. May 21, 20268-K Shareholder vote42
  6. May 7, 20268-K Regulation FD disclosure43
  7. May 5, 20268-K Results of operations44
  8. Apr 24, 20268-K Executive or director change45
  9. Mar 6, 20268-K Entered a material agreement; Regulation FD disclosure46
  10. Feb 24, 20268-K Results of operations47
  11. Jan 29, 20268-K Other events48
  12. Nov 21, 20258-K Executive or director change49
  13. Jun 14, 2023New chief executive John C. Vanscoter becomes CEO14
  14. Mar 3, 2023New chief executive David B. Jansen becomes CEO13
  15. Dec 8, 2021New chief executive Douglas M. Campbell becomes CEO16
  16. Mar 23, 2021New chief executive Erik J. Anderson becomes CEO15
  17. 2012Founded Founded1

Calendar

Coming up

  1. Nov 3, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.14) a share, on Nov 4, 2025.50

When it reported results

  1. Aug 4, 2026Reported quarterly or annual results39
  2. May 5, 2026Reported quarterly or annual results44
  3. Feb 24, 2026Reported quarterly or annual results47
  4. Nov 4, 2025Reported quarterly or annual results51
  5. Aug 6, 2025Reported quarterly or annual results52
  6. May 6, 2025Reported quarterly or annual results53
  7. Feb 27, 2025Reported quarterly or annual results54
  8. Nov 7, 2024Reported quarterly or annual results55

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

426 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 75 major events, 207 insider forms, 28 large holders, 95 other. The latest 20:

  1. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  2. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  3. Oct 1, 20264 PRIMARY DOCUMENT EDGAR
  4. Sep 14, 20268-K EDGAR
  5. Aug 14, 2026SCHEDULE 13G/A EDGAR
  6. Aug 5, 202610-Q EDGAR
  7. Aug 4, 20268-K EDGAR
  8. Jul 30, 2026SCHEDULE 13G/A EDGAR
  9. Jul 6, 20263 PRIMARY DOCUMENT EDGAR
  10. Jul 2, 20268-K EDGAR
  11. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  12. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  13. Jul 1, 20264 PRIMARY DOCUMENT EDGAR
  14. Jun 12, 20268-K EDGAR
  15. Jun 8, 2026SCHEDULE 13D/A EDGAR
  16. May 21, 20264/A PRIMARY DOCUMENT EDGAR
  17. May 21, 20264 PRIMARY DOCUMENT EDGAR
  18. May 21, 20264 PRIMARY DOCUMENT EDGAR
  19. May 21, 20264 PRIMARY DOCUMENT EDGAR
  20. May 21, 20264 PRIMARY DOCUMENT EDGAR

The 426 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

42 open-market trades by officers, directors and large owners since October 2021: 5 buys and 37 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 20, 2026Roe Lesa BDirectorSale39,207$2.66$104.3KForm 4
Dec 4, 2025ANDERSON ERIK JDirectorSale30,000$5.20$156.0KForm 4
May 29, 2025Roe Lesa BDirectorSale29,000$1.69$49.0KForm 4
May 27, 2025Goldberg Steven HDirectorSale82,365$1.62$133.4KForm 4
Mar 6, 2025Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.13$211.9KForm 4
Feb 10, 2025Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.31$245.6KForm 4
Jan 6, 2025Buettner-Garrett JoshuaChief Technology OfficerSale187,500$2.09$391.9KForm 4
Dec 16, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.07$200.6KForm 4
Nov 12, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.07$200.6KForm 4
Oct 7, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.26$236.2KForm 4
Oct 1, 2024ANDERSON ERIK JDirectorSale506,283$1.27$643.0KForm 4
Sep 10, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.21$226.9KForm 4
Aug 29, 2024Goldberg Steven HDirectorSale59,197$1.45$85.8KForm 4
Aug 19, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.42$266.2KForm 4
Aug 9, 2024Roe Lesa BDirectorSale27,900$1.35$37.7KForm 4
Jul 9, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.66$311.2KForm 4
Jun 14, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.66$311.2KForm 4
May 21, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.68$315.0KForm 4
Apr 3, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.86$348.8KForm 4
Mar 18, 2024Buettner-Garrett JoshuaChief Technology OfficerSale187,500$1.36$255.0KForm 4

All 42 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025John Van ScoterPresident and Chief Executive Officer$551.1K$4.7M68
2025Linda HellerChief Financial Officer, Treasurer, and Secretary$453.1K$2.2M68
2025Joshua Buettner-GarrettChief Technology Officer$394.2K$1.3M68
2024Linda HellerChief Financial Officer, Treasurer, and Secretary$215.0K$3.4M68
2024John Van ScoterPresident and Chief Executive Officer$538.0K$2.9M68

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$1.9M 2020–2021
Money received by yearMoney received by year, 2020–2021: $1.9M in all. PPP loans $1.9M.$0$250K$500K$750K$1M2020 · PPP loans: $922.8K20202021 · PPP loans: $956.1K2021
Figures by year
YearPPP loansTotal
2021$956.1K$956.1K
2020$922.8K$922.8K

PPP loans

Paycheck Protection Program loans of $150,000 and up, approved April 2020 to July 2021, from the SBA69. Matched to this company by name and state.

  1. Apr 27, 2020$922.8K PPP loan (first draw) from Silicon Valley Bridge Bank NA69To SOLID POWER, INC., Louisville CO; $927.5K forgiven Nov 3, 2020
  2. Jan 25, 2021$956.1K PPP loan (second draw) from Silicon Valley Bridge Bank NA69To SOLID POWER INC., Louisville CO; no forgiveness recorded

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.17,122,172$44.3M0.0%+3,379,567
Vanguard Capital Management LLC8,434,156$21.8M0.0%+115,373
State Street Corp5,787,916$15.0M0.0%+1,544,134
Geode Capital Management, LLC5,159,452$13.4M0.0%+599,886
Riverstone Holdings LLC4,651,964$12.0M38.9%−43,085
Dimensional Fund Advisors LP3,157,809$8.2M0.0%−460,710
D. E. Shaw & Co., Inc.2,992,009$7.7M0.0%−2,623,448
Invesco Ltd.2,871,345$7.4M0.0%+438,772
Citadel Advisors LLC2,611,214$6.8M0.0%+972,539
Vanguard Portfolio Management LLC2,291,213$5.9M0.0%+150,984
Bank Of America Corp /de/1,946,803$5.0M0.0%−1,270,753
Northern Trust Corp1,733,245$4.5M0.0%+262,518
Charles Schwab Investment Management Inc1,649,314$4.3M0.0%+116,219
Goldman Sachs Group Inc1,597,650$4.1M0.0%−2,965,984
UBS Group AG1,520,468$3.9M0.0%+805,897
Vanguard Fiduciary Trust Co1,343,382$3.5M0.0%+138,975
Barclays PLC1,076,204$2.8M0.0%+612,612
Morgan Stanley1,054,313$2.7M0.0%−676,101
Citigroup Inc1,003,000$2.6M0.0%+790,794
Healthcare Of Ontario Pension Plan Trust Fund587,288$1.5M0.0%−668,700
Bank of New York Mellon Corp544,976$1.4M0.0%+94,110
Nuveen, LLC522,587$1.4M0.0%+57,985
Point72 Asset Management, L.P.497,280$1.3M0.0%−77,145
Voleon Capital Management LP494,095$1.3M0.0%+3,970
FourWorld Capital Management LLC477,129$1.2M1.4%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Solid Power is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSolid Power, Inc.2
  • CIK0001844862
  • Employer ID (EIN)86-18880955
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 312
  • Industry code (SIC)3690 Miscellaneous Electrical Machinery, Equipment & Supplies2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business address486 S. Pierce Ave., Suite E, Louisville, CO 800272
  • Phone(303) 219-07202
  • Shares outstanding228,181,212 as of Aug 3, 202611
  • Public float$367.6M as of Jun 30, 20255
  • AuditorDeloitte & Touche LLP, Denver, CO PCAOB ID 34; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceFeb 12, 20212
  • Filings475 in all: 4 (188), 8-K (81), 3 (29), 144 (28), 424B3 (20), 425 (18), 10-Q (17), CORRESP (9)2
    All 38 form types

    SC 13G (8), SC 13D/A (6), 10-K (5), DEF 14A (5), DEFA14A (5), EFFECT (5), S-8 (4), SC 13D (4), SC 13G/A (4), SCHEDULE 13G/A (4), UPLOAD (4), ARS (3), S-4/A (3), SCHEDULE 13D/A (3), 424B5 (2), POS AM (2), S-1 (2), S-1/A (2), SCHEDULE 13G (2), SEC STAFF LETTER (2), 10-Q/A (1), 25-NSE (1), 4/A (1), 424B4 (1), 8-A12B (1), CERT (1), NT 10-Q (1), POSASR (1), S-3ASR (1), S-4 (1)

  • Latest filingsAnnual report (10-K) Feb 25, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 9, 2026
    Latest 8-K (8-K) Sep 14, 2026

Securities registered for trading

ClassSymbolExchange
Common stock, par value $0.0001 per shareSLDPNasdaq
Warrants, each whole warrant exercisablefor one share of common stock at anSLDPWNasdaq

From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Solid Power names in Item 1A of its 10-K filed Feb 25, 2026: 54 risks under these headings, as written.5

  • Risks Related to Development and Commercialization
  • The pace of battery technology development is not predictable. Delays or failures in accomplishing development objectives may postpone or prevent us from generating revenues from the sale of electrolyte or licensing of our cell technology. Expectations for when we will achieve various technical and production-level performance objectives depend in large part upon assumptions, estimates, measurements, testing, analyses, and data developed and performed by us, which may be incorrect or flawed.
  • We may not successfully develop our electrolyte for commercialization or attract customers. There is currently no commercial market for sulfide-based solid electrolytes and one may never emerge. Even if sulfide-based solid electrolytes are commercially adopted, we may not be able to effectively compete in any market.
  • It will be challenging to develop sulfide-based solid electrolyte capable of production at volume and with acceptable performance, yields, and costs.
  • We have not reached agreement with our partners on economic terms for the commercial sale of electrolyte or licensing of our cell technology. As a result, our projections of revenue and other financial results are uncertain.
  • We may not successfully commercially license our cell technology to OEMs or cell manufacturers or generate material revenue from our cell technology.
  • We have only conducted preliminary safety testing on our cells. Any cells using our technology will require additional and extensive safety testing prior to being installed in EVs.
  • If we are unable to attract and retain key employees and qualified personnel, our ability to compete could be harmed.
  • The non-exclusive nature of our agreements exposes us to the risk that our partners may elect to pursue other battery cell technologies or partners.
  • We have a limited number of joint development and other agreements relating to our technology. We cannot control the pace and timing of our partners’ efforts under these programs or the timing of potential commercialization of our technology, and our inability to enter into development relationships with additional partners may impair our ability to control the timing of our development activities, sell our electrolyte, or generate licensing revenue.
  • If we fail to meet certain milestones or requirements under certain of our agreements within the required time frames or extend or modify the terms of these agreements, our partners may terminate the agreements and discontinue their partnership with us.
  • Our business depends on our ability to manage our relationships with existing and future partners, customers, suppliers, and contractors, and we may not successfully manage these business relationships.
The other 43 risks
  • The terms of certain agreements permit our partners to share in the intellectual property developed through the research and development efforts under their respective agreements. In certain circumstances, our ability to share developments gained through the course of performance of a particular agreement with our other partners may be limited, and our partners may be able to exploit certain of the intellectual property developed under their respective agreements in ways that are detrimental to us.
  • We are subject to risks relating to the construction of facilities for our short-term research and development and long-term electrolyte production requirements.
  • Even if we successfully license our cell technology, we are subject to risks relating to production scale manufacturing of cells using our technology through partners in the long term.
  • We rely heavily on complex equipment for our operations, and the production of our technology involves a significant degree of risk and uncertainty in terms of operational performance and costs.
  • We rely on government contracts and grants for a portion of our revenue and to partially fund our research and development activities, and such contracts and grants are subject to a number of uncertainties, challenges, and risks.
  • Substantial increases in the prices for our raw materials and components, some of which are obtained from a limited number of sources where demand may exceed supply, could materially and adversely affect our business.
  • Accidents and severe weather conditions, natural disasters, or other catastrophic events could adversely impact our facilities and operations.
  • A global pandemic (e.g., COVID-19) and associated responses could disrupt our business and operations.
  • Risks Related to Industry and Market Trends
  • The battery market continues to evolve and is highly competitive, and we may not be successful in competing in this market or establishing and maintaining confidence in our long-term prospects among current and future partners and customers.
  • Our future growth and success are dependent upon consumers’ willingness to adopt EVs.
  • We may not be able to accurately estimate future demand for our technology, which could result in a variety of inefficiencies in our business, hinder our ability to generate revenue, and cause us to incur additional costs or experience delays.
  • Risks Related to Intellectual Property
  • We rely heavily on owned and exclusively-licensed intellectual property, including patent rights, trade secrets, copyrights, trademarks, and know-how, and we may be unable to protect and maintain access to these intellectual property rights.
  • We have not performed exhaustive searches or analyses of the intellectual property landscape of the battery industry and cannot guarantee that our technology, or its ultimate integration into EVs, does not infringe intellectual property rights of third parties. We may need to defend ourselves against intellectual property infringement claims, which may be time-consuming and cause us to incur substantial costs.
  • There are risks to our intellectual property based on our international business operations.
  • Our patent applications may not result in issued patents, and our patent rights may be contested, circumvented, invalidated, or limited in scope.
  • Risks Related to Our Limited Operating History
  • Our business plan has yet to be tested, and we may not succeed in executing on our strategic plans, including commercialization.
  • We are a research and development stage company with a history of financial losses and expect to incur significant expenses and continuing losses for the foreseeable future.
  • We may require additional capital to support business growth, and this capital might not be available on commercially reasonable terms or at all.
  • We may be unable to adequately control the costs associated with our operations and the components necessary to develop our technology.
  • If we fail to effectively manage our future growth, we may not be able to market and license the technology and know-how to sell our electrolyte or manufacture our cells.
  • We may not succeed in establishing, maintaining, and strengthening our brand, which could adversely impact customer acceptance of our technology.
  • Risks Related to Finance and Accounting
  • Incorrect estimates or assumptions by management in the preparation of our consolidated financial statements could adversely impact our reported assets, liabilities, income, revenue, or expenses.
  • We incur significant expenses and administrative burdens as a public company.
  • Our business could also be adversely impacted if we have deficiencies in our disclosure controls and procedures or internal control over financial reporting as required by SOX.
  • We may not realize the anticipated benefits of our transactions with a strategic partner in the Republic of Korea and issuance of stock to two individuals who provide services to this partner.
  • Our ability to utilize any net operating losses or tax credit carryforwards to offset taxable income may be subject to certain limitations.
  • We maintain cash deposits in excess of federally insured limits. Adverse developments affecting financial institutions, including bank failures, could adversely impact our liquidity and financial performance.
  • Risks Related to Legal and Regulatory Compliance
  • We have been, and may in the future be, subject to lawsuits, regulatory actions, or government investigations and inquiries which could lead us to incur significant costs or harm our reputation.
  • We are subject to substantial regulation, and changes to, or failure by us to comply with, these regulations could have a material adverse effect on our business, prospects, results of operations, and financial condition.
  • We may be adversely impacted by a disruption or failure of our information technology infrastructure, data security breach, or failure to comply with privacy laws.
  • We are subject to risks associated with artificial intelligence and machine learning technologies.
  • Changes in relevant tax laws or regulations, an adverse interpretation of these items by tax authorities, or changes to our obligations as a result of expanded business operations could adversely impact our effective tax rate and tax liability.
  • Risks Related to our Common Stock and the Warrants
  • The price of our common stock and Warrants could be adversely impacted by sales of substantial amounts of our common stock or Warrants in the public market or the perception that such sales could occur.
  • The price of our common stock may be volatile, and holders of our common stock could lose a significant portion of their investment if the price of our common stock declines.
  • If securities or industry analysts do not publish, or publish inaccurate or unfavorable, research about us, our business, or our market, or if they adversely change their recommendations regarding our common stock, the price and trading volume of our common stock and Warrants could decline.
  • Information available in public media that is published by third parties, including blogs, articles, message boards, and social and other media may include statements not attributable to the Company and may not be reliable or accurate.
  • The issuance of additional shares of common stock under our equity incentive compensation plans or employee stock purchase plan or shares of preferred stock would dilute the interest of our stockholders and may present other risks.
  • Delaware law and provisions in our second amended and restated certificate of incorporation (our “Second A&R Charter”) and amended and restated bylaws (our “Bylaws”) might delay, discourage, or prevent a change in control of the Company or changes in our management, thereby depressing the price of our common stock and Warrants.
  • Our Bylaws designate the Court of Chancery of the State of Delaware as the exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, which could limit stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees, or agents.
  • The Common Warrants, Public Warrants (as defined below), or Private Placement Warrants (as defined below) may not ever be in the money, and they may expire worthless.
  • We may amend the terms of the Warrants in a manner that may be adverse to holders with the approval of the holders of at least 50% of the then-outstanding Public Warrants (or, if applicable, 65% of the then-outstanding Public Warrants and 65% of the then-outstanding Private Placement Warrants, voting as separate classes).
  • Holders of Warrants have no rights as common stockholders until such holders exercise their Warrants and acquire shares of our common stock.
  • In certain circumstances, we may be required to settle the value of the Common Warrants in cash.

Legal proceedings

From time to time, we have been, and may become, involved in litigation or other legal proceedings. See Note 14 of our audited financial statements included in this Report for more information. Regardless of outcome, litigation, including indemnity claims, can have an adverse impact on us because of defense and settlement costs, diversion of management resources, and other factors.

The opening of Item 3, Legal Proceedings.5

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