Umicore discloses stake in solid-state battery firm Solid Power

by Michael Green
Solid Power is currently producing 20 ampere hour (Ah) multi-layer all solid-state batteries. Photo: BMW/Solid Power
Belgian battery materials supplier Umicore has revealed it holds a stake in US solid-state battery developer Solid Power – which confirmed last week it would go public by merging with special purpose acquisition company Decarbonization Plus Acquisition Corporation III (DCRC).

Umicore did not disclose details of its investment, which it said was built through two successive investment rounds raised by Solid Power before launching its merger plans.

A Umicore statement said innovation was at the core of its success as a materials technology company.

"Alongside its own research programmes, Umicore promotes open innovation and supports the development of promising technologies by start-up companies such as Solid Power.”

'Technology roadmap'

Umicore is a leading producer of cathode materials for lithium-ion batteries used in electric vehicles, whose technology roadmap "spans short-, mid- and long-term research horizons for cathode and composite anode materials, including those used in solid-state technologies”.
Solid Power, whose investors include car giants BMW and Ford and Volta Energy Technologies, has signed a definitive agreement for the business combination deal with DCRC, which is backed by an affiliate of private markets asset management firm Riverstone Holdings.

World Battery News reported earlier this month that Mathias Miedreich is to succeed Marc Grynberg as CEO of Umicore in the fourth quarter of this year.

Meanwhile, Grynberg and Miedreich are working together to ensure "a smooth leadership transition”.

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