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Solid Power reports $23.8 million loss as it advances battery technology in Louisville
ColoradoBiz Staff //August 5, 2026//
Solid Power reports $23.8 million loss as it advances battery technology in Louisville
ColoradoBiz Staff //August 5, 2026//
In Brief:
- Solid Power reports $23.8 million net loss in second quarter
- Operating expenses rose to $30 million from $29.4 million
- Company holds $419.3 million in cash and securities as of June 30
- Installation of electrolyte production pilot line equipment underway
Louisville-based Solid Power reported a net loss of $23.8 million, or 11 cents per share, for the second quarter of 2026 as it continued work on solid-state battery technology and a new electrolyte production line.
The company recorded negative revenue and grant income of $300,000 for the quarter after reversing $1.2 million in previously recognized revenue because of revised assumptions about milestone payments. Revenue and grant income totaled $2.8 million for the first half of the year.
Operating expenses increased to $30 million from $29.4 million in the first quarter. The company posted a second-quarter operating loss of $30.3 million and spent $6.3 million on capital projects, primarily construction of its electrolyte production pilot line.
Solid Power had $419.3 million in cash, cash equivalents and available-for-sale securities as of June 30, up from $336.5 million at the end of 2025. The company reported no debt financing and expects its 2026 cash investments to total $85 million to $100 million.
Installation of major equipment for the pilot line remained underway, with acceptance testing expected to be completed in the third quarter. Validation and startup are planned for the fourth quarter.
Solid Power also completed the first stage of its ISO 9001 certification audit and expects the second stage in the third quarter. The company completed an installation agreement with SK On and received a related milestone payment. The companies are negotiating another collaboration agreement.
“During the second quarter, we made real progress against our strategic priorities, including our partner relationships, joint venture opportunities and operational capabilities,” CEO John Van Scoter said.
Solid Power is also discussing a potential joint venture to produce electrolyte at commercial scale in South Korea.
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