Joshua Buettner Garrett, CTO at Solid Power, Sells Stock Worth $201,000 By Investing.com

Prior to the sale, Buettner-Garrett exercised stock options to acquire 187,500 shares at $0.03 per share, for a total of $5,625. Following these transactions, Buettner-Garrett now directly owns 869,720 shares. Get access to 12 additional InvestingPro tips and comprehensive SLDP financial analysis by InvestingProExclusive research report. Get access to 12 additional InvestingPro tips and comprehensive SLDP financial analysis by InvestingProExclusive research report.

This sale was made as part of a pre-established Rule 10b5-1 trading plan, which Buettner-Garrett adopted on September 1, 2023. The plan was designed to manage the tax liabilities from stock option exercises and to diversify its asset portfolio. The deal was executed in multiple trades, with prices ranging from $1.05 to $1,098, amid a difficult period for the stock, which has fallen approximately 35% over the past six months according to InvestingPro Data.

Prior to the sale, Buettner-Garrett exercised stock options to acquire 187,500 shares at $0.03 per share, for a total of $5,625. Following these transactions, Buettner-Garrett now directly owns 869,720 shares.

In other recent news, Solid Power, Inc. announced announced its financial results for the third quarter of 2024, revealing a net loss despite its strong liquidity position. The company, which maintains a healthy stream ratio of 6.88x, posted revenue of $4.7 million primarily from SK On agreements and government contracts. However, operating expenses were $32.2 million, resulting in a net loss of $22.4 million. However, Solid Power has $348.1 million in cash as of September 30, 2024.

Concurrent with these financial results, Solid Power announced its selection to negotiate a potential $50 million grant from the U.S. Department of Energy. This grant, if awarded, is intended to enhance the production of solid materials for advanced solid-state batteries.

In other company developments, Solid Power has extended its partnership with Ford Motor Company (NYSE:) through December 31, 2025, strengthening their collaboration on Solid Power’s innovative battery technology. This expanded partnership aims to develop Solid Power’s solid-state batteries, which are expected to provide higher energy density and safety compared to traditional lithium-ion batteries.

Finally, Solid Power is moving forward with its innovation center, A-2 cell design, and partnerships with BMW (ETR:) and SK On. The company is also finalizing a non-binding memorandum of understanding with a major battery manufacturer to cooperate in the field of electrolytes. These are the latest developments that highlight Solid Power’s commitment to powering the future of electric vehicle technology.

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