NIA Member Solvay, an advanced material manufacturing company, also has a venture capital fund, in the form of Solvay Ventures—which invests in breakthrough technologies within the areas of advanced materials and formulations.  Solvay Ventures has recently announced that it has invested in the US-based company, Solid Power, which is a manufacturer of next-generation solid-state batteries.

Stéphane Roussel, Solvay Ventures Managing Director stated that “Solid Power’s technology has the performance, manufacturing scale, and low costs required by the automotive industry to become the leading battery technology in cars of the future”.

Solvay is already a provider of key materials for Li-ion batteries and is committed to helping develop the next generation of batteries that have a high performance, lower cost and are more sustainable than current commercially available batteries—with a significant push towards the electrification of vehicles.

Aside from its own R&D, Solvay is keen on investing in companies that are in support of this mission, one of which is Solid Power. Solid Power is a spinout from the University of Colorado Boulder, USA, and was set up in 2012 by a group of leading battery researchers and engineers. It produces ground-breaking solid-state technology that enables lithium metal anodes to achieve an impressive energy density, whilst remaining safe. Its energy density achievements have also received financial backing from many other companies, including Samsung, Hyundai cradle, Sanoh, and A123 Systems, as well as a partnership with BMW.

Doug Campbell, CEO of Solid Paper, has also commented that "We are excited for this opportunity to strengthen our relationship with Solvay. This partnership contributes to our company's efforts to revolutionize the energy storage market through developing and commercializing all solid-state batteries".

Source: Solvay