Prior to the sale, Buettner-Garrett exercised stock options to acquire 187,500 shares at a price of $0.03 per share, totaling $5,625. Following these transactions, Buettner-Garrett now directly owns 869,720 shares. Access 12 more InvestingPro Tips and comprehensive financial analysis for SLDP via InvestingProexclusive research report. Access 12 more InvestingPro Tips and comprehensive financial analysis for SLDP via InvestingProexclusive research report.

This sale was made as part of a previously established Rule 10b5-1 trading plan, which Buettner-Garrett adopted on September 1, 2023. The plan was designed to manage tax liabilities from stock option exercises and to -diversify his asset portfolio. The transaction was executed in several trades, with prices ranging from $1.05 to $1.098, amid a challenging period for the stock, which has declined nearly 35% in the past six months according to InvestingPro data.

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

In other recent news, Solid Power, Inc. reported its third quarter 2024 financial results, revealing a net loss despite a strong liquidity position. The company, which maintains a healthy current ratio of 6.88x, reported revenue of $4.7 million primarily from SK On agreements and government contracts. However, operating expenses stood at $32.2 million, leading to a net loss of $22.4 million. Despite this, Solid Power held $348.1 million in cash as of September 30, 2024.

In line with these financial results, Solid Power announced its selection to negotiate a potential $50 million grant from the US Department of Energy. This grant, if awarded, is intended to promote the production of solid electrolyte materials for advanced all-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 new battery technology. This extended partnership is aimed at the development of Solid Power’s solid-state batteries, which are expected to offer higher energy density and safety compared to conventional lithium-ion batteries.

Finally, Solid Power is advancing its electrolyte Innovation Center, A-2 cell design, and collaboration with BMW (ETR:) and SK On. The company also concluded a non-binding memorandum of understanding with a major battery manufacturer for electrolyte collaboration. These are recent developments that highlight Solid Power’s commitment to advancing the future of electric vehicle technology.

This article was created with the support of AI and reviewed by an editor. For more information see our T&C.