- Published 2026.11.05 15:00
Q3 results confirm line validation and milestone payment
Talks on commercial electrolyte joint venture in Korea also progress
Solid Power, a US solid-state battery company, has successfully completed its line installation agreement (LIA) with SK On for a solid-state battery production line. With the key equipment for next-generation battery commercialization now in place, the two companies have begun discussing a new cooperation contract aimed at establishing a full-scale mass production system.
According to Solid Power's third-quarter 2026 results disclosed to the US Securities and Exchange Commission (SEC) on Nov. 4, the company completed validation under its line installation agreement with SK On and received the related milestone payment. Solid Power also announced that it is currently in negotiations with SK On for a new cooperation contract.
The two companies previously signed an agreement in January 2024 covering research and development (R&D) licensing, electrolyte supply, and production line installation. The line installation contract primarily involved building a solid-state battery pilot production line at SK On's Daejeon facility, modeled after Solid Power's Colorado pilot line in the United States. The milestone payment means the equipment was successfully delivered after meeting the targeted design and performance standards.
Solid Power is also continuing to supply key materials along with the equipment build-out. During the third quarter, it provided solid electrolyte materials to major customers including SK On and Samsung SDI for testing and in-house development. Solid Power's third-quarter product revenue of $243,000 (about 340 million won) also came mostly from contract work with SK On.
Investment in Korea to gain an early lead in the commercial solid-state battery market is also becoming visible. Solid Power has advanced discussions with leading Korean battery materials companies to establish a joint venture (JV) for commercial electrolyte production. John Van Scoter, CEO of Solid Power, said in the third-quarter earnings release, "We have advanced discussions to establish a joint venture in Korea to establish commercial-scale electrolyte manufacturing capability."
Solid Power's own materials production capacity expansion is also proceeding as planned. The company has begun feeding materials into MOBIUS, its next-generation continuous electrolyte production line, and plans to start full operation by the end of 2026. Once MOBIUS is fully operational, it will add 45 tons of annual electrolyte production capacity, bringing the company's total capacity to 75 tons per year.
Meanwhile, Solid Power held $397.6 million (about 556 billion won) in liquidity at the end of the third quarter and has no debt. Building on its strong capital position and pilot production capabilities, the company plans to expand applications of its electrolyte technology beyond EV solid-state batteries to drones, defense, and humanoid robots.
※ This article is an AI translation of the Korean original published by Korea Credit News; it was checked by automated quality guards and published by the English edition desk.
