Solid Power gets investment from Korea-based Hanon Systems

Thursday October 25, 2018 0 comments Tags: Louisville, Solid Power, Hanon Systems

LOUISVILLE -- Korea-based global automotive supplier Hanon Systems announced an investment in Solid Power, a developer of solid-state rechargeable battery technology.

The amount of the investment was not disclosed.Solid_Power_logoUSE

The investment is part of a special-purpose vehicle initiated by Volta Energy Technologies, which specializes in identifying and investing in breakthrough energy technology by bringing together investors with complementary strategic interests, and validating the technologies through leading institutions including Argonne National Laboratory.

"We are partnering with industry convener Volta for its technical expertise along with the company's ability to bring together stakeholders interested in promoting the global adoption of eco-friendly vehicles," said In-Young Lee, Hanon Systems president and CEO.

The lithium-metal enabling technology by Louisville-based Solid Power is a solid conductive material considered to be a viable replacement to the liquid electrolyte used in today's lithium-ion batteries. Among the benefits from this solid-state material includes increased energy density and improved efficiency.

The investment by Hanon Systems demonstrates the company's continued focus on e-mobility and will provide early insight into the next generation of automotive thermal and energy management solutions for electrified vehicles.