LOUISVILLE, Colo., May 13, 2021 /PRNewswire/ -- Solid Power, an
industry-leading producer of all-solid-state batteries for electric
vehicles, today announced the appointment of Ted Miller and Rainer
Feurer to its Board of Directors. Ted Miller was appointed by Ford Motor Company
(NYSE: F), while Rainer Feurer was
appointed by the BMW Group (BMW.DE). The BMW Group and Ford were
lead investors in Solid Power's recently announced $130 million Series B investment round.
Ted Miller currently serves as
Manager of Electrification Subsystems and Power Supply Research
with global responsibility for Ford battery technology research and
development. Mr. Miller is a 25-year veteran of Ford Motor Company
with prior lithium battery experience at SAFT America.
Rainer Feurer currently serves
the BMW Group as Member of the Board of Directors/Supervisory Board
of several joint-ventures such as BMW Brilliance Automotive,
Spotlight, HERE Technologies as well as YOUR NOW. Mr. Feurer has a
23-year career at the BMW Group and holds at present the position
as SVP of Corporate Investments.
"Ford Motor Company and the BMW Group have been important
strategic partners for Solid Power," said Doug Campbell, CEO and co-founder of Solid
Power. "Both Ted and Rainer will bring their exceptional
credentials in corporate strategy and power system development to
"Being a leader in advanced battery technology is of the utmost
importance for the BMW Group as we enter the next phase of our
electrification strategy. Since 2016 we have partnered with
Solid Power on the development of all-solid-state batteries with
the goal of creating more efficient and more sustainable electric
vehicles based on this future battery technology," said
Rainer Feurer on Thursday. "A major
next step will come in 2022 with the delivery of full-scale 100 Ah
cells by Solid Power. Following that, the next key milestone
for BMW will be our demo car, which will hit the road well before
2025. I am looking forward to stepping into this next development
stage as a new member of Solid Power's Board of Directors."
"Ford is committed to lead the electric revolution, and I am
delighted to join the board of Solid Power on Ford's behalf,"
Miller said. "We are excited about our ongoing partnership with
Solid Power and are increasing our investment and engagement to
accelerate the commercialization of solid-state battery
technology. This will further enhance the EV customer
experience and help us create must-have vehicles."
Alongside the Series B investment, Ford and the BMW Group
recently announced expanded joint development agreements with Solid
Power to secure all-solid-state batteries for future electric
vehicles. The BMW Group and Ford aim to utilize Solid Power's
low-cost, high-energy all-solid-state battery technology in
forthcoming electric vehicles.
Solid Power's all-solid-state platform technology allows for the
production of unique cell designs expected to meet performance
requirements for each of Solid Power's automotive partners. Solid
Power's truly all-solid cell designs achieve higher energy
densities, are safer and are expected to cost less than today's
best-performing lithium-ion battery cells.
About Solid Power
Solid Power is an industry-leading
producer of all-solid-state rechargeable batteries for electric
vehicles and mobile power markets. Solid Power replaces the
flammable liquid electrolyte in a conventional lithium-ion battery
with a proprietary sulfide solid electrolyte. As a result, Solid
Power's all-solid-state batteries are safer and more stable across
a broad temperature range, can provide a 50-100% increase in energy
density compared to the best available rechargeable batteries,
enable cheaper, more energy-dense battery pack designs and are
compatible with traditional lithium-ion manufacturing processes.
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SOURCE Solid Power