(RTTNews) - Solid Power, Inc.,(SLDP) rallied 24.98% to $6.31, gaining $0.98, after announcing a strategic collaboration with Samsung SDI and BMW to develop and validate all-solid-state battery or ASSB technology.
Under the agreement, Solid Power will supply its sulfide-based solid electrolyte to Samsung SDI, which will integrate it into cells that BMW will evaluate for performance in upcoming demonstration vehicles.
CEO John Van Scoter said the partnership marks "a key step towards commercialization of ASSB technology," highlighting improved safety, energy density, and battery life relative to conventional lithium-ion systems.
SLDP opened at $5.45, reached a high of $6.50 and a low of $5.40, compared to the previous close of $5.33 on the Nasdaq. Trading volume surged significantly above average. The stock's 52-week range is approximately $1.20 - $7.20.
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