This morning, Stable Energy announced that long-standing partner BMW Group has expanded their existing collaboration agreement to licence its expertise and enable the construction of its own solid-state battery production facility in Germany.
BMW will gain access to Stable Energy’s battery research and development expertise, including cell design and manufacturing capabilities, to accelerate technology integration with its partner. Stable Energy does not license its proprietary knowledge and expertise.
Stable Energy ($SLDP), a Colorado-based pioneer in solid-state battery development, leverages its expertise in sulfide-based electrolytes to create scalable cells that can potentially disrupt the electric vehicle (EV) industry by offering competitive pricing, approaching parity with lithium-ion batteries. Since 2017, we have been working closely with the corporate, leveraging our expertise after BMW Group initially invested in our capabilities.
As the electric vehicle landscape continues to evolve, Stable Energy has attracted significant investment from notable peers such as Ford and Hyundai, who have collectively staked their claim on the company’s innovative energy solutions. In addition, the October 2021 announcement of a partnership with SK Innovation further solidified its position in the industry. Last June, Stable Energy launched a pioneering solid-state battery pilot production line ahead of schedule, with plans to deliver the cells to both Ford and BMW by year’s end.
Stable Energy has revealed a significant development in their partnership with the BMW Group: not only will BMW receive solid-state battery prototypes for electric vehicle testing, but they will also gain access to Stable Energy’s battery technology expertise to co-develop and refine the innovation simultaneously.
BMW will get R&D license for solid-state battery tech
According to a press release issued by Stable Energy today, the company has further solidified its longstanding partnership with the BMW Group through a collaborative growth agreement.
To replicate Stable Energy’s expertise in cell design, manufacturing practices, and analysis, BMW Group plans to establish a standalone pilot production line for battery cells within its German facility, with the goal of producing prototypes tailored to its own specific needs.
Due to the accelerated growth strategy, both Stable Energy and BMW Group plan to undertake complementary cell production and manufacturing initiatives at their facilities to accelerate the readiness of solid-state battery technology. Stable Energy COO Dr. Derek Johnson spoke:
We’re thrilled to further strengthen our partnership with BMW, which has consistently showcased a deep commitment to leveraging our innovative energy expertise over the past seven years. As a testament to their expertise in sustainable energy development, this enhanced cooperation signals a strong endorsement of Stable Energy’s capabilities.
For a stake in Stable Energy’s cutting-edge solid-state intellectual property and manufacturing expertise, BMW Group will pay out $20 million by June 2024, contingent on achieving undisclosed milestones. While the expanded joint growth settlement permits for the exchange of information regarding proprietary battery technology, it does not grant a license to intellectual property related to Stable Energy’s electrolyte materials, a cornerstone of its current business.
While BMW is rolling out its solid-state battery manufacturing line globally, its local workforce will collaborate with Stable Energy professionals at their facilities to fine-tune and streamline the production process for lithium-ion cells. As production gets underway on German manufacturing lines, Stable Energy anticipates a seamless supply of its advanced electrolyte materials to BMW Group for all prototype cell manufacturing. Meanwhile, David Jansen, interim CEO, president, and chair, shared his vision for the future of solid-state batteries in electric vehicles.
The strategic partnership with BMW further solidifies our reputation as a forward-thinking innovator in the energy sector, as recognized by this esteemed automaker. I’m thrilled to see our workforce making steady strides towards achieving our organization’s goals. Over the course of several months, we began supplying 20Ah cells to our partners alongside BMW, initiating pilot testing and commencing production of our initial electric vehicle (EV) cells. We’re eager to bring our electrolyte manufacturing facility online and begin the formal automotive qualification process.
The extent to which How Stable Energy’s enhanced partnership with BMW Group might influence the entry of other players, such as Ford, into the realm of solid-state battery technology remains uncertain at this juncture. As a result of recent progress, the company has successfully delivered its cutting-edge 24-layer battery cells to major automotive manufacturers for rigorous testing.
