Doug Campbell, CEO of Solid Power
Yeah absolutely, the capital that we will be raising through this transaction is strictly growth capital. So you know, today we have a megawatt hour scale roll
to roll production line that essentially mirrors lithium ion production. Were certainly going to scale that a bit, so that we can get to full scale in terms of size for the batteries for our OEM partners, and then in parallel, were going
to be scaling rather considerably. This single material component we produce at Solid Power which is our solid electrolyte material.
Oliver Renick, TD
Ameritrade
In your press release you say Ford and the BMW Group aim to utilize Solid Powers battery technology. What does that mean, aim to
utilize?
Doug Campbell, CEO of Solid Power
Essentially integrating their vehicles. So what we have executed in parallel with this transaction is very extensive, very detailed vehicle integration
programs that initiates the formal automotive qualification phase in early 2022, and then really goes to the entire vehicle automotive qualification phase and then of course into vehicle introduction.
Oliver Renick, TD Ameritrade
What is the relationship
with Ford and BMW? Fo they have commitments with your product right now, do they have buying commitments or integration plans from a construction perspective in the vehicles, what is the status of that relationship?
Doug Campbell, CEO of Solid Power
Yeah, first and
foremost you know, no OEM is going to issue a supply contract until you have, you know youve been fully qualified. In the automotive world that is not trivial. So thats essentially what were kicking off, but in our agreements we do
indeed have a framework. Its a Stage Gate process but it does culminate in supply agreements.
Oliver Renick, TD Ameritrade
Ok so supply agreements for Ford and BMW right now, can you give me an idea about the nature of these agreements are? If you do something theyll pay this
amount, or the timeline for them?
Doug Campbell, CEO of Solid Power
In some respects, we do have some specified volumes, but the timeline is really about really qualification. So, you know, weve got to get through
whats called in the industry an A sample, and a B sample validation phase in the relative near term. When I say near term, get that completed by the end of 2023. Just so your viewers are aware, successfully concluding B sample is a big deal
because at that point, you have demonstrated full compliance with the full set of automotive requirements and youre essentially designed frozen.
Oliver Renick, TD Ameritrade
Is there a revenue
component to these agreements right now? Do you have revenue coming from for BMW at this moment?