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Solid Power, Inc. (NASDAQ:SLDP), a company with a market capitalization of $208 million and strong liquidity position according to InvestingPro data, saw its Chief Technology Officer Joshua Buettner-Garrett recently execute a series of stock transactions, according to a recent SEC filing. On March 6, Buettner-Garrett sold 187,500 shares of Solid Power common stock, generating approximately $211,556. The shares were sold at a weighted average price of $1.1283, with the transactions executed at prices ranging from $1.095 to $1.17.
The sale was part of a pre-established Rule 10b5-1 trading plan, which Buettner-Garrett adopted on September 1, 2023. This plan was designed to manage his tax liabilities from option exercises and to facilitate long-term asset diversification. Prior to the sale, Buettner-Garrett acquired 187,500 shares through the exercise of stock options at $0.03 per share, totaling $5,625. Following these transactions, he holds 865,304 shares of Solid Power common stock.
In other recent news, Solid Power Inc. reported a 16% increase in revenue for the fourth quarter of 2024, reaching $20.1 million compared to the previous year. Despite an operating loss of $105.3 million and a net loss of $96.5 million, the company remains optimistic about its sulfide-based solid electrolyte technology. Solid Power has maintained a strong liquidity position with $327.5 million at year-end. The company has been actively expanding its presence in Korea and collaborating with partners like SK On, BMW (ETR:BMWG), and Ford (NYSE:F) to advance its cell development. Solid Power plans to invest between $100 million and $120 million in 2025 to further expand its electrolyte sampling and partnership opportunities. Additionally, the company has received a grant from the U.S. Department of Energy to enhance its electrolyte production capabilities. These developments come amid a challenging market environment with increased operating expenses and slower-than-expected electric vehicle sales.
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