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Solid Power, Inc. (NASDAQ:SLDP), a $247 million market cap company currently trading at $1.36 per share, recently reported a significant transaction involving its Chief Technology Officer, Joshua Buettner-Garrett. According to a Form 4 filing with the Securities and Exchange Commission, Buettner-Garrett sold 187,500 shares of Solid Power’s common stock on February 10, 2025. The shares were sold at a weighted average price of $1.3142 per share, resulting in a total transaction value of approximately $246,412.
This sale was part of a pre-established Rule 10b5-1 trading plan, which Buettner-Garrett adopted on September 1, 2023. The plan was designed to manage his tax liabilities from stock option exercises and to diversify his assets over the long term. The transaction was executed through multiple trades at prices ranging from $1.30 to $1.355 per share.
Following the sale, Buettner-Garrett holds 865,304 shares of Solid Power’s common stock. The transaction reflects a strategic decision by the CTO to manage his financial portfolio while maintaining a substantial stake in the company.
In other recent news, Solid Power, Inc., a developer of solid-state battery technology, has secured significant financial backing from the U.S. Department of Energy (DOE). The company announced that it will receive up to $50 million in funding to enhance the production of sulfide-based solid electrolyte material, a core component of next-generation batteries. This funding is part of an Assistance Agreement, which also obligates Solid Power to contribute $60 million of its own funds for the installation of essential production equipment.
In a parallel development, Solid Power’s Chief Operating Officer, Derek Johnson, has announced his resignation effective February 1, 2025. Following his resignation, Johnson will transition into a consulting role until May 1, 2025, to ensure a smooth handover of his duties. The company has yet to announce a successor for the COO position.
In addition to these developments, Solid Power has extended its joint development agreement with Ford Motor Company (NYSE:F) until December 31, 2025. This continued partnership is aimed at advancing the company’s solid-state batteries, which are anticipated to offer superior energy density and safety compared to conventional lithium-ion batteries. These recent developments underscore Solid Power’s ongoing efforts to lead in the innovation and production of next-generation battery materials.
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