AF Awards $2.9 M Battery Contract to Solid Power for New Technology Development

The U.S. Air Force has awarded a Rapid Innovation Fund contract to Solid Power Inc. for development of battery technology for the Intercontinental Ballistic Missile (ICBM) force. Under the $2.9 million, two-year contract, Solid Power Inc. will partner with Lockheed Martin [NYSE: LMT], a key developer and sustainer of ICBM missiles and reentry systems since the 1950s.

Solid Power and Lockheed Martin will develop battery technologies that will extend energy storage duration and be suitable for a variety of voltage, current and environmental requirements, while reducing battery weight. The Rapid Innovation Fund program provides a collaborative vehicle for small businesses to provide the Air Force with innovative technologies that can be rapidly inserted into acquisition programs that meet specific defense needs.

“We are extremely honored by this opportunity from the U.S. Air Force to develop the next-generation of ICBM battery systems. We believe that our technology is well suited to the unique requirements of ICBMs and believe that, together with Lockheed Martin, we are well suited to address the U.S. Air Force’s need for a high performance and reliable energy storage system,” said Doug Campbell, president and CEO of Solid Power.

Lockheed Martin will support Solid Power in assuring that the battery design meets program requirements definition and in performing test and evaluation. This will include electrochemical and environmental testing of power cell units and fully configured batteries. Lockheed Martin Space Systems is the Air Force’s contractor for sustainment of reentry subsystems for the Minuteman III ICBM. Lockheed Martin has been the principal designer, manufacturer and sustainer of Minuteman III reentry systems since the 1960s and developed the Air Force’s Atlas, Titan I, Titan II, Peacekeeper and Small ICBMs and many of the associated reentry systems.

Solid Power Inc. was founded in 2012 based on groundbreaking research conducted at the University of Colorado at Boulder under funding from the Defense Advanced Research Projects Agency . The company is developing solid-state rechargeable battery products for government and commercial markets, including aerospace and electric vehicles, where high energy, safe operation and long life are required. Since 2013, the company has received funding from the ARPA-E, State of Colorado’s Office of Economic Development and International Trade, the U.S. Air Force, the National Science Foundation, U.S. Missile Defense Agency and NASA. For more information, visit www.solidpowerbattery.com .