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American City Business Journals

Colorado startup Solid Power goes public, raises nearly $543M in SPAC deal

A Colorado battery technology company that Ford and BMW have invested in raised $542.9 million by going public through a reverse merger. Louisville-based Solid Power Inc. shares appear on the Nasdaq exchange a day after the closure of its acquisition by Decarbonization Plus Acquisition Corporation III (Nasdaq: DCRC), a special purpose acquisition company, or SPAC, formed to get the battery startup publicly listed. The company’s solid-state battery technology promises to create batteries for electric vehicles that would be lighter, faster-charging and safer than existing lithium-ion batteries that use liquid electrolytes.

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