American companies may be playing catch-up to Asian giants in the battery business, but solid-state batteries could give the U.S. another shot at becoming competitive. That's according to the CEO of Colorado-based solid electrolyte specialist Solid Power.

Solid Power is part of a wave of young American battery startups—including California-based QuantumScape and Massachusetts-based Factorial—that are racing to commercialize solid-state batteries.

Battery scientists broadly believe that solid-state cells can unlock more driving range for EVs, faster charging speeds, and eliminate fire risks compared to current lithium-ion batteries.

But the technology has proven extraordinarily difficult to manufacture at scale without defects. If you've been following this race, you'll know the technology has spent years being just around the corner.

Solid Power, however, believes the wait will eventually be worth it. The company expects solid-state batteries to reach select high-end EVs by the end of this decade, with broader adoption following in the early 2030s.

It also secured a $50 million U.S. Department of Energy grant in 2024 under the Bipartisan Infrastructure Law to support its development efforts.

Unlike some of its competitors, Solid Power isn't trying to build an entire battery. It specializes in one crucial ingredient: the electrolyte, which facilitates the movement of lithium ions between the electrodes.

In a lithium-ion battery that electrolyte is usually a flammable liquid chemical. In solid-state batteries, companies are branching out into mainly three different varieties for the solid electrolytes: polymers, oxides, and sulfides.

Solid Power is betting on the third option. S. a way back in the battery business.

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