Participated · Series A · Sep 2018

Solid Power develops all‑solid‑state battery cells aimed at increasing energy density for electric vehicles; the company says its batteries can deliver a 50%–100% energy-density uplift versus rechargeable lithium‑ion cells. It currently manufactures 2 Ah cells and is producing 20 Ah cells on a pilot basis with standard lithium‑ion equipment, and says “hundreds” of 2 Ah cells were validated by Ford and BMW. Under separate joint development agreements with Ford and BMW, Solid Power will deliver 100 Ah cells for testing and vehicle integration from 2022; those 100 Ah cells will have a larger footprint and more layers than the 20 Ah pilot cells. The new funding is intended to boost manufacturing to produce the company’s highest ampere‑hour output yet. The company has previously raised a $20 million Series A in 2018 with participation from BMW, Ford, Samsung, Hyundai, Volta and others. Solid Power develops next-generation all solid-state batteries (ASSB) that offer higher energy density, improved safety, and greater reliability compared with lithium-ion cells. Its technology targets applications including electric vehicles, medical devices, aircraft, and satellites. The company occupies a 21,000 square-foot facility in the Colorado Technology Center in Louisville, Colorado, and was founded in 2012 by CEO Doug Campbell. In December 2017 Solid Power announced a partnership with the BMW Group to jointly develop its solid-state batteries for electric vehicle applications. Solid Power closed $20M in Series A funding to scale up production via a multi-MWh roll-to-roll facility, planned for full construction and installation by the end of 2018 and full operation in 2019. The new production capacity will be used for preliminary qualification of the company’s solid-state cells for automotive, aerospace, and defense markets.

Participated · Equity · Jan 2010

Fisker Automotive is an Irvine-based maker of electric cars. According to a regulatory filing, the company raised $103.7M as part of an ongoing $150M funding round. Details on the funding have not yet been announced by the company. The recent raise brings Fisker's total capital raised to well north of $1.2 billion. Fisker is venture-backed by firms such as Kleiner Perkins Caufield & Byers and New Enterprise Associates, among others. The filing did not disclose instruments or terms of the financing. Fisker manufactures luxury plug-in hybrid cars, notably the Karma sedan. The Karma carries around a 20 kilowatt lithium-ion battery, an effective fuel efficiency of around 100 miles per gallon, and the company says it can travel up to 300 miles before needing to refuel; the internal combustion engine kicks in after about 50 miles. The Karma has a top speed of 95 miles per hour, reaches 60 mph in around 8 seconds, and includes a solar panel on the roof that generates roughly half a kilowatt-hour per day. Fisker is also developing a cheaper plug-in hybrid sedan called the Nina, expected to retail between $35,000 and $50,000. The company is backed by Kleiner Perkins, New Enterprise Associates and A123 Systems and has recently raised additional funding to support production. Company leadership has indicated plans to go public in the future. Fisker Automotive is an Irvine-based manufacturer and designer of electric vehicles. A regulatory filing shows the company has raised another $150 million. Details of the funding have not been announced. Reports say the round valued the company at $600 million pre-money. The reports include Kleiner Perkins Caufield & Byers and New Enterprise Associates as investors. The filing and reports do not specify the financing instrument or additional terms. Fisker Automotive develops luxury plug-in hybrid cars, led by its Karma model, and is planning a more affordable “Project Nina” line. The company intends to launch the $88,000 Karma this year and a plug-in sedan under $40,000 by the end of next year. Fisker is building a new manufacturing plant in Delaware and is using private equity to share development and capital costs alongside federal support. A123Systems is a supplier of the lithium‑ion battery packs for the Karma and future models. Financially, Fisker has raised substantial equity this year and additional tranches to secure DOE matching funds; it has raised upwards of $300 million in private capital since its 2008 founding. Fisker Automotive, based in Irvine, CA, develops plug-in hybrid cars. Its first model, the four-door Fisker Karma, is designed and engineered in the U.S. and can reach 60 mph in six seconds and top 125 mph. The company secured access to an additional $115.3M in private equity funding to develop plug-in hybrids. That private funding will enable Fisker to access a $528.7M U.S. Department of Energy conditional loan to help speed completion of the Karma. Fisker signed a multi-year supply agreement with A123 Systems for the lithium-ion batteries that will power the Karma. The financing and supply deal are intended to accelerate commercialization of its first plug-in hybrid.