Solid Power (SLDP) 10-K 23 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 15, 2022	Jun. 30, 2021
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Entity File Number	001-40284
Entity Registrant Name	SOLID POWER, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-1888095
Entity Address State Or Province	CO
Entity Address, Address Line One	486 S. Pierce Ave., Suite E
Entity Address, City or Town	Louisville
Entity Address, Postal Zip Code	80027
City Area Code	303
Local Phone Number	219-0720
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Public Float			$ 375.9
Entity Common Stock, Shares Outstanding		172,649,157
Entity Central Index Key	0001844862
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Denver, Colorado
Common stock
Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	SLDP
Security Exchange Name	NASDAQ
Warrants, each whole warrant exercisable for one share of common stock at an exercise price of $11.50
Title of 12(b) Security	Warrants, each whole warrant exercisable for one share of common stock at an
Trading Symbol	SLDPW
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 513,447	$ 4,974
Marketable securities	75,885	0
Contract receivables	829	277
Prepaid expenses and other current assets	4,216	227
Total current assets	594,377	5,478
Property and Equipment - Net	22,082	8,481
Other Assets	602
Intangible Assets - Net	619	248
Total assets	617,680	14,207
Current Liabilities
Accounts payable	4,326	202
Current portion of long-term debt	120	1,235
Deferred revenue	500	38
Accrued and other current liabilities:
Accrued compensation	1,151	295
Accrued interest		13
Other accrued liabilities	2,269	61
Total current liabilities	8,366	1,844
Long-term Debt - Net of current portion	10	1,489
Warrant Liabilities	50,020
Convertible Notes Payable		3,612
Embedded Derivative Liability		2,817
Other Long-term Liabilities	393	321
Deferred Taxes	226	252
Total liabilities	59,015	10,335
Stockholders' Equity
Common Stock, $0.0001 par value; 2,000,000,000 and 122,507,000 shares authorized; 167,557,988 and 69,885,084 shares issued and outstanding as of December 31, 2021 and 2020, respectively	17	7
Additional paid-in capital	568,183	31,492
Accumulated deficit	(9,535)	(27,627)
Total stockholders' equity	558,665	3,872
Total liabilities and stockholders' equity	$ 617,680	$ 14,207

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Consolidated Balance Sheets
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	2,000,000,000	122,507,000
Common stock, shares issued	167,557,988	69,885,084
Common stock, shares outstanding	167,557,988	69,885,084

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements of Operations
Revenue	$ 2,712	$ 2,103
Operating Expenses
Direct costs	3,073	1,670
Research and development	17,102	9,594
Marketing and sales	3,428	1,205
General and administrative	5,655	1,227
Total operating expenses	29,258	13,696
Operating Loss	(26,546)	(11,593)
Nonoperating Income (Expense)
Interest income	56	28
Change in fair value of warrant liabilities	51,233
Interest expense	(394)	(361)
Other expense	(3,602)
Loss from change in fair value of debt		(437)
Loss from change in fair value of embedded derivative liability	(2,680)	(2,817)
Gain on loan extinguishment		923
Total nonoperating income (Loss)	44,613	(2,664)
Pretax Income (Loss)	18,067	(14,257)
Income tax (benefit)/expense	(25)	118
Net Income (Loss)	18,092	(14,375)
Premium paid on repurchase of redeemable convertible preferred stock	5,436
Net Income (Loss) attributable to Common Stockholders	$ 12,656	$ (14,375)
Basic earnings (loss) per share	$ 0.13	$ (0.21)
Diluted earnings (loss) per share	$ 0.11	$ (0.21)
Weighted average shares outstanding - basic	95,477,472	69,228,444
Weighted average shares outstanding - diluted	114,910,129	69,228,444

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)		Common stockRetroactive Application Of Recapitalization	Common stockAdjusted Balance	Common stock	Additional Paid-in CapitalRetroactive Application Of Recapitalization	Additional Paid-in CapitalAdjusted Balance	Additional Paid-in Capital	Accumulated DeficitRetroactive Application Of Recapitalization	Accumulated DeficitAdjusted Balance	Accumulated Deficit	Retroactive Application Of Recapitalization	Adjusted Balance	Total
Balance at the beginning at Dec. 31, 2019											$ (29,096,000)		$ 29,096,000
Balance at the beginning at Dec. 31, 2019		$ 6,000	$ 7,000	$ 1,000	$ 26,145,000	$ 26,145,000		$ 2,945,000	$ (13,252,000)	$ (16,197,000)	$ 29,096,000	$ 12,900,000	(16,196,000)
Balance at the beginning (in shares) at Dec. 31, 2019		61,573,943	68,787,673	7,213,730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)										(14,375,000)			(14,375,000)
Expenses related to issuance of warrants							$ 16,000						16,000
Beneficial Conversion feature on convertible debt							5,125,000						5,125,000
Stock options exercised (in shares)				1,097,370
Stock options exercised				$ 1,097,370			24,000						24,000
Stock-based compensation expense							182,000						182,000
Balance at the end at Dec. 31, 2020				$ 7,000			31,492,000			(27,627,000)			3,872,000
Balance at the end (in shares) at Dec. 31, 2020				69,885,043
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)										18,092,000			18,092,000
Business Combination, net of redemptions and transaction costs of $47,888				$ 6,000			394,587,000						394,593,000
Business Combination, net of redemptions and transaction costs of $47,888 (in shares)				63,039,829
Beneficial Conversion feature on convertible debt							4,875,000						4,875,000
Redemption of Series A-1 redeemable preferred stock	[1]						(6,041,000)						(6,041,000)
Redemption of Series A-1 redeemable preferred stock (in shares)	[1]			(1,065,432)
Issuance of Series B redeemable preferred stock net of issuance costs of $4,511 and settlement of associated convertible preferred stock liability	[1]			$ 3,000			140,436,000						140,439,000
Issuance of Series B redeemable preferred stock net of issuance costs of $4,511 and settlement of associated convertible preferred stock liability (in shares)	[1]			27,930,997
Warrants exercised				$ 1,000			14,000						15,000
Stock options exercised (in shares)				1,160,930
Warrants exercised (in shares)				6,606,621
Issuance Costs													4,511,000
Stock options exercised				$ 1,160,930			106,000						106,000
Stock-based compensation expense							2,714,000						2,714,000
Balance at the end at Dec. 31, 2021				$ 17,000			$ 568,183,000			$ (9,535,000)			$ 558,665,000
Balance at the end (in shares) at Dec. 31, 2021				167,557,988
[1]	Legacy Solid Power preferred stock transactions converted to common with recast at Business Combination.

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Consolidated Statements of Stockholders' Equity
Transaction costs	$ 47,888
Stock issuance costs	$ 4,511

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities
Net Income (Loss)	$ 18,092	$ (14,375)
Adjustments to reconcile net income (loss) to net cash and cash equivalents from operating activities:
Depreciation and amortization	2,360	2,067
Loss on sale of property and equipment	11	7
(Gain) on extinguishment of debt		(923)
Stock compensation expense	2,714	182
Stock warrant issue		16
Deferred taxes	(25)	118
Warrant liabilities	(51,233)
Accrued interest on convertible notes payable to be paid in kind		165
Non-cash interest expense on convertible notes payable	263	437
Loss from change in fair value of embedded derivative liability	2,680	2,817
Changes in operating assets and liabilities that provided (used) cash and cash equivalents:
Contract receivables	(552)	(248)
Due from related party		244
Prepaid expenses and other current assets	(3,865)	23
Accounts payable	778	(120)
Deferred revenue	462	(421)
Accrued and other liabilities	2,801	77
Deferred rent	74	(61)
Net cash and cash equivalents used by operating activities	(25,440)	(9,995)
Cash Flows from Investing Activities
Purchases of property and equipment	(12,617)	(1,020)
Purchase of marketable securities	(75,885)
Purchases of intangible assets	(381)	(40)
Net cash and cash equivalents used by investing activities	(88,883)	(1,060)
Cash Flows from Financing Activities
Proceeds from debt	960	923
Proceeds from issuance of Series B preferred stock	135,579
Preferred Stock Issuance Costs	(4,511)
Payments of debt	(3,557)	(676)
Proceeds from issuance of convertible note payable	4,875	5,125
Proceeds from exercise of Common Stock options	106	23
Proceeds from exercise of Common Stock warrants	15
Business Combination, net of transaction costs	495,370
Redemption of preferred stock	(6,041)
Net cash and cash equivalents provided by financing activities	622,796	5,395
Net Increase (Decrease) in Cash and Cash Equivalents	508,473	(5,660)
Cash and Cash Equivalents - Beginning of year	4,974	10,634
Cash and Cash Equivalents - End of year	513,447	4,974
Supplemental Cash Flow Information
Supplemental Cash Flow Information - Cash paid for interest	144	351
Supplemental Cash Flow Information - (Gain) on extinguishment of PPP loan		$ (923)
Supplemental Cash Flow Information - Net Assets acquired in Business Combination	$ (100,697)

Nature of Business

Nature of Business	12 Months Ended
	Dec. 31, 2021
Nature of Business
Nature of Business	Note 1 – Nature of Business Solid Power, Inc. (the “Company”), headquartered in Louisville, Colorado, is developing all-solid-state battery cell technology primarily for the electric vehicle market. The Company's planned business model is to license its all-solid-state battery cell designs and manufacturing know-how to top tier battery manufacturers or automotive original equipment manufacturers and to sell its sulfide-based solid electrolyte for incorporation into all-solid-state battery cells. As of December 31, 2021, and 2020, the Company has not derived material revenue from its principal business activities. On December 8, 2021 (the “Closing Date”), the Company (f/k/a Decarbonization Plus Acquisition Corporation III (“DCRC”)) consummated its previously announced business combination pursuant to the Business Combination Agreement and Plan of Reorganization, dated June 15, 2021 (as amended, the “Business Combination Agreement”), among the Company, DCRC Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of DCRC (“Merger Sub”), and Solid Power Operating, Inc., a Colorado corporation (f/k/a Solid Power, Inc., “Legacy Solid Power”). Pursuant to the terms of the Business Combination Agreement, Merger Sub merged with and into Legacy Solid Power, with Legacy Solid Power surviving the merger as a wholly owned subsidiary of the Company (the “Merger” and, together with the other transactions contemplated by the Business Combination Agreement, the “Business Combination”). See Notes 2 and 3.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Significant Accounting Policies	Note 2 – Significant Accounting Policies Basis of Presentation and Principles of Consolidation The Consolidated Financial Statements of the Company have been prepared on the basis of generally accepted accounting principles in the United States (“GAAP”). The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements. Actual results could differ from those estimates. All amounts presented in the footnotes are in thousands, except share and per share amounts. Pursuant to the Business Combination Agreement, the merger between Merger Sub and Legacy Solid Power was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, DCRC was treated as the “acquired” company and Legacy Solid Power is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of Legacy Solid Power issuing stock for the net assets of DCRC, accompanied by a recapitalization. The net assets of DCRC are stated at historical cost, with no goodwill or other intangible assets recorded. The consolidated assets, liabilities, and results of operations prior to the Reverse Recapitalization are those of Legacy Solid Power. The shares and corresponding capital amounts and losses per share, prior to the Business Combination, have been retroactively restated based on the Exchange Ratio (defined below). The Consolidated Financial Statements include accounts of the Company and its wholly owned subsidiary, Solid Power Operating, Inc. All intercompany balances and transactions have been eliminated in consolidation. The accompanying Consolidated Financial Statements have been prepared assuming that the Company will continue as a going concern. Segment Reporting The Company’s Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. The Company has determined that it operates in one operating segment and one reportable segment, as the CODM reviews financial information presented as a single entity for purposes of making operating decisions, allocating resources, and evaluating financial performance. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of expenses during the reporting periods. Estimates made by the Company include, but are not limited to, those related to the valuation of common stock prior to the Business Combination, valuation of stock warrants, and useful lives of long-term assets, among others. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2021 and periodically throughout the year, the Company's cash accounts exceeded federally insured limits. Marketable Securities The Company’s investment policy is consistent with the definition of available-for-sale securities. The Company does not buy and hold securities principally for the purpose of selling them in the near future. The Company’s policy is focused on the preservation of capital, liquidity, and return. From time to time, the Company may sell certain securities, but the objectives are generally not to generate profits on short-term differences in price. These securities are carried at estimated fair value with unrealized holding gains and losses included in other comprehensive loss in stockholders’ deficit until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned. Contract Receivables Contract receivables consist of amounts due from government entities and commercial contractors. Included within contract receivables are amounts for work performed but not billed of $310 and $224 as of December 31, 2021 and 2020, respectively. Management considers all contract receivables collectible, and therefore, an allowance for doubtful accounts has not been recorded at December 31, 2021 and 2020. Credit Risk and Major Customers The Company grants credit in the normal course of business to government entities and commercial contractors in the United States. The Company periodically performs credit analyses and monitors the financial condition of its customers to reduce credit risk. The Company performs ongoing credit evaluations of its customers, but generally does not require collateral to support contract receivables. During the year ended December 31, 2021, four customers accounted for 87% percent of total revenue. Two customers accounted for 58% of total contract receivables at December 31, 2021. During the year ended December 31, 2020, three customers accounted for 81% percent of total revenue. One customer accounted for 18% percent of total contract receivables at December 31, 2020. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist primarily of security deposits, prepaid Directors and Officers insurance and other minor miscellaneous expenses paid in advance. Property and Equipment Property and equipment are recorded at cost. The Company capitalizes property and equipment with useful lives exceeding one year. Assets are depreciated over their estimated useful lives. The straight-line method is used for computing depreciation and amortization. Depreciation and amortization expenses are recorded within the Direct costs and Research and development line items in the Consolidated Statements of Operations. Cost of maintenance and repairs are charged to expense when incurred. Construction in progress related to specialized equipment will be reclassified as Property and equipment and depreciated, once placed in service. ​ ​ ​ ​ ​ Depreciable Life - Years Commercial production equipment ​ 5 years Laboratory equipment ​ 5 years Furniture and fixtures 5-7 years Computer equipment 3-5 years Leasehold improvements Lesser of asset life or lease term ​ Intangible Assets Intangible assets consist of licenses and costs incurred for pending patents and pending trademarks. Licenses consist of rights to use patents and are amortized over their estimated useful life of 3 to 20 years. Patent and trademark costs are amortized over an estimated useful life upon award by the United States Patent and Trademark Office or expensed if the Company is unsuccessful in securing an issued patent. Intangible assets that are subject to amortization are reviewed for potential impairment whenever events or circumstances indicate that carrying amounts may not be recoverable. Assets not subject to amortization are tested for impairment if events or circumstances indicate an impairment may have occurred at least annually. Deferred Rent The Company has entered into operating lease agreements for its corporate office and production facility, which contain provisions for future rent increases or periods in which rent payments are reduced. The Company records monthly rent expense equal to the total of the payments due over the lease term, divided by the number of months of the lease term. The difference between rent expense recorded and the amount paid is credited or charged to deferred rent, which is reflected in Other Long-term Liabilities in the accompanying Consolidated Balance Sheets. Deferred rent also includes the unamortized portion of landlord-financed tenant improvement allowances, which are amortized on a straight-line basis over the lease term as a reduction in rent expense. Stock-based Compensation The Company recognizes expenses for employee services received in exchange for stock-based compensation based on the grant date fair value of the awards. The determination of the estimated fair value of stock-based payment awards on the date of grant using the Black-Scholes option-pricing model is affected by the Company’s stock price, as well as assumptions regarding risk-free rate, dividend yield, and the historical volatility of comparable entities. Stock-based compensation is recorded as an expense only for those awards that are expected to vest. Compensation cost is recognized on a straight-line basis over the requisite vesting service period and is allocated ratably within Operating Expenses in the Consolidated Statements of Operations. Revenue The Company records the elements of its joint development agreements that represent joint operating activities in accordance with Accounting Standards Codification (ASC) Topic 808, Collaborative Arrangements. Accordingly, the elements of the joint development agreements that represent activities in which both parties are active participants and to which both parties are exposed to the significant risks and rewards that are dependent on the commercial success of the activities are recorded as collaborative arrangements. The Company considers the guidance in ASC 606-10-15, Revenue from Contracts with Customers – Scope and Scope Exceptions, in determining the appropriate treatment for the transactions between the Company and its partners and the transactions between the Company and third parties. Generally, the classification of transactions under the joint development agreements is determined based on the nature and contractual terms of the arrangement along with the nature of the operations of the participants. The Company recognizes collaborative revenue from cost contracts on the basis of costs incurred during the period and cost plus fixed-fee contracts on the basis of costs incurred during the period plus the fee earned. Contract costs include all direct labor, subcontract, material, and indirect costs related to the contract performance that are allowable under contract provisions. Unbilled receivables are included in contract receivables and represent revenue recognized for which billings have not yet been presented to customers. Deferred revenue represents billings in advance of revenue recognized. Deferred revenue as of December 31, 2021 and 2020 was $500 and $38, respectively. Beneficial Conversion Feature and Embedded Derivatives The beneficial conversion feature (the “BCF”) of a convertible note is normally characterized as the convertible portion or feature of certain notes payable that provide a rate of conversion that is below market value or in-the-money when issued. For convertible debt where the rate of conversion is below market value, the Company records a BCF and related debt discount. When Legacy Solid Power recorded a BCF, the intrinsic value of the BCF was recorded in equity to Additional paid-in capital and the difference between the debt proceeds and the BCF was a debt discount against the face amount of the respective debt instrument and amortized to interest expense over the life of the debt. A separate embedded derivative was recognized as a derivative liability that was subsequently adjusted to fair value at each Consolidated Balance Sheet date. Embedded derivatives that are required to be bifurcated from the underlying debt instrument (i.e., host) are accounted for and valued as separate financial instruments. Legacy Solid Power evaluated the terms and features of its 2020 convertible promissory notes (as defined below) and identified embedded derivatives requiring bifurcation and accounting at fair value, using the valuation techniques mentioned in the Fair Value Measurements section of this Note, because the economic and contractual characteristics of the embedded derivatives met the criteria for bifurcation and separate accounting due to the instruments containing mandatory redemption features that were not clearly and closely related to the debt host instrument. Warrant Liabilities The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480 and ASC 815. Warrants recorded as equity are recorded at their relative fair value determined at the issuance date and remeasurement is not required. Warrants recorded as liabilities are recorded at their fair value, within Warrant Liabilities on the Consolidated Balance Sheets and are remeasured on each reporting date with changes recorded in Change in fair value of warrant liabilities on the Company's Consolidated Statements of Operations. Fair Value Measurements The Company applies fair value accounting for selected financial assets and liabilities measured on a recurring and nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance ASC Topic 820 Fair Value Measurement established a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, used to determine the fair value of its financial instruments. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Level 1 – inputs include quoted market prices in an active market for identical assets or liabilities. Level 2 – inputs are market data, other than Level 1, that are observable either directly or indirectly. Level 2 inputs include quoted market prices for similar assets or liabilities, quoted market prices in an inactive market, and other observable information that can be corroborated by market data. Level 3 – inputs are unobservable and corroborated by little or no market data. See Note 8- Fair Value Measurement for information about the assumptions that the Company used to measure the fair value for the respective financial assets and liabilities. Research and development Research and development expenditures of approximately $17,102 and $9,594 in 2021 and 2020, respectively, were charged to expense as incurred. Income Taxes The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the Consolidated Financial Statements or tax returns. Deferred tax liabilities and assets are determined based on the differences between the Consolidated Financial Statements and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that are not expected to be realized based on available evidence. The Company records deferred tax assets and associated valuation allowances, when appropriate, to reflect amounts more likely than not to be realized based upon Company analysis. Please refer to Note 17 – Income Taxes for additional disclosure. The Company's temporary differences result primarily from accruals and reserves, depreciation of property and equipment, stock compensation, deferred rent, and net operating loss (NOL) carryovers. The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized in the Consolidated Financial Statements from such a position based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate resolution. After evaluating the tax positions taken, none are considered to be uncertain as of December 31, 2021 and 2020. Interest and penalties associated with tax positions are recorded in the period assessed as General and administrative on the Consolidated Statement of Operations. No interest or penalties have been assessed during the years ended December 31, 2021 and 2020. Net Earnings (Loss) per Share of Common Stock Basic net earnings (loss) per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share adjusts basic earnings per share for the potentially dilutive impact of stock options and warrants. As the Company has reported net income in 2021, diluted earnings per share reflects any dilutive effect of stock options and warrants but as the Company reported a net loss in 2020, all potentially dilutive securities including options and warrants, are antidilutive and accordingly, basic net loss per share equals diluted loss per share. Mezzanine Equity In accordance with ASC 480, Legacy Solid Power’s Series A-1 Preferred Stock and Series B Preferred Stock (collectively, “Preferred Stock”) prior to the Business Combination were classified as mezzanine equity as the Preferred Stock included redemption features that were not solely within control of Legacy Solid Power. Immediately prior to the consummation of the Business Combination, 14,069,187 shares of Legacy Solid Power Series A-1 Preferred Stock and 8,777,812 shares of Legacy Solid Power Series B Preferred Stock, which represented all of the then-outstanding shares of Preferred Stock, converted to Legacy Solid Power common stock on a one-to-one basis. At the Closing (as defined below), such shares of Legacy Solid Power common stock were exchanged for shares of Solid Power Common Stock based on the Exchange Ratio. Upcoming Accounting Pronouncements Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), followed by other related ASUs that provided targeted improvements and additional practical expedient options (collectively “ASU 2016-02”). The new standard establishes a right-of-use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on the Consolidated Balance Sheet for all leases. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the Consolidated Statements of Operations. ASU 2016-02 was effective for fiscal years beginning after December 15, 2021. The standard is effective for the Company on January 1, 2022. The Company expects that this standard will have a material effect on its Consolidated Financial Statements. While the Company continues to assess all of the effects of adoption, the Company currently believes the most significant effects relate to (1) the recognition of new ROU assets and lease liabilities on its Consolidated Balance Sheet for its office and equipment operating leases; and (2) the requirement to provide significant new disclosures about its leasing activities. On adoption, the Company currently expects to recognize additional operating liabilities, with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This ASU changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. As the Company completed the Business Combination in late 2021, ASU 2016-13 will be effective for the Company starting fiscal years beginning January 1, 2022. The Company is currently assessing the impact of ASU 2016-13 on its Consolidated Financial Statements. The impact to the Company is expected to be immaterial. Income taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which aims to reduce complexity in accounting standards by improving certain areas of U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) without compromising information provided to users of financial statements. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the standard is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. As the Company completed the Business Combination in late 2021, ASU 2016-13 will be effective for the Company starting fiscal years beginning January 1, 2022. Early adoption is permitted. The Company is currently evaluating the impact, if any, that the updated standard will have on the consolidated financial statements.

Business Combination

Business Combination	12 Months Ended
	Dec. 31, 2021
Business Combination
Business Combination	Note 3 – Business Combination Legacy Solid Power was deemed the accounting acquirer in the Business Combination based on the analysis of the criteria outlined in ASC 805. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of Legacy Solid Power issuing stock for the net assets of DCRC, accompanied by a recapitalization. The net assets of DCRC are stated at historical cost, with no goodwill or other intangible assets recorded. Because Legacy Solid Power was deemed the accounting acquirer, the historical Consolidated Financial Statements of Legacy Solid Power became the historical Consolidated Financial Statements of the combined company. As a result, the Consolidated Financial Statements included in this report reflect (i) the historical operating results of Legacy Solid Power prior to the Business Combination; (ii) the combined results of the Company and Legacy Solid Power following the closing of the Business Combination (“Closing”); (iii) the assets and liabilities of Legacy Solid Power at their historical cost; and (iv) the Company’s equity structure for all periods presented as discussed below. In accordance with guidance applicable to the Business Combination, the equity structure has been restated in all comparative periods up to the Closing Date, to reflect the number of shares of the Company's Common Stock, $0.0001 par value per share issued to Legacy Solid Power’s stockholders in connection with the Business Combination. As such, the shares and corresponding capital amounts and earnings per share related to Legacy Solid Power redeemable convertible preferred stock and common stock prior to the Business Combination have been retroactively restated to reflect the Exchange Ratio. Activity within the Consolidated Statements of Stockholders' Equity for the issuances and repurchases of Legacy Solid Power's redeemable convertible preferred stock were also retroactively converted to Legacy Solid Power common stock. In connection with the Closing, and subject to the terms and conditions of the Business Combination Agreement, each outstanding share of Legacy Solid Power’s common stock (including shares of Legacy Solid Power common stock issued upon the conversion of each share of Legacy Solid Power’s Preferred Stock immediately prior to the Closing) was canceled and converted into the right to receive the number of shares of the Company’s Common Stock (as defined below) based on an Exchange Ratio equal to approximately 3.182 (the “Exchange Ratio”), and each outstanding Legacy Solid Power option issued under Legacy Solid Power’s 2014 Equity Incentive Plan (the “2014 Plan”) was converted into a Company option based on the Exchange Ratio applicable to shares of Legacy Solid Power common stock, each in accordance with the terms of the Business Combination Agreement. At the Closing, the Company issued an aggregate of 104,518,159 shares of Common Stock to the equity-holders of Legacy Solid Power and the Legacy Solid Power option-holders’ held options in the Company to receive an aggregate 34,407,949 shares of Common Stock, subject to payment of the applicable exercise price and, in certain circumstances, vesting obligations. Furthermore, in connection with the Business Combination, (i) all shares of DCRC’s Class A common stock prior to the Business Combination were re-designated as “Common Stock, par value $0.0001 per share” of the Company (“Common Stock”) and (ii) all 39,829 shares of DCRC’s Class B common stock were converted, on a one -for-one basis, into an equivalent number of shares of the Company’s Common Stock. On the Closing Date, a number of purchasers, purchased from DCRC an aggregate of 19,500,000 shares of the Company’s Common Stock, for a purchase price of $10.00 per share and an aggregate purchase price of $195,000 (the “PIPE Financing”), pursuant to separate subscription agreements (each, a “Subscription Agreement”) entered into on June 15, 2021 or October 27, 2021. Prior to the Closing, DCRC had $1,500 outstanding under working capital loans from Decarbonization Plus Acquisition Sponsor III LLC (the “Sponsor”), which, in connection with the Closing, the Sponsor elected to convert into warrants to purchase 1,000,000 shares of Common Stock at a price of $1.50 per share, which are included in the 7,666,667 Private Placement Warrants (as defined below). The following table reconciles the elements of the Business Combination to the Consolidated Statements of Cash Flows and the Consolidated Statements of Stockholders’ Equity for the year ended December 31, 2021: ​ ​ ​ ​ ​ ​ Business Combination Cash – DCRC trust and cash, net of redemptions ​ $ 347,914 Cash – PIPE Financing ​ 195,000 Cash – Sponsor Funds ​ 264 Non-cash net assets acquired from DCRC ​ (100,697) Less: transaction costs and advisory fees for Legacy Solid Power allocated to equity ​ (5,991) Less: transaction costs and advisory fees for DCRC ​ (41,897) Net Business Combination ​ $ 394,593 Add: non-cash net assets acquired from DCRC ​ 100,697 Add: accrued transaction costs and advisory fees ​ 80 Net cash contributions from Business Combination ​ $ 495,370 ​ Non-cash net assets acquired from DCRC include the fair value of acquired Common Stock warrants of ($101,253). ​ The following table sets forth the number of shares of Common Stock outstanding immediately following the consummation of the Business Combination: ​ ​ ​ ​ ​ Number of Shares DCRC Class A common stock outstanding prior to Business Combination 43,710,000 DCRC Class B common stock outstanding prior to Business Combination 40,000 Less: redemption of DCRC Class A common stock (210,171) Shares of Common Stock issued in PIPE Financing 19,500,000 Shares of Common Stock issued to Legacy Solid Power shareholders 104,518,159 Total shares of Common Stock outstanding immediately after Business Combination 167,557,988 ​

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property and Equipment
Property and Equipment	Note 4 – Property and Equipment Property and equipment are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Commercial production equipment ​ $ 9,139 ​ $ 6,198 Laboratory equipment ​ ​ 1,316 ​ ​ 1,306 Leasehold improvements ​ 4,674 ​ 4,662 Computer equipment ​ 416 ​ 181 Furniture and fixtures ​ 321 ​ 168 Construction in progress ​ 12,684 ​ 111 Total cost ​ 28,550 ​ 12,626 Accumulated depreciation ​ (6,468) ​ (4,145) Net property and equipment ​ $ 22,082 ​ $ 8,481 ​ Depreciation and amortization expense related to property and equipment for the years ended December 31, 2021 and 2020 was $2,351 and $2,066, respectively. Depreciation and amortization expenses are allocated ratably across operating expenses on the accompanying Consolidated Statements of Operations. Depreciation expenses for dedicated laboratory equipment and commercial production equipment are charged to Research and development; other depreciation and amortization expenses are included in the Company’s overhead and are allocated across operating expenses on the accompanying Consolidated Statements of Operations based on Company personnel costs incurred. ​ The Company is expanding its cell production capabilities through the construction of a second dry room and installation of a second cell-production line, which is expected to be able to produce larger format all-solid-state battery cells as part of the automotive qualification process. The Company expects to complete this construction in 2022. Construction in progress related to these efforts was $6,875 and $111 as of December 31, 2021 and December 31, 2020, respectively. ​ The Company is expanding its sulfide-based solid electrolyte production at a second location. Scaling this production will allow it to produce larger quantities of electrolyte material required to feed the cell-production line and continue research and development efforts. The Company expects to complete construction in late 2022. Construction in progress related to these efforts was $943 as of December 31, 2021. As of December 31, 2021, Construction in progress also contains $4,866 related to progress payments made to vendors for customized equipment, in connection with the expansions described above, that will be recorded as Property and Equipment upon being received and placed in service.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2021
Intangible Assets
Intangible Assets	Note 5 – Intangible Assets Intangible assets of the Company on December 31, 2021 and 2020 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ Gross Carrying ​ Accumulated ​ Gross Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Licenses ​ $ 149 ​ $ (42) ​ $ 147 ​ $ (33) Patents pending ​ 503 ​ — ​ 125 ​ — Trademarks ​ 9 ​ — ​ 9 ​ — Trademarks pending ​ — ​ — ​ — ​ — Total amortized intangible assets ​ $ 661 ​ $ (42) ​ $ 281 ​ $ (33) ​ Amortization expense for intangible assets totaled $9 for the years ended December 31, 2021 and 2020. Useful lives of intangible assets range from 3 to 20 years.

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2021
Long-term Debt
Long-term Debt	Note 6 – Long-term Debt ​ Long-term debt at December 31 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Various equipment notes payable to banks in monthly installments ranging from $1 to $2 , including interest at 6.255 percent to 12.18 percent maturing from April 2022 through December 2022. The notes are collateralized by the financed equipment and guaranteed by a stockholder of the Company. ​ $ 130 ​ $ 270 Note payable to a bank in monthly installments beginning on January 1, 2020 of $91 , plus interest at the greater of 6.00 percent per annum or the prime rate plus 1.00 percent through December 7, 2021, the date the note was settled. ​ — ​ 2,454 Total ​ 130 ​ 2,724 Less current portion ​ 120 ​ 1,235 Long-term portion ​ $ 10 ​ $ 1,489 ​ The balance of the above debt matures as follows: ​ ​ ​ ​ ​ Years Ending Amount 2022 ​ 120 2023 ​ 8 2024 ​ 2 Total ​ $ 130 ​ Note Payable ​ On December 7, 2021, prior to the Business Combination, the Company used available cash to pay off the outstanding balance and remaining fees of a note payable to a commercial bank. The Company was subject to certain restrictive covenants as of the years ended December 31, 2020 and remaining reporting periods in 2021 under the terms of the note payable. The note payable contained customary representations, warrants and covenants. As of December 31, 2020, the note payable required the Company to maintain an adjusted quick ratio at the last day of each month of not less than ​ Interest expense on long-term debt for 2021 and 2020 was $131 and $196, respectively.

Convertible Notes Payable

Convertible Notes Payable	12 Months Ended
	Dec. 31, 2021
Convertible Notes Payable
Convertible Notes Payable	Note 7 – Convertible Notes Payable ​ 2020 Convertible Promissory Notes ​ On December 10, 2020 and December 18, 2020, the Company issued unsecured convertible promissory notes to investors in the total principal amount of $5,125, and on February 4, 2021, and March 1, 2021, the Company issued additional unsecured convertible promissory notes to investors in the total principal amount of $4,875, as part of a single financing (collectively, the “2020 Notes"). The 2020 Notes accrued interest at eight percent per annum. The 2020 Notes were converted into 1,007,965 shares of Legacy Solid Power Series B Preferred Stock on May 5, 2021, in conjunction with the closing of the Legacy Solid Power Series B Preferred Stock (“Series B Financing”). The outstanding balance on the 2020 Notes, including accrued interest, was $10,228 when the 2020 Notes were converted to Legacy Solid Power Series B Preferred Stock. Interest expense for 2021 and 2020 was $210 and $15, respectively, for the 2020 Notes. The principal of the 2020 Notes was included in Additional paid-in capital and the fair value of the embedded derivative was recorded as a liability on the Legacy Solid Power’s Consolidated Balance Sheet. The fair value of the embedded derivative was $5,497. This balance was transferred, along with the accrued interest, to mezzanine equity upon conversion of the 2020 Notes to Series B Preferred Stock in conjunction with the Series B Financing. ​ 2020 Convertible Promissory Notes Embedded Derivative ​ The 2020 Notes contained the following embedded derivatives: (i) a share settled redemption upon Qualified Financing; (ii) share settled redemption upon De-SPAC and; (iii) share settled redemption at maturity. ​ Embedded derivatives are separated from the host contract and carried at fair value when: (a) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract; and (b) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument. The Company has concluded that certain embedded derivatives within the 2020 Notes meet these criteria and, as such, must be valued separate and apart from the 2020 convertible promissory notes as one embedded derivative and recorded at fair value each reporting period. ​ See Note 8 -Fair Value Measurement for information about the assumptions that the Company used to measure the fair value of the embedded derivative. ​ 2019 Convertible Promissory Notes ​ On December 4, 2019, the Company issued an unsecured convertible promissory note to an investor in the principal amount of $3,000 (the "2019 Note," and together with the 2020 Notes, the "Convertible Promissory Notes"). The 2019 Note accrued interest at 5 percent per annum. The 2019 Note converted into 254,899 shares of Legacy Solid Power Series B Preferred Stock, in conjunction with the Series B Financing. Upon this conversion, the 2019 Note converted to Series B Preferred Stock at a 30 percent discount. See Note 8 – Fair Value Measurement for information about the assumptions that the Company used to measure the fair value of the 2019 Note. At December 31, 2020, the outstanding balance on the 2019 Note was $3,612. For the years ended December 31, 2021 and 2020, interest expense of $53 and $150 was incurred related to the 2019 Note, respectively. ​ For all debt instruments, including any for which the Company has elected fair value accounting, the Company classifies interest that has been accrued during each period as Interest expense on the Consolidated Statements of Operations.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Measurements
Fair Value Measurements	Note 8 – Fair Value Measurements The Company considers all highly liquid instruments with original maturities of less than 90 days to be cash equivalents. As of December 31, 2021, there were no long term marketable securities. The carrying amounts of certain financial instruments, such as cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their relatively short maturities. The fair value of debt instruments for which the Company has not elected fair value accounting is based on the present value of expected future cash flows and assumptions about the then-current market interest rates as of the reporting period and the creditworthiness of the Company. The book values of the Company's long-term debt approximate fair value because interest rates charged are similar to other financial instruments with similar terms and maturities and the rates vary in accordance with a market index. Most of the Company’s debt is carried on the Consolidated Balance Sheets on a historical cost basis net of unamortized discounts and premiums because the Company has not elected the fair value option of accounting. Changes to the inputs used in these valuation models can have a significant impact on the estimated fair value of the Convertible Promissory Notes and the Company’s embedded derivatives. Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis ​ As discussed in Note 7, all Convertible Promissory Notes were converted to Legacy Solid Power Series B Preferred Stock in May 2021. As of December 31, 2021 and 2020, the Company’s financial liabilities measured and recorded at fair value on a recurring basis were classified within the fair value hierarchy as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ Level 1 Level 2 Level 3 Total Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Paper ​ $ 33,275 ​ $ — ​ $ — ​ $ 33,275 Corporate Bonds ​ $ 39,593 ​ $ — ​ $ — ​ $ 39,593 Government Bonds ​ $ 3,017 ​ $ — ​ $ — ​ $ 3,017 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 26,483 ​ $ — ​ $ — ​ $ 26,483 Private Warrants ​ $ — ​ $ 23,537 ​ $ — ​ $ 23,537 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ Level 1 Level 2 Level 3 Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 Convertible Promissory Notes Embedded Derivative ​ $ — ​ $ — ​ $ 2,817 ​ $ 2,817 2019 Convertible Promissory Notes ​ $ — ​ $ — ​ $ 3,612 ​ $ 3,612 ​ The fair value of the Company's marketable securities as of December 31, 2021 approximated original purchase price, as a result the Company deemed the fair value adjustment immaterial for reporting purposes. The Company had no marketable securities at December 31, 2020. ​ There were no transfers in and out of Level 3 fair value hierarchy during the years ended December 31, 2021 and 2020. Fair Value Methodology 2020 Notes Embedded Derivative The fair value of the 2020 Notes was estimated using the present value of probability weighted scenario analysis, considering the as-converted value and the downside protection. The embedded derivative is valued using a “with-and-without method,” where the value of the 2020 Notes, including the embedded derivative, is defined as the “with”, and the value of the 2020 Notes, excluding the embedded derivative, is defined as the “without.” This method estimates the value of the embedded derivative by comparing the difference in the values between the 2020 Notes with the embedded derivative and the value of the 2020 Notes, without the embedded derivative. The probability weighted scenario analysis requires the following inputs: (i) probability of qualified financing, maturity, and other contingent scenarios; (ii) equity value; (iii) conversion price; (iv) maturity date; (v) risk-free interest rate; and (vi) estimated volatility. The changes during the twelve months ended December 31, 2021 in the fair values of the embedded derivatives are primarily related to the change in the value of the conversion features and are reflected in the Consolidated Statements of Operations as “Loss from change in fair value of embedded derivative liability.” Fair Value of Debt - 2019 Note The 2019 Note was converted to Legacy Solid Power Series B Preferred Stock in May 2021. At December 31, 2020, the contractual outstanding principal of the 2019 Note was $3,000, and the fair value was $3,612. The fair value was estimated using the present value of probability weighted scenario analysis, considering the as-converted value and the downside protection. The probability weighted scenario analysis requires the following inputs: (i) probability of qualified financing, maturity and other contingent scenarios; (ii) equity value; (iii) conversion price; (iv) maturity date; (v) risk-free interest rate; and (vi) estimated volatility. Fair Value of Other Financial Instruments The following table provides the estimated fair value of financial instruments that are not recorded at fair value in the Consolidated Balance Sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ Principal Amount Fair Value APIC: ​ ​ 2020 Convertible Promissory Notes ​ $ 5,125 ​ $ 7,424 ​ The fair value of the 2020 Notes at December 31,2020 was estimated using the present value of probability weighted scenario analysis, considering the as-converted value and the downside protection and is classified as Level 3 in the fair value hierarchy. Fair Value of Stock ​ Warrants ​ The fair value of the Private Placement Warrants (defined below) have been estimated using a Black-Scholes model as of the Closing Date and subsequently as of the December 31, 2021 Consolidated Balance Sheet date. The fair value of the Public Warrants (defined below) has been measured based on the quoted price of such warrants on the Nasdaq Stock Market, a Level 1 input. The estimated fair value of the Private Placement Warrants is determined using Level 2 inputs. Inherent in a Black-Scholes model are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. Material increases (or decreases) in any of those inputs may result in a significantly higher (or lower) fair value measurement. The Company estimates the volatility of its Private Placement Warrants based on implied volatility from the Company's Public Warrants and from historical volatility of select peer company's common stock that matches the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The dividend yield is based on the historical rate, which the Company anticipates remaining at zero. Refer to Note 9 for additional details on the Company's warrant liabilities. ​ The following table provides quantitative information regarding Level 2 inputs used in the recurring valuation of the Private Placement Warrants as of their measurement dates: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 8, 2021 December 31, 2021 Exercise Price ​ $ 11.50 ​ $ 11.50 ​ Stock Price ​ $ 13.01 ​ $ 8.74 ​ Volatility ​ 48.4 % 48.9 % Term ​ 5 ​ 4.94 ​ Risk-free rate ​ 1.26 % 1.24 % ​ The following table provides a reconciliation of the Private Placement Warrants measured at fair value using Level 2 significant unobservable inputs (in thousands): ​ ​ ​ ​ ​ ​ 2021 December 8, 2021 ​ $ 6.07 Change in fair value ​ $ (3.00) December 31, 2021 ​ $ 3.07 ​

Common Stock Warrant Liabilitie

Common Stock Warrant Liabilities	12 Months Ended
	Dec. 31, 2021
Common Stock Warrant Liabilities
Common Stock Warrant Liabilities	Note 9 – Common Stock Warrant Liabilities At the Closing, the Company had outstanding 11,666,636 publicly traded warrants (“Public Warrants”) and 7,666,667 private placement warrants (the “Private Placement Warrants”). Each whole warrant (the Public Warrants and Private Placement Warrants, collectively, the “Warrants”) entitles the holder thereof to purchase to adjustment as described herein. Only whole Warrants are exercisable. The Warrants became exercisable on January 7, 2022 and will expire on December 8, 2026 or earlier upon redemption or liquidation. The Company may redeem the outstanding Warrants for cash (except as described herein with respect to the Private Placement Warrants) in whole and not in part, at a price of $0.01 per Warrant, upon a minimum of 30 days’ prior written notice of redemption, referred to as the 30-day redemption period; and if, and only if, the last sale price of the Company’s Common Stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations, and the like) for any 20 trading days within a 30-trading day period ending on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders. None of the Private Placement Warrants will be redeemable by the Company so long as they are held by the initial purchasers of the Private Placement Warrants or their permitted transferees. The Company may redeem the outstanding Warrants (described as a Make-Whole Exercise) (except as described above with respect to the Private Placement Warrants): ● in whole and not in part; ● at a price of $0.10 per Warrant, provided that holders will be able to exercise their Warrants on a cashless basis prior to redemption and receive that number of shares of Common Stock determined in part by the redemption date and the “fair market value” of the Common Stock except as otherwise below; ● upon a minimum of 30 days’ prior written notice of redemption; ● if, and only if, the last sale price of the Company’s Common Stock equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations, and the like) on the trading day prior to the date on which we send the notice of redemption to the warrant holders; and ● if the last sale price of the Company’s Common Stock on the trading day prior to the date on which the Company send the notice of redemption to the warrant holders is less than $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Warrants, as described above. The “fair market value” of the Company’s Common Stock means the average reported last sale price of the Company’s Common Stock for the 10 trading days immediately following the date on which the notice of redemption is sent to the holders of Warrants. The Company classifies the outstanding Public Warrants and Private Placement Warrants as Warrant Liabilities on the Consolidated Balance Sheet in accordance with the guidance contained in ASC 815-40. The Warrant Liabilities were initially measured at fair value upon Closing of the Business Combination for $101,253 and subsequently re-measured at December 31, 2021 for $50,020. The Public Warrants were allocated a portion of the proceeds from the issuance of the Units equal to its fair value. The Company recognized a gain in connection with changes in the fair value of warrant liabilities of $51,233 during the period from December 8, 2021 (the Closing) to December 31, 2021. ​

Mezzanine Equity

Mezzanine Equity	12 Months Ended
	Dec. 31, 2021
Mezzanine Equity
Mezzanine Equity	Note 10 – Mezzanine Equity ​ Immediately prior to the Closing and as of December 31, 2020, Legacy Solid Power had 14,069,187 and 14,404,018 shares of Series A-1 Preferred Stock Shares outstanding. Immediately prior to the Closing, Legacy Solid Power had shares of Series B Preferred Stock outstanding. Legacy Solid Power issued the Series B Preferred Stock in May 2021 in exchange for of cash and the conversion of the Convertible Promissory Notes as discussed in Note 7. See Note 11 for a discussion of warrants issued with the Legacy Solid Power Series B Preferred Stock. ​ Prior to the Business Combination, the Preferred Stock had a redemption feature, at the option of the holders of a majority of the outstanding Preferred Stock, any time after April 30, 2031. The Preferred Stock was redeemable for the greater of its original issue price, plus all declared but unpaid dividends thereon, or fair value. Since the Preferred Stock had redemption provisions that were not solely within control of Legacy Solid Power, the Preferred Stock was classified prior to the Business Combination as mezzanine equity on Legacy Solid Power’s Consolidated Balance Sheets. The amount recognized was the greater of the redemption value or fair value. ​ Immediately prior to the Business Combination, 14,069,187 shares of Legacy Solid Power Series A-1 Preferred Stock and 8,777,812 shares of Legacy Solid Power Series B Preferred Stock were converted into shares of Legacy Solid Power common stock on a one-to-one basis. At the Closing, those shares of Legacy Solid Power common stock were exchanged for Common Stock in accordance with the Exchange Ratio. ​

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity
Stockholders' Equity	Note 11 – Stockholders’ Equity ​ Common Stock ​ During the years ended December 31, 2021 and 2020, stock options were exercised for 1,160,930 and 1,097,370 shares of Common Stock, respectively. ​ Legacy Solid Power Warrants During 2015, Legacy Solid Power issued warrants to a third party in conjunction with a licensing agreement to purchase 276,000 shares of Legacy Solid Power common stock at an exercise price of $ 0.00001088 per share. Management determined that equity classification is appropriate for these warrants. Legacy Solid Power recognized expense totaling $ 18 on the date of the grant that has been included as a component of Additional paid-in capital within the Consolidated Statements of Stockholders' Equity. During 2020, Legacy Solid Power issued additional warrants to purchase 45,730 shares of common stock at an exercise price of $ 0.53 per share. Legacy Solid Power recognized expense totaling $ 16 on the date of the grant. ​ In May 2021, Legacy Solid Power issued warrants to purchase 1,755,557 shares of Legacy Solid Power common stock at an exercise price of $0.01 per share, in connection with the Series B Financing. These warrants were detachable from the Legacy Solid Power Series B Preferred Stock and in all cases would physically settle or net share settle. Therefore, Legacy Solid Power determined that these warrants represented equity in Legacy Solid Power. Prior to the Closing, all Legacy Solid Power warrants were either exercised for cash or net exercised and the holders thereof received shares of Legacy Solid Power common stock.

Stock Based Compensation

Stock Based Compensation	12 Months Ended
	Dec. 31, 2021
Stock Based Compensation
Stock Based Compensation	Note 12 – Stock Based Compensation The fair value of stock options and other equity-based compensation issued to employees is recognized as compensation expense over the period of service that generally coincides with the vesting period of the award. The Company recognized compensation costs totaling $2,714 and $182 for the years ended December 31, 2021 and 2020, respectively, which are allocated ratably across Operating Expenses within the accompanying Consolidated Statements of Operations. At December 31, 2021, the Company had 34,407,949 shares of Common Stock underlying stock options outstanding under the 2014 Plan. Options granted under the 2014 Plan generally had a ten-year term and vest as to 1/4 On December 8, 2021 and in connection with the Closing, the Company adopted the Solid Power, Inc. 2021 Equity Incentive Plan (the “2021 Plan”). As of December 31, 2021, the 2021 Plan permitted the Company to grant up to 18,900,000 shares of Common Stock to its employees, directors, and consultants, as designated by the board of directors. Awards may be issued in the form of stock options, stock appreciation rights, restricted stock, and restricted stock units. The Company believes that such awards better align the interests of its employees with those of its stockholders. At December 31, 2021, no awards had been granted under the 2021 Plan. The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model that uses the weighted-average assumptions noted in the following table. Expected volatilities are based on historical volatility of comparable companies. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. When calculating the amount of annual compensation expense, the Company has elected not to estimate forfeitures and instead accounts for forfeitures as they occur. ​ The fair value of each option grant during the years ended December 31, 2021 and 2020 was estimated on the grant date using the Black - - ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Approximate risk-free rate ​ 1.04 % ​ 1.29 % Volatility ​ 41.45 % ​ 43.92 % Average expected life (years) ​ 6 years ​ 6 years Dividend yield ​ 0 % ​ 0 % Weighted-average grant date fair value ​ $ 5.1 ​ $ 0.84 ​ Estimated fair value of total options granted ​ $ 25,353 ​ $ 246 ​ ​ A summary of option activity under the 2014 Plan for the years ended December 31, 2021 and 2020 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average ​ ​ ​ ​ ​ ​ Remaining ​ ​ Number of ​ Weighted-average ​ Contractual Term Options Shares Exercise Price (in years) Outstanding at January 1, 2020 23,020,981 0.06 7.06 Granted 1,719,754 0.16 Exercised (1,097,370) 0.02 Forfeited or expired (167,381) 0.15 Outstanding at December 31, 2020 23,475,984 0.06 6.53 ​ ​ ​ ​ ​ ​ ​ Outstanding at January 1, 2021 ​ 23,475,984 ​ 0.06 ​ 6.53 Granted 12,285,359 5.10 ​ Exercised ​ (1,160,930) ​ 0.09 ​ ​ Forfeited or expired (192,464) 0.84 ​ Outstanding at December 31, 2021 ​ 34,407,949 ​ 1.86 ​ 6.98 Exercisable at December 31, 2020 ​ 18,023,695 ​ 0.04 ​ 5.96 Exercisable at December 31, 2021 19,603,474 0.05 5.21 ​ Cash received from options exercised under the 2014 Plan for December 31, 2021 and 2020 was $106 and $23, respectively. Future compensation costs related to the unvested portion of stock options at December 31, 2021 and 2020 was $23,307 and $593, respectively. 2021 Employee Stock Purchase Plan The 2021 Employee Stock Purchase Plan (“2021 ESPP”) originated with 3,778,000 shares of Common Stock available for issuance. As of December 31, 2021, 3,778,000 shares remained available for issuance. Beginning on January 1, 2022, the number of shares of Common Stock available for issuance under the 2021 ESPP shall increase by an amount equal to the lesser of (i) 3,778,000 shares of Common Stock (ii) one percent (1%) of the total number of shares of Common Stock outstanding on the last day of the immediately preceding fiscal year or (iii) a number of shares of Common Stock determined by the Administrator no later than the last day of the immediately preceding fiscal year The 2021 ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. Substantially all employees are eligible to participate and, through payroll deductions, can purchase shares on dates determined by the administrator. However, with respect to the Section 423 Component, an employee may not be granted rights to purchase stock under the ESPP if the employee, immediately after the grant, would own (directly or through attribution) stock possessing

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share
Earnings Per Share	Note 13 – Earnings Per Share The table below reconciles basic weighted average common shares outstanding to diluted weighted average shares outstanding for December 31, 2021 and 2020. Basic earnings per share is based on the weighted average number of common shares outstanding for the period. Diluted earnings per share also includes the dilutive effect of additional potential common shares issuable from stock-based awards and are determined using the treasury stock method. Basic earnings per share represents net earnings or loss attributable to Common Stock divided by the basic weighted average number of common shares outstanding during the period. Diluted earnings per share represents net earnings divided by diluted weighted average number of common shares, which includes the average dilutive effect of all potentially dilutive securities that are outstanding during the period. The unvested stock awards, warrants, and options are included in the number of shares outstanding for diluted earnings per share calculations, unless a net loss is reported, in which situation unvested stock awards, warrants, and options are excluded from the number of shares outstanding for diluted earnings per share calculations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2021 2020 ​ ​ ​ ​ ​ ​ ​ Net Income (loss) ​ $ 18,092 ​ $ (14,375) Premium paid on repurchase of redeemable convertible preferred stock ​ ​ (5,436) ​ ​ — Net income (loss) attributable to common stockholders ​ $ 12,656 ​ $ (14,375) Weighted average shares outstanding - basic ​ 95,477,472 ​ 69,228,444 Weighted average shares outstanding – diluted ​ 114,910,129 ​ ​ 69,228,444 ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share ​ $ 0.13 ​ $ (0.21) Diluted earnings (loss) per share ​ $ 0.11 ​ $ (0.21) ​ Due to the net loss to common stockholders in 2020 presented above, diluted loss per share was computed without consideration of potentially dilutive instruments as their inclusion would have been anti-dilutive. Warrants outstanding in 2021 were not included in the computation of diluted earnings per share because the warrant’s exercise price for the period was greater than the average market price of the common shares. As of December 31, 2021 and 2020, potentially dilutive securities excluded from the diluted earnings (loss) per share calculation are as follows: ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ ​ ​ ​ Warrant Common Stock 19,333,303 1,023,745 2014 Equity Incentive Plan — 23,476,182 Total potentially dilutive securities 19,333,303 24,499,927 ​

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2021
Operating Leases
Operating Leases	Note 14 – Operating Leases ​ The Company leases office space under a noncancelable operating lease with a maturity date in September 2024. The lease requires the Company to pay certain taxes, insurance, utilities, and maintenance costs. In 2019, the Company amended the lease, agreeing to sublease additional space in the building, which sublease expires in December 2024. In connection with this operating lease, the Company was granted an allowance for tenant improvements as a lease incentive. Deferred lease incentive is included in Other Long-term Liabilities on the Consolidated Balance Sheets and is being amortized on a straight-line basis over the term of the lease ending in September 2024. Deferred lease incentive totaled $179 and $246 as of December 31, 2021, and December 31, 2020, respectively. ​ On September 1, 2021, the Company entered into an Industrial Lease Agreement with the initial term through March 31, 2029 and which contains one option to renew for five years. The Company is responsible for its proportionate share of common area maintenance, taxes, and insurance. Total rent expense under these leases was $661 and $415 for years ended December 31, 2021 and 2020, respectively, and are charged to Operating Expenses based on personnel costs incurred in the accompanying Consolidated Statements of Operations. Future minimum annual commitments under these operating leases are as follows: ​ ​ ​ ​ ​ Years Ending December 31 Amount 2022 ​ $ 914 2023 ​ 1,125 2024 ​ 1,062 2025 ​ 779 Thereafter ​ 2,699 Total ​ $ 6,579 ​

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions
Related Party Transactions	Note 15 – Related Party Transactions During 2020, the Company entered into a subcontractor agreement with Roccor, LLC, which was a related party until October 30, 2020. Under the subcontractor agreement, the Company provided technical support to Roccor on a government research contract. The total value of the subcontract is to the Company. The period of performance commenced during 2020 and extended to late 2021. Related party revenue from Roccor was ​

Retirement plans

Retirement plans	12 Months Ended
	Dec. 31, 2021
Retirement Plans
Retirement Plans	Note 16 – Retirement Plans ​ The Company sponsors a 401(k) plan for all employees. The plan provides for the Company to make a discretionary matching contribution. Contributions to the plan totaled $352 and $226 for the years ended December 31, 2021 and 2020, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Taxes
Income Taxes	Note 17 – Income Taxes The Company provides deferred U.S. federal, state, or foreign income tax benefits for all of the periods presented. The Company has also provided a valuation allowance on the net deferred tax asset because of uncertainty regarding its realizability. Realization of deferred tax assets is dependent on generating sufficient taxable income prior to the expiration of loss carryforwards. ​ Deferred tax assets and liabilities arise primarily from net operating loss carryforwards and temporary differences arising from the amortization of intangible assets, depreciation on property and equipment, and various accrued liabilities. ​ Income taxes included in the Consolidated Statements of Operations at December 31, 2021 and 2020 are detailed below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Current income tax (benefit)/expense: ​ ​ ​ ​ ​ ​ Federal $ — $ — State ​ — ​ — Deferred income tax (benefit)/expense: ​ ​ Federal ​ (22) ​ 96 State ​ (3) ​ 22 Total income tax (benefit)/expense ​ (25) ​ 118 ​ The tables below represent a reconciliation of the statutory federal income tax expense to income tax: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Income tax expense at the federal statutory rate ​ ​ 21.00 % 21.00 % State income benefits ​ (5.97) % 2.96 % Permanent Differences ​ 0.25 % 1.08 % Permanent Differences – Related to Convertible Debt ​ 0.31 % (5.04) % Permanent Differences – Fair Value Adjustments ​ ​ (56.44) % 0.00 % Prior year provision to return ​ (0.03) % (0.03) % Net change in valuation allowance ​ 40.73 % (20.81) % Other ​ ​ 0.01 % 0.00 % Total income tax (benefit) ​ (0.14) % (0.84) % ​ For the years ended December 31, 2021 and 2020, the effective tax rate was approximately (0.14%) and (0.84%), respectively. Differences between the statutory rate and the Company's effective tax rate resulted from changes in valuation allowance and permanent differences for tax purposes in the treatment of certain nondeductible expenses. ​ The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and liabilities are presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Deferred tax assets: ​ ​ Net operating loss ​ $ 15,591 ​ $ 7,349 Stock compensation ​ ​ 417 ​ ​ 1 Other ​ 49 ​ 19 Total income tax expense (benefit) ​ 16,057 ​ 7,369 Valuation allowance ​ (14,536) ​ (6,190) Net deferred tax assets: ​ 1,521 ​ 1,179 Deferred tax liabilities: ​ ​ Intangibles (non-goodwill) ​ $ — ​ $ (2) Property and equipment ​ (1,747) ​ (1,429) Total deferred tax liabilities ​ (1,747) ​ (1,431) Total net deferred tax liability ​ $ (226) ​ $ (252) ​ The ultimate realization of deferred tax assets is dependent upon the existence, or generation, of taxable income in the periods when those temporary differences and net operating loss carryovers are deductible. Management considers the scheduled reversal of deferred tax liabilities, taxes paid in carryover years, projected future taxable income, available tax planning strategies, and other factors in making this assessment. Based on available evidence, management does not believe it is more likely than not that all of the deferred tax assets will be realized. Accordingly, the Company has established a valuation allowance equal to the net realizable deferred tax assets. The valuation allowance increased by $8,347 in 2021. ​ At December 31, 2021 and 2020, the Company had total domestic Federal net operating loss carryovers of approximately $63,391 and $29,836, respectively. Federal net operating losses generated prior to 2018 expire in 2037. Federal net operating losses generated after 2017 have an indefinite carryforward and are only available to offset 80% taxable income beginning in 2021. The determination of state NOL carryforwards is dependent upon apportionment percentages and state laws that can change from year to year and that can thereby impact the amount of such carryforwards. The majority of the state NOLs have an indefinite carryforward. ​ Accounting for uncertainty in income taxes is based on a recognition threshold and measurement attribute for the Consolidated Financial Statements recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company recognizes in its Consolidated Financial Statements only those tax positions that are more-likely-than-not to be sustained as of the adoption date, based on the technical merits of the position. Each year the Company performs a comprehensive review of its material tax positions. Our policy is to recognize interest and penalties related to uncertain tax benefits in income tax expense. ​ As the Company had no uncertain tax benefits during 2021 and 2020, there was no accrued interest or penalties related to uncertain tax positions. ​ The 2017 through 2020 tax years remain open to examination by the Internal Revenue Service and, with few exceptions, various other state tax agencies. These taxing authorities have the authority to examine those tax years until the applicable statutes of limitations expire. ​ On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provided for an increased interest deduction for tax years 2019 and 2020, as well as the deferral of the employer portion of social security taxes.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2021
Contingencies
Contingencies	Note 18 – Contingencies ​ In the normal course of business, the Company may be party to litigation from time to time. The Company maintains insurance to cover certain actions and believes that resolution of such litigation will not have a material adverse effect on the Company. DCRC, the predecessor to the Company, received a demand letter dated August 31, 2021 from counsel purporting to represent a shareholder of DCRC alleging that the proposed vote on the Authorized Share Charter Proposal (“Proposal”) for the proposed business combination with Legacy Solid Power violated Section 242(b)(2) of the Delaware General Corporation law and demanded that DCRC provide DCRC’s Class A stockholders with a separate class vote on the Proposal. DCRC subsequently provided for the Class A stockholders to have a separate class vote on the Proposal share increase. The Proposal was approved and the Business Combination closed. The counsel who issued this demand letter made a fee demand (the “Fee Demand”) for prompting the change in the Proposal. The Company accrued a liability of $500 on its Consolidated Balance Sheets as of December 31, 2021 in anticipation of settling the Fee Demand. On March 10, 2022, the Company settled the Fee Demand for an amount that is materially consistent with our accrual.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2021
Going Concern
Going Concern	Note 19 – Going Concern ​ The accompanying Consolidated Financial Statements have been prepared assuming that the Company will continue as a going concern. The Company has incurred negative cash flows from operations for several years and had an accumulated deficit of $9,535 as of December 31, 2021. As the Company pursues its business plan, it expects to continue to incur negative cash flows until the mid-2020s when it expects its products are able to be commercialized and the Company begins generating significant revenues from operations. ​ Based on cash on hand at December 31, 2021, management believes the Company has sufficient capital to execute its strategic plan and fund operations through at least the next 12 months from the date these Consolidated Financial Statements are issued.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The Consolidated Financial Statements of the Company have been prepared on the basis of generally accepted accounting principles in the United States (“GAAP”). The preparation of Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements. Actual results could differ from those estimates. All amounts presented in the footnotes are in thousands, except share and per share amounts. Pursuant to the Business Combination Agreement, the merger between Merger Sub and Legacy Solid Power was accounted for as a reverse recapitalization in accordance with U.S. GAAP (the “Reverse Recapitalization”). Under this method of accounting, DCRC was treated as the “acquired” company and Legacy Solid Power is treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the Reverse Recapitalization was treated as the equivalent of Legacy Solid Power issuing stock for the net assets of DCRC, accompanied by a recapitalization. The net assets of DCRC are stated at historical cost, with no goodwill or other intangible assets recorded. The consolidated assets, liabilities, and results of operations prior to the Reverse Recapitalization are those of Legacy Solid Power. The shares and corresponding capital amounts and losses per share, prior to the Business Combination, have been retroactively restated based on the Exchange Ratio (defined below). The Consolidated Financial Statements include accounts of the Company and its wholly owned subsidiary, Solid Power Operating, Inc. All intercompany balances and transactions have been eliminated in consolidation. The accompanying Consolidated Financial Statements have been prepared assuming that the Company will continue as a going concern.
Segment Reporting	Segment Reporting The Company’s Chief Operating Decision Maker (“CODM”) is its Chief Executive Officer. The Company has determined that it operates in one operating segment and one reportable segment, as the CODM reviews financial information presented as a single entity for purposes of making operating decisions, allocating resources, and evaluating financial performance.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the financial statements as well as reported amounts of expenses during the reporting periods. Estimates made by the Company include, but are not limited to, those related to the valuation of common stock prior to the Business Combination, valuation of stock warrants, and useful lives of long-term assets, among others. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. As of December 31, 2021 and periodically throughout the year, the Company's cash accounts exceeded federally insured limits.
Marketable Securities	Marketable Securities The Company’s investment policy is consistent with the definition of available-for-sale securities. The Company does not buy and hold securities principally for the purpose of selling them in the near future. The Company’s policy is focused on the preservation of capital, liquidity, and return. From time to time, the Company may sell certain securities, but the objectives are generally not to generate profits on short-term differences in price. These securities are carried at estimated fair value with unrealized holding gains and losses included in other comprehensive loss in stockholders’ deficit until realized. Gains and losses on marketable security transactions are reported on the specific-identification method. Dividend and interest income are recognized when earned.
Contract Receivables	Contract Receivables Contract receivables consist of amounts due from government entities and commercial contractors. Included within contract receivables are amounts for work performed but not billed of $310 and $224 as of December 31, 2021 and 2020, respectively. Management considers all contract receivables collectible, and therefore, an allowance for doubtful accounts has not been recorded at December 31, 2021 and 2020.
Credit Risk and Major Customers	Credit Risk and Major Customers The Company grants credit in the normal course of business to government entities and commercial contractors in the United States. The Company periodically performs credit analyses and monitors the financial condition of its customers to reduce credit risk. The Company performs ongoing credit evaluations of its customers, but generally does not require collateral to support contract receivables. During the year ended December 31, 2021, four customers accounted for 87% percent of total revenue. Two customers accounted for 58% of total contract receivables at December 31, 2021. During the year ended December 31, 2020, three customers accounted for 81% percent of total revenue. One customer accounted for 18% percent of total contract receivables at December 31, 2020.
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist primarily of security deposits, prepaid Directors and Officers insurance and other minor miscellaneous expenses paid in advance.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. The Company capitalizes property and equipment with useful lives exceeding one year. Assets are depreciated over their estimated useful lives. The straight-line method is used for computing depreciation and amortization. Depreciation and amortization expenses are recorded within the Direct costs and Research and development line items in the Consolidated Statements of Operations. Cost of maintenance and repairs are charged to expense when incurred. Construction in progress related to specialized equipment will be reclassified as Property and equipment and depreciated, once placed in service. ​ ​ ​ ​ ​ Depreciable Life - Years Commercial production equipment ​ 5 years Laboratory equipment ​ 5 years Furniture and fixtures 5-7 years Computer equipment 3-5 years Leasehold improvements Lesser of asset life or lease term
Intangible Assets	Intangible Assets Intangible assets consist of licenses and costs incurred for pending patents and pending trademarks. Licenses consist of rights to use patents and are amortized over their estimated useful life of 3 to 20 years. Patent and trademark costs are amortized over an estimated useful life upon award by the United States Patent and Trademark Office or expensed if the Company is unsuccessful in securing an issued patent. Intangible assets that are subject to amortization are reviewed for potential impairment whenever events or circumstances indicate that carrying amounts may not be recoverable. Assets not subject to amortization are tested for impairment if events or circumstances indicate an impairment may have occurred at least annually.
Deferred Rent	Deferred Rent The Company has entered into operating lease agreements for its corporate office and production facility, which contain provisions for future rent increases or periods in which rent payments are reduced. The Company records monthly rent expense equal to the total of the payments due over the lease term, divided by the number of months of the lease term. The difference between rent expense recorded and the amount paid is credited or charged to deferred rent, which is reflected in Other Long-term Liabilities in the accompanying Consolidated Balance Sheets. Deferred rent also includes the unamortized portion of landlord-financed tenant improvement allowances, which are amortized on a straight-line basis over the lease term as a reduction in rent expense.
Stock-based Compensation	Stock-based Compensation The Company recognizes expenses for employee services received in exchange for stock-based compensation based on the grant date fair value of the awards. The determination of the estimated fair value of stock-based payment awards on the date of grant using the Black-Scholes option-pricing model is affected by the Company’s stock price, as well as assumptions regarding risk-free rate, dividend yield, and the historical volatility of comparable entities. Stock-based compensation is recorded as an expense only for those awards that are expected to vest. Compensation cost is recognized on a straight-line basis over the requisite vesting service period and is allocated ratably within Operating Expenses in the Consolidated Statements of Operations.
Revenue	Revenue The Company records the elements of its joint development agreements that represent joint operating activities in accordance with Accounting Standards Codification (ASC) Topic 808, Collaborative Arrangements. Accordingly, the elements of the joint development agreements that represent activities in which both parties are active participants and to which both parties are exposed to the significant risks and rewards that are dependent on the commercial success of the activities are recorded as collaborative arrangements. The Company considers the guidance in ASC 606-10-15, Revenue from Contracts with Customers – Scope and Scope Exceptions, in determining the appropriate treatment for the transactions between the Company and its partners and the transactions between the Company and third parties. Generally, the classification of transactions under the joint development agreements is determined based on the nature and contractual terms of the arrangement along with the nature of the operations of the participants. The Company recognizes collaborative revenue from cost contracts on the basis of costs incurred during the period and cost plus fixed-fee contracts on the basis of costs incurred during the period plus the fee earned. Contract costs include all direct labor, subcontract, material, and indirect costs related to the contract performance that are allowable under contract provisions. Unbilled receivables are included in contract receivables and represent revenue recognized for which billings have not yet been presented to customers. Deferred revenue represents billings in advance of revenue recognized. Deferred revenue as of December 31, 2021 and 2020 was $500 and $38, respectively.
Beneficial Conversion Feature and Embedded Derivatives	Beneficial Conversion Feature and Embedded Derivatives The beneficial conversion feature (the “BCF”) of a convertible note is normally characterized as the convertible portion or feature of certain notes payable that provide a rate of conversion that is below market value or in-the-money when issued. For convertible debt where the rate of conversion is below market value, the Company records a BCF and related debt discount. When Legacy Solid Power recorded a BCF, the intrinsic value of the BCF was recorded in equity to Additional paid-in capital and the difference between the debt proceeds and the BCF was a debt discount against the face amount of the respective debt instrument and amortized to interest expense over the life of the debt. A separate embedded derivative was recognized as a derivative liability that was subsequently adjusted to fair value at each Consolidated Balance Sheet date. Embedded derivatives that are required to be bifurcated from the underlying debt instrument (i.e., host) are accounted for and valued as separate financial instruments. Legacy Solid Power evaluated the terms and features of its 2020 convertible promissory notes (as defined below) and identified embedded derivatives requiring bifurcation and accounting at fair value, using the valuation techniques mentioned in the Fair Value Measurements section of this Note, because the economic and contractual characteristics of the embedded derivatives met the criteria for bifurcation and separate accounting due to the instruments containing mandatory redemption features that were not clearly and closely related to the debt host instrument.
Warrant Liabilities	Warrant Liabilities The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480 and ASC 815. Warrants recorded as equity are recorded at their relative fair value determined at the issuance date and remeasurement is not required. Warrants recorded as liabilities are recorded at their fair value, within Warrant Liabilities on the Consolidated Balance Sheets and are remeasured on each reporting date with changes recorded in Change in fair value of warrant liabilities on the Company's Consolidated Statements of Operations.
Fair Value Measurements	Fair Value Measurements The Company applies fair value accounting for selected financial assets and liabilities measured on a recurring and nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The accounting guidance ASC Topic 820 Fair Value Measurement established a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, used to determine the fair value of its financial instruments. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Level 1 – inputs include quoted market prices in an active market for identical assets or liabilities. Level 2 – inputs are market data, other than Level 1, that are observable either directly or indirectly. Level 2 inputs include quoted market prices for similar assets or liabilities, quoted market prices in an inactive market, and other observable information that can be corroborated by market data. Level 3 – inputs are unobservable and corroborated by little or no market data. See Note 8- Fair Value Measurement for information about the assumptions that the Company used to measure the fair value for the respective financial assets and liabilities.
Research and development	Research and development Research and development expenditures of approximately $17,102 and $9,594 in 2021 and 2020, respectively, were charged to expense as incurred.
Income Taxes	Income Taxes The Company recognizes deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the Consolidated Financial Statements or tax returns. Deferred tax liabilities and assets are determined based on the differences between the Consolidated Financial Statements and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that are not expected to be realized based on available evidence. The Company records deferred tax assets and associated valuation allowances, when appropriate, to reflect amounts more likely than not to be realized based upon Company analysis. Please refer to Note 17 – Income Taxes for additional disclosure. The Company's temporary differences result primarily from accruals and reserves, depreciation of property and equipment, stock compensation, deferred rent, and net operating loss (NOL) carryovers. The Company accounts for any uncertainty in income taxes by recognizing the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized in the Consolidated Financial Statements from such a position based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate resolution. After evaluating the tax positions taken, none are considered to be uncertain as of December 31, 2021 and 2020. Interest and penalties associated with tax positions are recorded in the period assessed as General and administrative on the Consolidated Statement of Operations. No interest or penalties have been assessed during the years ended December 31, 2021 and 2020.
Net Earnings (Loss) per Share of Common Stock	Net Earnings (Loss) per Share of Common Stock Basic net earnings (loss) per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share adjusts basic earnings per share for the potentially dilutive impact of stock options and warrants. As the Company has reported net income in 2021, diluted earnings per share reflects any dilutive effect of stock options and warrants but as the Company reported a net loss in 2020, all potentially dilutive securities including options and warrants, are antidilutive and accordingly, basic net loss per share equals diluted loss per share.
Mezzanine Equity	Mezzanine Equity In accordance with ASC 480, Legacy Solid Power’s Series A-1 Preferred Stock and Series B Preferred Stock (collectively, “Preferred Stock”) prior to the Business Combination were classified as mezzanine equity as the Preferred Stock included redemption features that were not solely within control of Legacy Solid Power. Immediately prior to the consummation of the Business Combination, 14,069,187 shares of Legacy Solid Power Series A-1 Preferred Stock and 8,777,812 shares of Legacy Solid Power Series B Preferred Stock, which represented all of the then-outstanding shares of Preferred Stock, converted to Legacy Solid Power common stock on a one-to-one basis. At the Closing (as defined below), such shares of Legacy Solid Power common stock were exchanged for shares of Solid Power Common Stock based on the Exchange Ratio.
Upcoming Accounting Pronouncements	Upcoming Accounting Pronouncements Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), followed by other related ASUs that provided targeted improvements and additional practical expedient options (collectively “ASU 2016-02”). The new standard establishes a right-of-use (“ROU”) model that requires a lessee to recognize a ROU asset and lease liability on the Consolidated Balance Sheet for all leases. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the Consolidated Statements of Operations. ASU 2016-02 was effective for fiscal years beginning after December 15, 2021. The standard is effective for the Company on January 1, 2022. The Company expects that this standard will have a material effect on its Consolidated Financial Statements. While the Company continues to assess all of the effects of adoption, the Company currently believes the most significant effects relate to (1) the recognition of new ROU assets and lease liabilities on its Consolidated Balance Sheet for its office and equipment operating leases; and (2) the requirement to provide significant new disclosures about its leasing activities. On adoption, the Company currently expects to recognize additional operating liabilities, with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This ASU changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. As the Company completed the Business Combination in late 2021, ASU 2016-13 will be effective for the Company starting fiscal years beginning January 1, 2022. The Company is currently assessing the impact of ASU 2016-13 on its Consolidated Financial Statements. The impact to the Company is expected to be immaterial. Income taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which aims to reduce complexity in accounting standards by improving certain areas of U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) without compromising information provided to users of financial statements. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. For all other entities, the standard is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. As the Company completed the Business Combination in late 2021, ASU 2016-13 will be effective for the Company starting fiscal years beginning January 1, 2022. Early adoption is permitted. The Company is currently evaluating the impact, if any, that the updated standard will have on the consolidated financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Significant Accounting Policies
Summary of estimated useful life of property, plant and equipment	​ ​ ​ ​ ​ Depreciable Life - Years Commercial production equipment ​ 5 years Laboratory equipment ​ 5 years Furniture and fixtures 5-7 years Computer equipment 3-5 years Leasehold improvements Lesser of asset life or lease term

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination
Reconciliation of the business combination elements to the consolidated statements of cash flows and the consolidated statements of stockholders' equity	​ ​ ​ ​ ​ ​ Business Combination Cash – DCRC trust and cash, net of redemptions ​ $ 347,914 Cash – PIPE Financing ​ 195,000 Cash – Sponsor Funds ​ 264 Non-cash net assets acquired from DCRC ​ (100,697) Less: transaction costs and advisory fees for Legacy Solid Power allocated to equity ​ (5,991) Less: transaction costs and advisory fees for DCRC ​ (41,897) Net Business Combination ​ $ 394,593 Add: non-cash net assets acquired from DCRC ​ 100,697 Add: accrued transaction costs and advisory fees ​ 80 Net cash contributions from Business Combination ​ $ 495,370
Schedule of number of common shares outstanding following the consummation of the business combination	​ ​ ​ ​ ​ Number of Shares DCRC Class A common stock outstanding prior to Business Combination 43,710,000 DCRC Class B common stock outstanding prior to Business Combination 40,000 Less: redemption of DCRC Class A common stock (210,171) Shares of Common Stock issued in PIPE Financing 19,500,000 Shares of Common Stock issued to Legacy Solid Power shareholders 104,518,159 Total shares of Common Stock outstanding immediately after Business Combination 167,557,988

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property and Equipment
Summary of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Commercial production equipment ​ $ 9,139 ​ $ 6,198 Laboratory equipment ​ ​ 1,316 ​ ​ 1,306 Leasehold improvements ​ 4,674 ​ 4,662 Computer equipment ​ 416 ​ 181 Furniture and fixtures ​ 321 ​ 168 Construction in progress ​ 12,684 ​ 111 Total cost ​ 28,550 ​ 12,626 Accumulated depreciation ​ (6,468) ​ (4,145) Net property and equipment ​ $ 22,082 ​ $ 8,481

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Intangible Assets
Summary of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ Gross Carrying ​ Accumulated ​ Gross Carrying ​ Accumulated ​ Amount Amortization Amount Amortization Intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Licenses ​ $ 149 ​ $ (42) ​ $ 147 ​ $ (33) Patents pending ​ 503 ​ — ​ 125 ​ — Trademarks ​ 9 ​ — ​ 9 ​ — Trademarks pending ​ — ​ — ​ — ​ — Total amortized intangible assets ​ $ 661 ​ $ (42) ​ $ 281 ​ $ (33)

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Long-term Debt
Summary of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Various equipment notes payable to banks in monthly installments ranging from $1 to $2 , including interest at 6.255 percent to 12.18 percent maturing from April 2022 through December 2022. The notes are collateralized by the financed equipment and guaranteed by a stockholder of the Company. ​ $ 130 ​ $ 270 Note payable to a bank in monthly installments beginning on January 1, 2020 of $91 , plus interest at the greater of 6.00 percent per annum or the prime rate plus 1.00 percent through December 7, 2021, the date the note was settled. ​ — ​ 2,454 Total ​ 130 ​ 2,724 Less current portion ​ 120 ​ 1,235 Long-term portion ​ $ 10 ​ $ 1,489
Summary of balance of debt matures	​ ​ ​ ​ ​ Years Ending Amount 2022 ​ 120 2023 ​ 8 2024 ​ 2 Total ​ $ 130

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Measurements
Schedule of financial assets and liabilities measured and recorded at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 ​ Level 1 Level 2 Level 3 Total Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial Paper ​ $ 33,275 ​ $ — ​ $ — ​ $ 33,275 Corporate Bonds ​ $ 39,593 ​ $ — ​ $ — ​ $ 39,593 Government Bonds ​ $ 3,017 ​ $ — ​ $ — ​ $ 3,017 Liabilities ​ ​ ​ ​ ​ ​ ​ ​ Public Warrants ​ $ 26,483 ​ $ — ​ $ — ​ $ 26,483 Private Warrants ​ $ — ​ $ 23,537 ​ $ — ​ $ 23,537 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 ​ Level 1 Level 2 Level 3 Total Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 Convertible Promissory Notes Embedded Derivative ​ $ — ​ $ — ​ $ 2,817 ​ $ 2,817 2019 Convertible Promissory Notes ​ $ — ​ $ — ​ $ 3,612 ​ $ 3,612
Schedule of fair value of financial instruments that are not recorded at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ Principal Amount Fair Value APIC: ​ ​ 2020 Convertible Promissory Notes ​ $ 5,125 ​ $ 7,424
Schedule of Level 2 inputs used in the recurring valuation of the Private Placement Warrants	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 8, 2021 December 31, 2021 Exercise Price ​ $ 11.50 ​ $ 11.50 ​ Stock Price ​ $ 13.01 ​ $ 8.74 ​ Volatility ​ 48.4 % 48.9 % Term ​ 5 ​ 4.94 ​ Risk-free rate ​ 1.26 % 1.24 %
Schedule of reconciliation of the warrants measured at fair value	The following table provides a reconciliation of the Private Placement Warrants measured at fair value using Level 2 significant unobservable inputs (in thousands): ​ ​ ​ ​ ​ ​ 2021 December 8, 2021 ​ $ 6.07 Change in fair value ​ $ (3.00) December 31, 2021 ​ $ 3.07

Stock Based Compensation (Table

Stock Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Stock Based Compensation
Schedule of assumptions used in measuring fair value of options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Approximate risk-free rate ​ 1.04 % ​ 1.29 % Volatility ​ 41.45 % ​ 43.92 % Average expected life (years) ​ 6 years ​ 6 years Dividend yield ​ 0 % ​ 0 % Weighted-average grant date fair value ​ $ 5.1 ​ $ 0.84 ​ Estimated fair value of total options granted ​ $ 25,353 ​ $ 246 ​
Schedule of summary of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average ​ ​ ​ ​ ​ ​ Remaining ​ ​ Number of ​ Weighted-average ​ Contractual Term Options Shares Exercise Price (in years) Outstanding at January 1, 2020 23,020,981 0.06 7.06 Granted 1,719,754 0.16 Exercised (1,097,370) 0.02 Forfeited or expired (167,381) 0.15 Outstanding at December 31, 2020 23,475,984 0.06 6.53 ​ ​ ​ ​ ​ ​ ​ Outstanding at January 1, 2021 ​ 23,475,984 ​ 0.06 ​ 6.53 Granted 12,285,359 5.10 ​ Exercised ​ (1,160,930) ​ 0.09 ​ ​ Forfeited or expired (192,464) 0.84 ​ Outstanding at December 31, 2021 ​ 34,407,949 ​ 1.86 ​ 6.98 Exercisable at December 31, 2020 ​ 18,023,695 ​ 0.04 ​ 5.96 Exercisable at December 31, 2021 19,603,474 0.05 5.21 ​

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share
Schedule of reconciliation of basic weighted average common shares outstanding to diluted weighted average shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2021 2020 ​ ​ ​ ​ ​ ​ ​ Net Income (loss) ​ $ 18,092 ​ $ (14,375) Premium paid on repurchase of redeemable convertible preferred stock ​ ​ (5,436) ​ ​ — Net income (loss) attributable to common stockholders ​ $ 12,656 ​ $ (14,375) Weighted average shares outstanding - basic ​ 95,477,472 ​ 69,228,444 Weighted average shares outstanding – diluted ​ 114,910,129 ​ ​ 69,228,444 ​ ​ ​ ​ ​ ​ ​ Basic earnings (loss) per share ​ $ 0.13 ​ $ (0.21) Diluted earnings (loss) per share ​ $ 0.11 ​ $ (0.21)
Schedule of potentially dilutive securities excluded from the diluted earnings (loss) per share calculation	​ ​ ​ ​ ​ ​ ​ 2021 2020 ​ ​ ​ ​ ​ Warrant Common Stock 19,333,303 1,023,745 2014 Equity Incentive Plan — 23,476,182 Total potentially dilutive securities 19,333,303 24,499,927

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Operating Leases
Schedule of future minimum annual commitments under these operating leases	​ ​ ​ ​ ​ Years Ending December 31 Amount 2022 ​ $ 914 2023 ​ 1,125 2024 ​ 1,062 2025 ​ 779 Thereafter ​ 2,699 Total ​ $ 6,579

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Taxes
Schedule of income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Current income tax (benefit)/expense: ​ ​ ​ ​ ​ ​ Federal $ — $ — State ​ — ​ — Deferred income tax (benefit)/expense: ​ ​ Federal ​ (22) ​ 96 State ​ (3) ​ 22 Total income tax (benefit)/expense ​ (25) ​ 118
Schedule of reconciliation of the statutory federal income tax expense to income tax	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Income tax expense at the federal statutory rate ​ ​ 21.00 % 21.00 % State income benefits ​ (5.97) % 2.96 % Permanent Differences ​ 0.25 % 1.08 % Permanent Differences – Related to Convertible Debt ​ 0.31 % (5.04) % Permanent Differences – Fair Value Adjustments ​ ​ (56.44) % 0.00 % Prior year provision to return ​ (0.03) % (0.03) % Net change in valuation allowance ​ 40.73 % (20.81) % Other ​ ​ 0.01 % 0.00 % Total income tax (benefit) ​ (0.14) % (0.84) % ​
Schedule of tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Deferred tax assets: ​ ​ Net operating loss ​ $ 15,591 ​ $ 7,349 Stock compensation ​ ​ 417 ​ ​ 1 Other ​ 49 ​ 19 Total income tax expense (benefit) ​ 16,057 ​ 7,369 Valuation allowance ​ (14,536) ​ (6,190) Net deferred tax assets: ​ 1,521 ​ 1,179 Deferred tax liabilities: ​ ​ Intangibles (non-goodwill) ​ $ — ​ $ (2) Property and equipment ​ (1,747) ​ (1,429) Total deferred tax liabilities ​ (1,747) ​ (1,431) Total net deferred tax liability ​ $ (226) ​ $ (252)

Significant Accounting Polici_4

Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Segment Reporting
Number of operating segment	1
Number of reportable segment	1
Contract Receivables
Work performed but not billed | $	$ 310	$ 224

Significant Accounting Polici_5

Significant Accounting Policies - Credit Risk and Major Customers (Details) - customer	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue
Concentration Risk [Line Items]
Number of customers	4	3
Revenue | Customer concentration | Three Customers
Concentration Risk [Line Items]
Concentration risk percentage		81.00%
Revenue | Customer concentration | Four Customers
Concentration Risk [Line Items]
Concentration risk percentage	87.00%
Contract receivables
Concentration Risk [Line Items]
Number of customers	2	1
Contract receivables | Customer concentration | One Customer
Concentration Risk [Line Items]
Concentration risk percentage		18.00%
Contract receivables | Customer concentration | Two Customers
Concentration Risk [Line Items]
Concentration risk percentage	58.00%

Significant Accounting Polici_6

Significant Accounting Policies - Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Commercial production equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Laboratory equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Computer equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Computer equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years

Significant Accounting Polici_7

Significant Accounting Policies - Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2021
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets	20 years

Significant Accounting Polici_8

Significant Accounting Policies - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Significant Accounting Policies
Expected dividend yield	0.00%	0.00%
Collaborative and Support Revenue
Deferred revenue	$ 500,000	$ 38,000
Research and Development
Research and Development Expense	17,102,000	9,594,000
Income Taxes
Uncertain tax position	0	0
Interest or penalties	$ 0	$ 0

Significant Accounting Polici_9

Significant Accounting Policies - Mezzanine Equity (Details) - Legacy Solid Power	12 Months Ended
	Dec. 31, 2021shares
Temporary Equity [Line Items]
Conversion ratio	1
Series A1 Preferred Stock
Temporary Equity [Line Items]
Number of shares converted into common stock	14,069,187
Series B Preferred Stock
Temporary Equity [Line Items]
Number of shares converted into common stock	8,777,812

Business Combination - Reconcil

Business Combination - Reconciliation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Business Combination
Cash - DCRC trust and cash, net of redemptions	$ 347,914
Cash - PIPE Financing	195,000
Cash - Sponsor Funds	264
Non-cash net assets acquired from DCRC	(100,697)
Less: transaction costs and advisory fees for Legacy Solid Power allocated to equity	(5,991)
Less: transaction costs and advisory fees for DCRC	(41,897)
Net Business Combination	394,593
Add: non-cash net assets acquired from DCRC	100,697
Add: accrued transaction costs and advisory fees	80
Net cash contributions from Business Combination	$ 495,370

Business Combination - Number o

Business Combination - Number of common stock shares outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Less: redemption of DCRC Class A common stock	(210,171)
Shares of Common Stock issued in PIPE Financing	19,500,000
Total shares of Common Stock outstanding immediately after Business Combination	167,557,988	69,885,084
Legacy Solid Power
Business Acquisition [Line Items]
Number of common stock shares issued	104,518,159
Class A Common Stock
Business Acquisition [Line Items]
DCRC common stock outstanding prior to Business Combination	43,710,000
Class B Common Stock
Business Acquisition [Line Items]
DCRC common stock outstanding prior to Business Combination	40,000

Business Combination - Addition

Business Combination - Additional information (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 08, 2021shares	Dec. 31, 2020$ / shares
Business Acquisition [Line Items]
Common stock, par value | $ / shares	$ 0.0001		$ 0.0001
Exchange ratio	3.182
Number of shares issued	19,500,000
Aggregate purchase price | $	$ 195,000
Private Placement Warrants
Business Acquisition [Line Items]
Number of warrants outstanding		7,666,667
DCRC
Business Acquisition [Line Items]
Fair value of acquired common stock warrants | $	$ 101,253
DCRC | Private Placement Warrants
Business Acquisition [Line Items]
Number of warrants outstanding	7,666,667
DCRC | Sponsor
Business Acquisition [Line Items]
Number of warrants to purchase common stock	1,000,000
Warrants price per share | $ / shares	$ 1.50
DCRC | Sponsor | Working Capital Loans
Business Acquisition [Line Items]
Outstanding balance | $	$ 1,500
Subscription agreement ("PIPE Shares")
Business Acquisition [Line Items]
Number of shares issued	19,500,000
Price per share | $ / shares	$ 10
Aggregate purchase price | $	$ 195,000
Class B Common Stock
Business Acquisition [Line Items]
Conversion of stock	1
Class B Common Stock | DCRC
Business Acquisition [Line Items]
Number of shares issued	39,829
DCRC
Business Acquisition [Line Items]
Common stock, par value | $ / shares	$ 0.0001
Legacy Solid Power
Business Acquisition [Line Items]
Common stock, par value | $ / shares	$ 0.0001
Number of common stock shares issued	104,518,159
Options exercisable	34,407,949

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment, Net, by Type [Abstract]
Gross property and equipment	$ 28,550	$ 12,626
Accumulated depreciation	(6,468)	(4,145)
Net property and equipment	22,082	8,481
Depreciation and amortization expense	2,360	2,067
Property, Plant and Equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Depreciation and amortization expense	2,351	2,066
Commercial production equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Gross property and equipment	9,139	6,198
Laboratory equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Gross property and equipment	1,316	1,306
Leasehold improvements
Property, Plant and Equipment, Net, by Type [Abstract]
Gross property and equipment	4,674	4,662
Computer equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Gross property and equipment	416	181
Furniture and fixtures
Property, Plant and Equipment, Net, by Type [Abstract]
Gross property and equipment	321	168
Construction in progress
Property, Plant and Equipment, Net, by Type [Abstract]
Gross property and equipment	12,684	111
Construction Of Second Dry Room
Property, Plant and Equipment, Net, by Type [Abstract]
Construction in progress	6,875	$ 111
Expansion Of Sulfide-Based Solid Electrolyte Production
Property, Plant and Equipment, Net, by Type [Abstract]
Construction in progress	943
Construction Of Customized Equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Construction in progress	$ 4,866

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite lived intangible assets net
Gross Carrying Amount	$ 661	$ 281
Accumulated Amortization	(42)	(33)
Amortization expense for intangible assets	$ 9	9
Minimum
Finite lived intangible assets net
Useful lives of intangible assets	3 years
Maximum
Finite lived intangible assets net
Useful lives of intangible assets	20 years
Licenses
Finite lived intangible assets net
Gross Carrying Amount	$ 149	147
Accumulated Amortization	(42)	(33)
Patents pending
Finite lived intangible assets net
Gross Carrying Amount	503	125
Trademarks
Finite lived intangible assets net
Gross Carrying Amount	$ 9	$ 9

Long-term Debt (Details)

Long-term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total	$ 130	$ 2,724
Less current portion	120	1,235
Long-term portion	10	1,489
Various equipment notes payable to banks
Debt Instrument [Line Items]
Total	130	270
Various equipment notes payable to banks | Minimum
Debt Instrument [Line Items]
Monthly installments amount	$ 1	$ 1
Debt interest rate	6.255%	6.255%
Various equipment notes payable to banks | Maximum
Debt Instrument [Line Items]
Monthly installments amount	$ 2	$ 2
Debt interest rate	12.18%	12.18%
Note payable to bank
Debt Instrument [Line Items]
Total		$ 2,454
Monthly installments amount	$ 91	$ 91
Prime rate interest	6.00%	6.00%
Note payable to bank | Prime Rate [Member]
Debt Instrument [Line Items]
Variable rate of debt	1.00%	1.00%

Long-term Debt - Debt matures (

Long-term Debt - Debt matures (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Long-term Debt, Fiscal Year Maturity [Abstract]
2022	$ 120
2023	8
2024	2
Total	$ 130	$ 2,724

Long-term Debt - Note Payable (

Long-term Debt - Note Payable (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Long-term Debt
Adjusted quick ratio		1.25
unrestricted and unencumbered cash in accounts		$ 1,750
long-term debt, Interest expense	$ 131	$ 196

Convertible Notes Payable (Deta

Convertible Notes Payable (Details) - USD ($)	May 05, 2021	Dec. 04, 2019	Dec. 31, 2021	Dec. 31, 2020	Mar. 01, 2021	Feb. 04, 2021	Dec. 18, 2020	Dec. 10, 2020
Debt Instrument [Line Items]
Fair value of the embedded derivative				$ 2,817,000
Loss from change in fair value of debt				437,000
2020 Convertible Promissory Notes
Debt Instrument [Line Items]
Principal amount					$ 4,875,000	$ 4,875,000	$ 5,125,000	$ 5,125,000
Interest rate			8.00%
Interest expense			$ 210,000	15,000
2020 Convertible Promissory Notes | Series B Preferred Stock
Debt Instrument [Line Items]
Number of shares issued in conversion	1,007,965
Convertible note payable	$ 10,228,000
Fair value of the embedded derivative	$ 5,497,000
2019 Convertible Promissory Notes
Debt Instrument [Line Items]
Principal amount		$ 3,000
Interest rate		5.00%
Convertible note payable				3,612,000
Interest expense			$ 53,000	$ 150,000
2019 Convertible Promissory Notes | Series B Preferred Stock
Debt Instrument [Line Items]
Interest rate	30.00%
Number of shares issued in conversion		254,899

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Liabilities
Long term marketable securities	$ 0
Marketable securities	75,885	$ 0
Recurring | Public Warrants
Liabilities
Warrant liability	26,483
Recurring | Private Placement Warrants
Liabilities
Warrant liability	23,537
Recurring | 2019 Convertible Promissory Notes
Liabilities
Liabilities		3,612
Recurring | 2020 Convertible Promissory Notes Embedded Derivative
Liabilities
Liabilities		2,817
Recurring | Level 1 | Public Warrants
Liabilities
Warrant liability	26,483
Recurring | Level 2 | Private Placement Warrants
Liabilities
Warrant liability	23,537
Recurring | Level 3
Liabilities
Transfers in or out of Level 3	0	0
Recurring | Level 3 | 2019 Convertible Promissory Notes
Liabilities
Liabilities		3,612
Recurring | Level 3 | 2020 Convertible Promissory Notes Embedded Derivative
Liabilities
Liabilities		$ 2,817
Recurring | Commercial Paper
Assets
Assets	33,275
Recurring | Commercial Paper | Level 1
Assets
Assets	33,275
Recurring | Corporate Bonds
Assets
Assets	39,593
Recurring | Corporate Bonds | Level 1
Assets
Assets	39,593
Recurring | Government Bonds
Assets
Assets	3,017
Recurring | Government Bonds | Level 1
Assets
Assets	$ 3,017

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Methodology (Details) $ in Thousands	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount	$ 3,612
2019 Convertible Promissory Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount	3,000
Fair Value	$ 3,612

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value of Other Financial Instruments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount	$ 3,612
2020 Convertible Promissory Notes Embedded Derivative
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal Amount	5,125
Fair Value	$ 7,424

Fair Value Measurements - Measu

Fair Value Measurements - Measurement inputs (Details) - Recurring - Level 2 - Private Placement Warrants	Dec. 31, 2021	Dec. 08, 2021
Exercise Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, warrants	11.50	11.50
Stock Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, warrants	8.74	13.01
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, warrants	48.9	48.4
Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, warrants	4.94	5
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input, warrants	1.24	1.26

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation (Details)	1 Months Ended
	Dec. 31, 2021USD ($)
Reconciliation
Change in fair value	$ 51,233,000
Private Placement Warrants | Level 2 | Recurring
Reconciliation
Balance at the beginning	6,070
Change in fair value	(3,000)
Balance at the end	$ 3,070

Common Stock Warrant Liabilit_2

Common Stock Warrant Liabilities (Details) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)D$ / shares	Dec. 08, 2021USD ($)$ / sharesshares
Class of Warrant or Right [Line Items]
Trading days considered in the calculation of fair market value		10 days
Fair Value, measurement with unobservable inputs reconciliation, recurring basis, liability, gain (loss) included in earnings | $	$ 51,233
Warrant Common Stock
Class of Warrant or Right [Line Items]
Class of warrant or right, number of securities called by each warrant or right | shares			1
Exercise price of warrants			$ 11.50
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value | $	$ 50,020	$ 50,020	$ 101,253
Warrant Common Stock | Sale Price Of Common Stock Equal Or Exceeds To 18.00 Per Share
Class of Warrant or Right [Line Items]
Redeemable price per warrant		$ 0.01
Minimum threshold notice period for redemption of warrants | D		30
Redemption period		30 days
Trigger price		$ 18
Threshold trading days for which the entity sends notice of redemption		20 days
Threshold consecutive trading days for which the entity sends notice of redemption		30 days
Warrant Common Stock | Sale Price Of Common Stock Equal Or Exceeds To 10.00 Per Share
Class of Warrant or Right [Line Items]
Redeemable price per warrant		$ 0.10
Minimum threshold notice period for redemption of warrants | D		30
Trigger price		$ 10
Public Warrants
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares			11,666,636
Private Placement Warrants
Class of Warrant or Right [Line Items]
Number of warrants outstanding | shares			7,666,667
Private Placement Warrants | Sale Price Of Common Stock Equal Or Exceeds To 18.00 Per Share
Class of Warrant or Right [Line Items]
Trigger price		$ 18

Mezzanine Equity (Details)

Mezzanine Equity (Details) $ in Thousands	Dec. 07, 2021shares	May 31, 2021USD ($)	Dec. 31, 2020shares
Temporary Equity [Line Items]
Conversion ratio	1
Series A-1 preferred stock
Temporary Equity [Line Items]
Shares outstanding	14,069,187		14,404,018
Preferred Stock converted into shares	14,069,187
Series B Preferred Stock
Temporary Equity [Line Items]
Shares outstanding	8,777,812
Minimum net cash proceeds for conversion | $		$ 135,579
Preferred Stock converted into shares	8,777,812

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2015	May 31, 2021
Expenses related to issuance of warrants		$ 16
Common stock
Stock options exercised (in shares)	1,160,930	1,097,370
Warrants
Warrants to purchase shares of common stock		45,730	276,000	1,755,557
Exercise price of warrants		$ 0.53	$ 0.00001088	$ 0.01
Expenses related to issuance of warrants		$ 16	$ 18

Stock Based Compensation - Narr

Stock Based Compensation - Narrative details (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)installmentshares	Dec. 31, 2020USD ($)shares	Dec. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense | $	$ 2,714	$ 182
2014 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding	34,407,949	23,475,984	23,020,981
Options terms	10 years
Options Granted	12,285,359	1,719,754
2014 Plan | Vesting after year one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
2014 Plan | Vesting after Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of successive equal number of installments of remaining vesting shares, vested | installment	36
2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares permitted to grant	18,900,000
Options Granted	0

Stock Based Compensation - Sche

Stock Based Compensation - Schedule of assumption (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stock Based Compensation
Approximate risk-free rate	1.04%	1.29%
Volatility	41.45%	43.92%
Average expected life (years)	6 years	6 years
Dividend yield	0.00%	0.00%
Weighted-average grant date fair value	$ 5.1	$ 0.84
Estimated fair value of total options granted	$ 25,353	$ 246

Stock Based Compensation - Summ

Stock Based Compensation - Summary of option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted-average Remaining Contractual Term (in years)
Cash received from options exercised	$ 106	$ 23
Future compensation costs related to the unvested portion of stock options	$ 23,307
2014 Plan
Number of Shares
Outstanding at beginning of period	23,475,984	23,020,981
Granted	12,285,359	1,719,754
Exercised	(1,160,930)	(1,097,370)
Forfeited or expired	(192,464)	(167,381)
Outstanding at end of period	34,407,949	23,475,984	23,020,981
Exercisable	19,603,474	18,023,695
Weighted-average Exercise Price
Outstanding at beginning of period	$ 0.06	$ 0.06
Granted	5.10	0.16
Exercised	0.09	0.02
Forfeited or expired	0.84	0.15
Outstanding at end of period	1.86	0.06	$ 0.06
Exercisable	$ 0.05	$ 0.04
Weighted-average Remaining Contractual Term (in years)
Weighted average remaining contractual term	6 years 11 months 23 days	6 years 6 months 10 days	7 years 21 days
Exercisable	5 years 2 months 15 days	5 years 11 months 15 days
Cash received from options exercised	$ 106	$ 23

Stock Based Compensation - 2021

Stock Based Compensation - 2021 Employee Stock Purchase Plan (Details) - 2021 Plan - USD ($) $ in Thousands	Jan. 01, 2022	Dec. 31, 2021	Dec. 08, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock available for issuance			3,778,000
Number of additional shares	3,778,000
Percentage limit on commons stock shares outstanding	1.00%
Threshold percentage on the fair market value		85.00%
Threshold percentage of the combined voting power		5.00%
Maximum percentage of the qualified compensation		15.00%
Annual limit		$ 25,000

Stock Options - Additional Info

Stock Options - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Stock Based Compensation
Compensation costs		$ 182
Cash received from options exercised	$ 106	23
Future compensation costs related to the unvested portion of stock options		$ 593

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share
Net Income (Loss)	$ 18,092	$ (14,375)
Premium paid on repurchase of redeemable convertible preferred stock	5,436
Net income (loss) attributable to common stockholders	$ (12,656)	$ 14,375
Weighted average shares outstanding - basic	95,477,472	69,228,444
Weighted average shares outstanding - diluted	114,910,129	69,228,444
Basic earnings (loss) per share	$ 0.13	$ (0.21)
Diluted earnings (loss) per share	$ 0.11	$ (0.21)

Earnings Per Share - Potentiall

Earnings Per Share - Potentially Dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities	19,333,303	24,499,927
Warrant Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities	19,333,303	1,023,745
2014 Equity Incentive Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive securities		23,476,182

Operating Leases (Details)

Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
Total rent expense under the leases	$ 661	$ 415
Deferred lease incentive	179	$ 246
Future minimum annual commitments under these operating leases
2022	914
2023	1,125
2024	1,062
2025	779
Thereafter	2,699
Total	$ 6,579

Related Party Transaction (Deta

Related Party Transaction (Details) - Roccor $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Defined Benefit Plan Disclosure [Line Items]
Total value of the subcontract	$ 331
Revenue from ROCCOR	$ 163

Retirement plan (Details)

Retirement plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Retirement Plans
Contributions to the plan	$ 352	$ 226

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current income tax expense (benefit):
Federal	$ 0	$ 0
State	0	0
Deferred income tax expense (benefit):
Federal	(22)	96
State	(3)	22
Total income tax expense (benefit)	$ (25)	$ 118

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of the statutory federal income tax expense (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Effective Tax Rate
Income tax expense at the federal statutory rate	21.00%	21.00%
State income taxes - net of federal income tax benefits	(5.97%)	2.96%
Permanent Differences	0.25%	1.08%
Permanent Differences - Related to Convertible Debt	0.31%	(5.04%)
Permanent Differences - Fair Value Adjustments	(56.44%)	0.00%
Prior year provision to return	(0.03%)	(0.03%)
Net change in valuation allowance	40.73%	(20.81%)
Other	0.01%	0.00%
Total income tax expense (benefit)	(0.14%)	(0.84%)

Income Taxes - Deferred income

Income Taxes - Deferred income tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss	$ 15,591	$ 7,349
Stock compensation	417	1
Other	49	19
Total income tax expense (benefit)	16,057	7,369
Valuation allowance	(14,536)	(6,190)
Net deferred tax assets:	1,521	1,179
Deferred tax liabilities:
Intangibles (non-goodwill)		(2)
Property and equipment	(1,747)	(1,429)
Total deferred tax liabilities	(1,747)	(1,431)
Total net deferred tax liability	$ (226)	$ (252)

Income Taxes - Additional infor

Income Taxes - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Taxes
Increase in valuation allowance	$ 8,347
Federal net operating loss carryovers	$ 63,391	$ 29,836
Percentage of offset on taxable income for Federal net operating loss carryovers	80.00%
Uncertain tax benefits	$ 0	0
Accrued interest or penalties related to uncertain tax positions	$ 0	$ 0

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Contingencies
Deferred revenue	$ 500	$ 38

Going Concern (Details)

Going Concern (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Going Concern
Accumulated deficit	$ (9,535)	$ (27,627)
Minimum period for which Company has sufficient capital to execute its strategic plan and fund operations	12 months