Solid Power, Inc. ( SLDP ) stock is trading higher on Friday after the company was selected by the U.S. Department of Energy Office of Manufacturing and Energy Supply Chains to start negotiations for up to $50 million in federal funding.

The Details: Federal funding, via the Bipartisan Infrastructure Law, supports creating a continuous manufacturing process for sulfide-based solid electrolyte materials.

The sulfide-based solid electrolyte material plays an integral part in the expected performance advancements in energy density, safety, stability and cost of advanced all-solid-state batteries. Currently, Solid Power ( SLDP ) can produce up to 30 metric tons of electrolyte per year. Through this project, Solid Power ( SLDP ) expects to increase its production capability to 75 metric tons in 2026 and 140 metric tons in 2028.

“We view our selection for funding by the U.S. Department of Energy as validation of the promise sulfide-based all-solid-state batteries hold,” said John Van Scoter, President and CEO of Solid Power ( SLDP ).

“By adopting a continuous manufacturing process for our electrolyte, we expect to be able to meet anticipated near-term demand and set Solid Power ( SLDP ) up to become the leading global producer of sulfide-based solid electrolyte.”

How To Buy Solid Power Shares

By now you're likely curious about how to participate in the market for Solid Power ( SLDP ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Solid Power ( SLDP ) , which is trading at $1.49 as of publishing time, $100 would buy you 67.11 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

See Also: Palantir Stock Hits 52-Week Highs Thursday: What’s Going On?

SLDP Price Action: At the time of publication, Solid Power ( SLDP ) shares are moving 12.8% higher at $1.50, according to data from Benzinga Pro.

Image: 791333 from Pixabay.