Solidion completed a major restructuring of its August 2024 equity financing, eliminating all Series C and D pre-funded warrants and cancelling associated derivative liabilities. Long-term investors Madison Bond LLC and Bayside Project LLC converted their full warrant allocations into common stock and agreed to hold the shares for 12 months, enhancing alignment and reducing future dilution risk.

The company generated $13,350 in revenue and recorded a $41.0 million net loss for the year, which included a $28.3 million non-cash fair value adjustment on derivative liabilities. Operating expenses decreased by $371,929 year-over-year, driven by lower general and administrative costs, while research and development expenses rose with increased personnel and validation testing.

Solidion demonstrated a high-power 9.5Ah pouch cell retaining 95% capacity at a 10C discharge rate and plans Q2 2026 commercial availability for drone applications. The upcoming PEAK Series UPS battery, leveraging a 5500 silicon-carbon anode, is designed for AI data centers with 30% space savings and three times longer life, launching in Q1 2026.

The company secured grants from ARPA-E, the U.S. Department of Energy and the Army STTR program for advanced carbon and solid-state battery research, and obtained U.S. patents for technology converting lithium-ion facilities to solid-state production. Solidion and Oak Ridge National Laboratory won a 2025 R&D 100 Award for their E-GRIMS graphite production innovation.