QuantumScape Corp. (NYSE: QS) focuses on renewable energy by developing solid-state battery technology to increase the range of electric cars. The company’s mission is to revolutionize energy storage in order to enable a sustainable future.
According to QuantumScape, its battery solutions will provide significant improvements in cost, safety, range, charge time and cycle life over existing energy storage technology.
The Next Generation of Battery
The solid-state lithium-metal battery designed by QuantumScape is a revolutionary new approach aimed at enabling a mass market transformation. While solid-state batteries are widely believed to be the next best power source for electric vehicles (having greater energy density and shorter charge times than current lithium-ion batteries), high manufacturing costs are a concern for the industry.
QuantumScape’s design is expected to enable lower manufacturing costs, making it feasible to mass-produce solid-state batteries to fuel the EVs of the future. According to the company, its battery solution is significantly better than existing offerings in terms of:
- Energy – QuantumScape’s design increases volumetric and gravimetric energy density by eliminating graphite/silicon anode host materials.
- Life – The company’s technology increases the life of the battery by eliminating capacity loss at the anode interface.
- Fast Charging – The solid-state lithium-metal battery is designed to fast charge to 80% in less than 15 minutes. This is made possible by eliminating the lithium diffusion bottleneck in the anode host material.
- Safety – QuantumScape’s design replaces the use of organic separators with a solid-state separator that is non-flammable and non-combustible.
- Cost – The company’s technology is designed to lower costs by eliminating anode host materials and minimizing manufacturing costs.
Manufacturing Timeline for Solid-State Batteries
QuantumScape has been backed by and partnered with Volkswagen since 2012. In 2018, the two companies announced the formation of a joint manufacturing venture to prepare for the mass production of solid-state batteries.
The company is currently focused on scaling its production capabilities, both on its own and in partnership with Volkswagen. According to its latest investor presentation, QuantumScape’s QS-0 pre-pilot production line is scheduled to begin in 2023, with commercialization scheduled to begin SOP in 2025.
According to the company’s latest investor presentation, QuantumScape has raised more than $2 billion in capital investment since its founding in 2010. The company has spent over $500 million on its development efforts over the past 12 years.
In addition to a deep partnership with Volkswagen, other investors who have taken interest in QuantumScape’s solid-state battery tech include:
- SAIC Motor
- Breakthrough Energy Ventures
- Leland Stanford Junior University
- Bill Gates
- Khosla Ventures
- Kleiner, Perkins, Caufield, Byers
- Capricorn Investment Group
Many of these have representatives on the company’s board of directors.
Jagdeep Singh is the Founder, CEO and Chairman of QuantumScape. He received his MS in computer science from Stanford University. His past roles include Founder and CEO of Infinera (NASDAQ: INFN), Ciena (NASDAQ: CIEN), Qwest (fka OnFiber) and AirSoft.
Fritz Prinz is the Founder and Chief Scientific Advisor of QuantumScape. He is also a member of the company’s board of directors. He received a Ph.D. in Physics from the University of Vienna and is a professor of materials science and a chair for mechanical engineering at Stanford University.
Dr. Tim Holme is the company’s Founder and Chief Technology Officer. He has a Ph.D. in mechanical engineering and a Bachelor of Science in physics from Stanford University. He also received a post-doctoral associate from Stanford University.
Dr. Mohit Singh is the Chief Development Officer of QuantumScape. He received a Ph.D. in polymer physics from Berkeley. He is the solid-state energy storage world expert and CEO and co-founder of SEEO.
Kevin Hettrich is the company’s Chief Financial Officer. He has an MBA and an MS from Stanford University. He has worked in prominent positions at Bain Capital, McKinsey & Company and the U.S. Department of Energy.
Jay Underwood is the company’s Vice President of Sales. He has an MS in engineering. He handled product planning for Infinera, where he eventually became the sales director for Northern Europe.
Mike McCarthy is QuantumScape’s Chief Legal Officer and Head of Corporation Development. He obtained his J.D. from Vanderbilt. He held the title of CLO and CAO at Infinera and was SVP and General Counsel for Ciena.
- QuantumScape’s solid-state lithium-metal battery features a revolutionary new design bringing significant improvements in terms of cost, safety, range, charge time and cycle life.
- The company’s revolutionary battery design is expected to reduce manufacturing costs – one of the greatest challenges to mass-producing solid-state batteries.
- One of the major backers and investors in QuantumScape is Volkswagen, with the auto manufacturer providing significant funding to support the mass production of solid-state batteries.
- With shorter charge times and higher energy density, QuantumScape’s battery could be a game-changer in the fast-growing electric vehicle market. According to Allied Market Research, the EV market is projected to reach $802.81 billion by 2027.