QuantumScape, a 10-year-old battery company subsidized through the Volkswagen Group, is looking to go public through an opposing merger with SPAC Kensington Capital Corp.The San Jose, California-based battery company is looking for an electric vehicle supplier for the battery industry and recently partnered with Volkswagen to produce so-called semiconductor battery cells.Semiconductor battery cells are considered a possible game change for electric cars because they offer maximum functionality and low-cost protection.
Low flammability, superior electrochemical stability, superior prospective cathodes and higher power density than traditional lithium-ions are characteristics of next-generation electric vehicle batteries.
QuantumScape’s prototype batteries use a forged ceramic electrolyte that the company sees as a safer option for liquid electrolytes.Lithium-metal adode that replaces a graphite/silicon aode can reduce charging time.In addition to reducing charging time, semiconductor batteries also offer higher power density than their lithium-ion counterparts.Currently, lithium-ion batteries contain around 250Wh/kg, while semiconductor batteries already exceed 400Wh/kg.
The electric vehicle area is popular with retail and institutional investors, with Tesla (TSLA) and Nikola (NKLA) stealing the show. And it’s not just Volkswagen, venture capitalists come with Bill Gates, Khosla Ventures, Kleiner Perkins and even Qatar Investment Authority, the nation’s $320 billion sovereign wealth fund, participated in the latest funding circular.
The so-called SPAC agreement with Kensington Corp is expected.closed until the end of 2020 and the new company will be listed on the New York Stock Exchange under the symbol QS.
By Tom Kool of Oil chauffage
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