QuantumScape and Fluence to Collaborate on Solid-State Lithium-Metal Battery for Stationary Storage.

Strategic Relationship Brings Next-Gen Battery Technology to New Sector.

SAN JOSE, Calif 01/13/2022 –  QuantumScape Corporation (NYSE: QS) and Fluence Energy Inc. (NASDAQ: FLNC) today announced a multi-year agreement to introduce solid-state lithium-metal battery technology to stationary energy storage applications. The strategic partnership brings together two technological innovators dedicated to boosting sustainable energy adoption and lowering global carbon emissions. As specified technical and commercial objectives are accomplished, the businesses will collaborate on what they claim to be a first-of-its-kind solution to combine QuantumScape’s battery technology into Fluence stationary energy storage devices.

From 2020 to 2030, the global market for stationary energy storage is predicted to rise by more than 2,000 percent, representing a $385 billion* potential. Cost-effective solutions that boost energy reliability and grid resilience, as well as better demand management to cover shortages and prevent power outages, will be required to make the shift to greener energy systems. Fluence has constantly pioneered new applications for battery-based storage on the electric grid, from replacing natural gas peaker plants to upgrading transmission networks, as a leader in stationary storage. QuantumScape’s solid-state lithium-metal technology has the potential to improve these solutions by providing better energy density battery cells that can store more energy in less area than current lithium-ion batteries.

“Fluence and QuantumScape share the same mission to reduce global greenhouse gas emissions through innovation and adoption of energy storage technologies, so our collaboration is a natural fit,” said Jagdeep Singh, co-founder and CEO of QuantumScape. “While we have historically focused on automotive applications, we believe our battery technology is broadly applicable and can play a role in other sectors contributing to a lower-carbon future.”

“We are delighted to work with QuantumScape to bring the benefits of solid-state lithium-metal batteries to the stationary storage space,” said Manuel Perez Dubuc, CEO of Fluence. “As the team that invented battery-based energy storage on electric grids, it’s no surprise that Fluence is working with QuantumScape, the clear leader in the solid-state battery space, to bring its innovation to the power grid. Fluence’s technology-agnostic platform is also particularly suited to early adoption of next-gen technologies like this that have the potential to increase the adoption of stationary storage.”

The businesses will collaborate to validate and test QuantumScape solid-state battery cells for use in Fluence’s unique stationary storage devices as part of the agreement, which reserves batteries generated at QuantumScape’s pre-pilot production facility, QS-0. During the collaboration, the companies intend to sign a large-scale supply arrangement.

QuantumScape is on a quest to change the way energy is stored and enable a low-carbon future. The Fluence alliance is the company’s first non-automotive partnership. QuantumScape has established three strategic alliances with major global automakers, including the Volkswagen Group. QuantumScape has also announced numerous key technological improvements in the previous six months, which have piqued the interest of vehicle manufacturers and other companies searching for high-performing next-generation energy storage.

About QuantumScape Corporation

QuantumScape is a leader in developing next-generation solid-state lithium-metal batteries for electric vehicles. The company is on a mission to revolutionize energy storage to enable a sustainable future. For more information, please visit www.quantumscape.com.

About Fluence

Fluence is a global market leader in energy storage products and services, and digital applications for renewables and storage. As of September 30, 2021, the company has more than 3.6 GW of energy storage deployed or contracted in 30 markets globally, and more than 4.7 GW of wind, solar, and storage assets optimized or contracted in Australia and California.

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