Climate and Clean Tech | December 9, 2020

Fresh off its IPO, QuantumScape claims EV battery breakthrough

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, Dec. 9 – Electric vehicle battery maker QuantumScape says tests show its solid-state lithium-metal battery can charge to 80% of capacity in 15 minutes, compared to about an hour for today’s lithium-ion batteries. The solid-state batteries are also noncombustible.

“We think that we’re the first to solve solid-state,” QuantumScape’s Jagdeep Singh told Wired.

The San Jose, Calif.-based company last month raised $680 million via a reverse merger with Kensington Capital Acquisition, a SPAC, or special purpose acquisition company, along with a $500 million private investment. Early investors include Jeremy Grantham, Bill Gates and Volkswagen. 

  • Used EVs. Seattle-based startup Recurrent, which provides reports on battery life to help buyers of used electric vehicles, raised $3.5 million. The seed round was led by Wireframe Ventures.