On January 13, QuantumScape Corporation and Fluence Energy Inc. announced a multi-year deal to bring solid-state lithium-metal battery technology to stationary energy storage applications. The strategic alliance brings together two technological innovators committed to increasing sustainable energy use and decreasing global carbon emissions. The businesses will work on what they consider to be a first-of-its-kind solution for integrating QuantumScape's battery technology into Fluence stationary energy storage devices, subject to the achievement of specific technical and commercial objectives.
Stationary energy storage installations are expected to increase by more than 2,000 percent between 2020 and 2030, creating a $385 billion* global business opportunity. The move to cleaner energy systems will require cost-effective technologies that improve energy stability and grid resilience and demand management that better covers gaps and prevents blackouts. As a pioneer in stationary storage, Fluence has constantly pioneered new uses for battery-based storage on the electric grid, ranging from peaker plant replacement to transmission network enhancement. QuantumScape's solid-state lithium-metal technology has the potential to improve these solutions by providing higher energy-density battery cells that can store more energy in less space than the top lithium-ion batteries on the market today.
"Fluence and QuantumScape share the same mission of reducing global greenhouse gas emissions through innovation and adoption of energy storage technologies, so our collaboration is a natural fit, 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."
-Jagdeep Singh, co-founder, and CEO of QuantumScape.
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.
Along with the deal, the firms will collaborate to evaluate and test QuantumScape solid-state battery cells for usage in Fluence's patented stationary storage devices. The firms anticipate that the partnership will result in signing a large-scale supply deal.
About QuantumScape
It is on a mission to transform energy storage and pave the way for a more sustainable future. The Fluence connection is the company's first non-automotive deal. In addition, QuantumScape announced three collaborations with major global automakers, including the Volkswagen Group. QuantumScape has also announced numerous key technological improvements over the previous six months, generating greater interest from vehicle manufacturers and other businesses seeking high-performance next-generation energy storage.
*There is information in this news release that is "forward-looking" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. They contain significant risks and uncertainties that might cause actual results to differ considerably from those anticipated.