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Benzinga
Benzinga
Business
Shivani Kumaresan

QuantumScape Inks Strategic Multi-Year Agreement With Fluence

  • QuantumScape Corp (NYSE:QS) has signed a multi-year agreement with Fluence Energy Inc (NASDAQ:FLNC) to introduce solid-state lithium-metal battery technology to stationary energy storage applications. The financial terms were not disclosed.
  • Along with the agreement, which reserves batteries produced at QuantumScape's pre-pilot production facility, QS-0, the companies will work together to validate and test QuantumScape solid-state battery cells for use in Fluence's proprietary stationary storage products.
  • "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.
  • The companies expect to enter into a large-scale supply agreement in the course of the collaboration.
  • Price Action: QS shares are trading higher by 2.20% at $21.38 and FLNC lower by 1.67% at $25.39 on the last check Thursday.
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