![]() On the back of this technical success additional funding was secured by QuantumScape including funding from Kleiner Perkins, Prelude Ventures, Lightspeed Venture Partners, Capricorn Investment Group, Khosla Ventures, and Breakthrough Energy Ventures. This partnership eventually enabled QuantumScape to reach the crucial technical milestone of successfully demonstrating their sample battery cells to automotive performance standards. This new path remained aligned with the ambitious performance objectives of the BEEST program and led to a partnership with Volkswagen (VW) in 2012 to work on EV batteries. After pursuing their initial technical concept under their ARPA-E award, the QuantumScape team pivoted to a Li-metal solid-state battery technical approach. The BEEST award created the opportunity for an entrepreneurial team to coalesce around the Standford effort and QuantumScape was founded to build a business around the Stanford technology. The proposed device would use electrons to store energy resulting in projected higher power and energy-density than Li-Ion batteries. The Stanford University team’s project sought to develop an ambitious “all-electron” battery concept using an advanced structural design that separating critical battery functions. The selected projects pursued a variety of technical approaches, including radical improvement of lithium-ion technologies, designs using alternative metals such as magnesium, sodium, or zinc, and new lithium-sulfur and lithium-air batteries.īEEST embodied one of ARPA-E’s core principles to set ambitious performance goals, select high-potential projects and teams to pursue ambitious technical solutions. Teams specifically targeted batteries with double the energy density, and one-third the cost, of then state-of-the-art lithium-ion battery packs. In April 2010, ARPA-E announced over $35 million in funds for 10 projects in the BEEST program to develop innovative rechargeable battery technologies that would enable Electric Vehicles and Plug-in Hybrid Electric Vehicles (EV/PHEVs) to meet or beat the price and performance of gasoline-powered cars. QuantumScape spun out of a project at Stanford University that was awarded $1.5 million to develop transportation battery technology under the Batteries for Electrical Storage in Transportation (BEEST) program. All rights reserved.On September 3, 2020, battery producer QuantumScape announced its initial public offering (IPO) on the New York Stock Exchange through a reverse-merger with the special public acquisition company Kensington Capital Acquisition Corp. Other trademarks are property of their respective owners. EquityZen and logo are trademarks of EquityZen Inc. By accessing this site and any pages thereof, you agree to be bound by our Terms of Use. Check the background of this firm on FINRA’s BrokerCheck.Į is a website operated by EquityZen Inc. EquityZen Securities is a broker/dealer registered with the Securities Exchange Commission and is a FINRA/ SIPC member firm.Įquity securities are offered through EquityZen Securities. See our Risk Factors for a more detailed explanation of the risks involved by investing through EquityZen’s platform.ĮquityZen Securities LLC (“EquityZen Securities”) is a subsidiary of EquityZen Inc. Investors must be able to afford the loss of their entire investment. Investing in private companies may be considered highly speculative and involves a high degree of risk, including the risk of substantial loss of investment. Investment opportunities posted on this website are "private placements" of securities that are not publicly traded, are subject to holding period requirements, and are intended for investors who do not need a liquid investment. ![]()
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