QuantumScape (NYSE:QS), the corporate making an attempt to create a viable solid-state lithium-metal battery, has introduced its earnings for the second quarter of 2021. On condition that QuantumScape is a pre-revenue firm, its top-line and bottom-line metrics are immaterial at this stage. Nonetheless, the disclosure does present perception into the corporate’s product growth plans.
QuantumScape ended its second quarter with $1.5 billion in money/liquidity. Furthermore, the corporate expects to enter 2022 with a minimum of $1.3 billion in liquidity. Moreover, the corporate expects to incur bills within the vary of $130 million to $160 million through the 12 months. On a cautionary word, QuantumScape’s CapEx is monitoring larger than earlier steering.
QuantumScape disclosed in its letter to the shareholders at this time that it’s presently testing 10-layer cells:
“These cells, within the commercially related 70×85 mm type issue, are being examined at 1C and C/3 (oneand three-hour cost and discharge) charges beneath our normal temperature (25 °C) and stress (3.4 atmospheres), circumstances we imagine are related for automotive purposes.”
Keep in mind that the corporate had set a goal for the tip of 2021 to begin such testing. Moreover, QuantumScape examined its 4-layered 70mm by 85mm cells at normal 3.4 atm and a temperature of 25 diploma Celsius with none materials degradation in biking efficiency.
In one other vital growth, QuantumScape is testing an iron phosphate (LFP) cathode for its lithium-metal battery cells:
“… We made and examined our anode-free lithium-metal cells with a low-cost iron phosphate (LFP) cathode and confirmed that our chemistry and cell design are suitable with LFP, as proven on the chart under. LFP has seen a resurgence of curiosity, however conventional LFP cells utilizing carbon anodes usually undergo from low power density (sometimes round 400 Wh/L). In contrast, we imagine LFP coupled with QS’s lithium-metal anode might ship power densities between 600 and 700 Wh/L, approaching at this time’s state-of-the-art NMC chemistries.”
Keep in mind that QuantumScape had disclosed in its final letter to the shareholders that its cells, constructed in a commercially related type issue of 70mm by 85mm, cycled via round 450 cost/discharge cycles whereas retaining round 90 p.c capability. Furthermore, its coin-sized cells (30mm by 30mm) had cycled via over 1,000 cost/discharge cycles whereas retaining 80 p.c capability. Crucially, these coin-sized cells weren’t uncovered to externally utilized stress, which is often employed to “guarantee good interfacial contact between the layers that make up the cell, with out which the cell would have unacceptably excessive resistance and poor energy efficiency.”
Readers ought to word that the corporate plans to supply a working prototype by 2022. QuantumScape has additionally doubled the deliberate capability of its pre-pilot line, dubbed QS-0, to over 200,000 cells per 12 months. Furthermore, QS-1, a joint manufacturing facility with Volkswagen, will begin industrial operations in 2024-2025. As a refresher, QuantumScape had unlocked an extra $100 million in funding from Volkswagen (VW) again in March after the European auto big examined the pattern solid-state battery cells in its labs in Germany, with the check models managing to satisfy all pertinent technical thresholds.
So far as future operational steering is worried, the corporate famous in its letter to the shareholders:
“Going into 2022, we imagine our stability sheet will allow us to completely fund QS-0, begin QS-1 manufacturing at 1 GWh scale and contribute capital to the next 20 GWh growth of the QS-1 facility.”