Solid Power, QuantumScape, and the Battle for Solid-State Batteries
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The two main disrupters in
The two main disrupters in the solid-state battery market are the QuantumScape and the Solid Power. They lead the battle for the next-generation EV batteries.
Stephen Wilmot reports in the World Street Journal that the solid-state battery market for electric vehicles is still a market that rewards expensive moonshots over incremental technology improvements.
He says the latest electric vehicle business to announce plans to go public via a special-purpose acquisition company is Solid Power, a Colorado-based developer of next-generation “solid-state” battery technology. On Tuesday, Decarbonization Plus Acquisition Corporation III DCRC 0.76% said it would buy Solid Power for $1.2 billion. Including cash from the SPAC and the fundraising held alongside the deal, the combined companies would have a market value of roughly $1.9 billion at the current share price.
In June 15, Solid Power and Decarbonization Plus Acquisition Corporation III announced a merger that would result in Solid Power becoming a publicly listed company. Upon closing of the transaction, the combined company will be named "Solid Power, Inc." and its common stock and warrants are expected to trade on NASDAQ under the new ticker symbol "SLDP" and "SLDP WS," respectively. Upon closing, Solid Power is expected to have a nine-person board composed of a majority of independent directors and will continue to be led by Solid Power's existing management team, which brings deep technological and manufacturing experience.
The combined companies would have a market value of roughly $1.9 billion at the current share price.
That is a lot less than the $12.8 billion market value of the other U.S.-listed solid-state battery company the California-based QuantumScape.
Coming up with a viable material for the solid electrolyte has proved an enormous challenge, though. QuantumScape thinks it has hit on a ceramic that works with a lithium-metal anode, and the test results that it has released are promising, albeit limited. Wilmot explains that Solid Power, instead, is pursuing another electrolyte material called a sulfide, and maybe further down the testing route than QuantumScape. But the results it published with lithium-metal anodes were disappointing, so it is working with a more conventional silicon anode as a first step.
A few weeks ago, Solar Power published more details on its platform for solid-state batteries for the first time : This should enable three different battery designs and reduce the costs for the active cathode material by up to 90 percent. While the investment by BMW and Ford stated that the first cells with 20 Ah silicon anode cells should be manufactured at the end of 2021 (and 100 Ah should follow in 2022), the company now announced a year for series production at the end of May. The first battery design variant with an anode with a high silicon content is to be commercialized by 2026, the one with a lithium metal anode "will follow". A date for the third design variant - a cobalt- and nickel-free cell - was not given.
#SolidStateBatteries
#QuantumScape
#SolidPower
This is Armen Hareyan from Torque News. Please follow us at Twitter: torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news.
Reference
WSJ https://www.wsj.com/articles/solid-po...
Stephen Wilmot reports in the World Street Journal that the solid-state battery market for electric vehicles is still a market that rewards expensive moonshots over incremental technology improvements.
He says the latest electric vehicle business to announce plans to go public via a special-purpose acquisition company is Solid Power, a Colorado-based developer of next-generation “solid-state” battery technology. On Tuesday, Decarbonization Plus Acquisition Corporation III DCRC 0.76% said it would buy Solid Power for $1.2 billion. Including cash from the SPAC and the fundraising held alongside the deal, the combined companies would have a market value of roughly $1.9 billion at the current share price.
In June 15, Solid Power and Decarbonization Plus Acquisition Corporation III announced a merger that would result in Solid Power becoming a publicly listed company. Upon closing of the transaction, the combined company will be named "Solid Power, Inc." and its common stock and warrants are expected to trade on NASDAQ under the new ticker symbol "SLDP" and "SLDP WS," respectively. Upon closing, Solid Power is expected to have a nine-person board composed of a majority of independent directors and will continue to be led by Solid Power's existing management team, which brings deep technological and manufacturing experience.
The combined companies would have a market value of roughly $1.9 billion at the current share price.
That is a lot less than the $12.8 billion market value of the other U.S.-listed solid-state battery company the California-based QuantumScape.
Coming up with a viable material for the solid electrolyte has proved an enormous challenge, though. QuantumScape thinks it has hit on a ceramic that works with a lithium-metal anode, and the test results that it has released are promising, albeit limited. Wilmot explains that Solid Power, instead, is pursuing another electrolyte material called a sulfide, and maybe further down the testing route than QuantumScape. But the results it published with lithium-metal anodes were disappointing, so it is working with a more conventional silicon anode as a first step.
A few weeks ago, Solar Power published more details on its platform for solid-state batteries for the first time : This should enable three different battery designs and reduce the costs for the active cathode material by up to 90 percent. While the investment by BMW and Ford stated that the first cells with 20 Ah silicon anode cells should be manufactured at the end of 2021 (and 100 Ah should follow in 2022), the company now announced a year for series production at the end of May. The first battery design variant with an anode with a high silicon content is to be commercialized by 2026, the one with a lithium metal anode "will follow". A date for the third design variant - a cobalt- and nickel-free cell - was not given.
#SolidStateBatteries
#QuantumScape
#SolidPower
This is Armen Hareyan from Torque News. Please follow us at Twitter: torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news.
Reference
WSJ https://www.wsj.com/articles/solid-po...
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