QuantumScape Inks Strategic Multi-Year Agreement With Fluence

QuantumScape Corp QS has signed a multi-year agreement with Fluence Energy Inc 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.