QuantumScape and Corning Announce Agreement for Ceramic Separator Development & Commercialization

SAN JOSE, Calif. & CORNING, N.Y.--(BUSINESS WIRE)--QuantumScape Corporation (NYSE: QS), a global leader in next-generation solid-state lithium-metal battery technology, and Corning Incorporated (NYSE:GLW), one of the world’s leading innovators in glass, ceramics, and materials science, today announced an agreement to jointly develop ceramic separator manufacturing capabilities for QS solid-state batteries. The companies will work together toward the goal of high-volume production of QS’s ceramic separators for commercial applications.

Combining QS and Corning’s strengths in materials science and manufacturing, this agreement marks an important step in building an ecosystem of partners to rapidly industrialize QS’s next-generation battery technology.

“QS and Corning are driven by a shared spirit of innovation in science and technology,” said Ron Verkleeren, Senior Vice President, Corning Emerging Innovations Group. “We’re excited to collaborate with QS to help advance the future of battery technology.”

“Corning’s world-class capabilities in ceramics manufacturing makes it an ideal addition to the QS technology ecosystem,” said Dr. Siva Sivaram, CEO and President of QS. “Together with our ecosystem partners, we’re building the foundation for scalable production of our high-performance solid-state batteries and furthering our mission to revolutionize energy storage.”

About QuantumScape Corporation
QuantumScape is on a mission to revolutionize energy storage to enable a sustainable future. The company’s next-generation solid-state lithium-metal battery technology is designed to enable greater energy density, faster charging and enhanced safety to support the transition away from legacy energy sources toward a lower carbon future. For more information, visit www.quantumscape.com.

About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science, with a 170-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, solar, semiconductors, and life sciences.

Forward-Looking Statements
Certain information in this press release may be considered “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements regarding the development and commercialization of QS’s battery technology, the anticipated benefits and value creation of QS’s technology, and the collaboration with Corning Incorporated, including the company’s plans and objectives for future operations and growth, the expected performance of its technology and its applications, the achievement of technical milestones, development of the battery ecosystem, and the potential impacts of the company’s technology, among others. These forward-looking statements are based on management’s current expectations, assumptions, hopes, beliefs, intentions and strategies regarding future events and are based on currently available information as to the outcome and timing of future events. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements due to various risks, including the successful development, production, scale up and commercialization of our solid-state battery technology, including of its separator, and successfully collaborating with Corning and other partners in the ecosystem, achieving technical and financial milestones, building out of high volume processes and otherwise scaling manufacturing, achieving the performance, quality, consistency, reliability, safety, cost and throughput required for commercial production and sale, changes in economic and financial conditions, market demand for EVs, retaining key personnel, competition, regulatory changes, broader economic conditions, and other factors, including those discussed in the section titled “Risk Factors” in our Annual Report and Quarterly Reports and other documents filed with the Securities and Exchange Commission from time to time. Except as otherwise required by applicable law, the company disclaims any duty to update any forward-looking statements.