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  "documentTitle": "QuantumScape (QS)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2021-04-15 00:00:00",
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  "notes": "The slide uses testimonials to contradict the company's claims about solid-state material dendrite resistance.",
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      "text": "It just takes one dendrite to fail a cell. So, if you have more area, you have more probability of failure.",
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      "text": "A former R&D employee detailed the difficulties QS has experienced in taking research projects beyond the size of a coin cell, sharing an example where things looked great in a tiny cell – fast charging, battery life, and other parameters similar to those of the current technology – but failed in a slightly larger pouch cell format (which is still below a typical commercial dimension). The ex-employee indicated that dendrite risk in particular is highly sensitive to small increases in surface area – implying that it’s meaningless to claim a dendrites breakthrough with a coin-cell sample.",
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      "text": "Dendrites are the typical cause of failure in moving from coin cell to pouch cell size. “Some things died at the coin cell stage. I'm sure you're familiar with this: as you increase the area, it increases the likelihood of failure. If you scale up to a pouch cell level, your barriers get exacerbated because there's just more area that could be potential failures. And a lot of the failures for these types of batteries are dendrites. It just takes one dendrite to fail a cell. So, if you have more area, you have more probability of failure.” – Former R&D employee",
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      "text": "Quantumscape research projects typically fail when cells are made larger than a coin or small pouch. “The patent is out there. It was a cathode project. It was compelling data because you got energy density, the ability to charge fast, and thousands of cycles before you got to 80% of capacity. It was the golden metric for the battery industry. But they didn't move forward with that. We were able to make coin cells. The problem was when we switched from the sputtering small-scale sample to the scalable form, it was never able to mimic the performance. They made kilograms of the powder in scale, and they were able to build pouch cells. They went from half cells to a coin cell and to a pouch cell. The coin is like a dime and a pouch cell is bigger and square. The pouch cell is the stage at which most things died.” – Former R&D employee",
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      "text": "“Some things died at the coin cell stage. I'm sure you're familiar with this: as you increase the area, it increases the likelihood of failure. If you scale up to a pouch cell level, your barriers get exacerbated because there's just more area that could be potential failures. And a lot of the failures for these types of batteries are dendrites. It just takes one dendrite to fail a cell. So, if you have more area, you have more probability of failure.” — Former R&D employee",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Red flag 4 (cont’d): Former employee details QS struggles to get past the coin and pouch cell stage, as dendrite risk increases dramatically with cells bigger than a dime: “it just takes one dendrite to fail a cell”",
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      "text": "3) Phony claim A: Solid-state material resists dendrites",
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