QuantumScape, a developer of what are known as solid-state batteries, has entered into a definitive agreement to merge with blank check company Kensington Capital Acquisition Corp. EV battery manufacturer backed by Bill Gates and Volkswagen. Implied Value of combined companies is 3.3B QuantumScape Corporation engages in the development and commercialization of solid-state lithium-metal batteries for electric vehicles. The company was founded in 2010 and is headquartered in San Jose, California