EXTREME FAST CHARGING BATTERY TECHNOLOGY IS AS IMPORTANT AS INFRASTRUCTURE ROLL-OUT TO ACHIEVE MASS ADOPTION OF ELECTRIC VEHICLES, SAYS STOREDOT

• Adequate charging infrastructure is often seen as the main catalyst to mass EV adoption, nonetheless, StoreDot says new battery technology is as critical
• Extreme Fast Charging (XFC) and charging infrastructure are now equally important and when combined will unlock mass adoption of EVs
• StoreDot welcomes industry players investing in and deploying 350kW plus chargers as they enable the full benefits of XFC technologies and EV adoption
• However, advances in charging infrastructure must be paired with adoption of XFC technology to reach the adoption tipping point
• StoreDot continues to foster a growing network of strategic partnerships with leading OEMs and manufacturing partners around the world
• StoreDot remains on target for industrialization of '100in5' cells delivering at least 100 miles, or 160 km of range for each 5 minutes of charging

HERZLIYA, Israel, Sept. 19, 2023 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging (XFC) battery technology for electric vehicles says that high-speed charging times are now just as crucial to the widespread adoption of electric vehicles, as the deployment of high power charging infrastructure.

With most drivers still naming charging anxiety as the major decision factor in transitioning from petrol to electric, infrastructure rollout is often seen as the main catalyst to mass EV adoption. However, StoreDot believes that the equilibrium has now shifted.

With the recent deployment of high-power chargers, the need for XFC battery technology in EVs on the road has increased. These two components – battery technology and high-power charging infrastructure – are now intertwined, forming a synergy that can unlock the mass adoption of EVs.

StoreDot is now shipping samples of its 100in5 silicon batteries capable of delivering 100 miles, or 160 km of charge in just five minutes. With global OEM partners testing and validating its technology, mass production readiness is now on track and the company anticipates widespread uptake of its battery cells starting in 2025.

Dr Doron Myersdorf, StoreDot CEO "Charging anxiety remains a key barrier to mass adoption of EVs. Nevertheless, the ability of the vehicle to charge fast is just as crucial to prospective EV users as the availability of high-power charge points. We welcome anyone investing in and deploying 350kW plus chargers as they enable XFC industrialization and in turn accelerate the adoption rate of EVs.

"Deployment of infrastructure must be paired with innovation of XFC technology since most EV battery solutions on the market currently cannot accept high power charging rates. With long lead times required to introduce new vehicles, we are urging global automotive manufacturers to adopt XFC battery technology that can safely accept the much-needed high power charging rates, to enable our industry to achieve the ambitious goal of zero-emission transport for a cleaner world. Our 100in5 battery cells are already being tested by 15 global OEMs and partners, and results show that the XFC revolution is within reach."

StoreDot's commitment to innovation and collaboration is being demonstrated through its rapidly growing global network of strategic partnerships with investors, leading OEMs, and battery manufacturers. Global automotive manufacturers Daimler, Volvo Cars, Polestar, VinFast, and Ola Electric are among the strategic investors of the company.

Recently StoreDot reported outstanding battery performance feedback for the A-Samples testing phase of its XFC electric vehicle battery cells. The comprehensive testing programs took place earlier this year by leading global automotive brand manufacturers from Europe, Asia, and the US, as well as several of StoreDot's strategic ecosystem partners.

About StoreDot:

StoreDot is the pioneer and leader of extreme fast charging (XFC) electric vehicle batteries that overcome the critical barriers to mainstream EV adoption – range and charging anxiety. The company has revolutionized the conventional Li-ion battery by innovating and synthesizing proprietary organic and inorganic compounds, optimized by Artificial Intelligence algorithms, enabling to charge an EV in under 10 minutes – the same experience as refuelling a conventional combustion engine car.

Through its '100inX' product roadmap, StoreDot's battery technology is delivering 'Range on Demand^TM': 100 miles charged in 5 minutes in 2024, 100 miles charged in 3 minutes by 2028, and extreme energy density solution enabling 100 miles charged in 2 minutes by 2032. StoreDot's strategic investors and partners include BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK, and its manufacturing partner EVE Energy. In 2022, the company achieved a world first by demonstrating a live extreme fast charging of an EV battery cell in 10 minutes. StoreDot is on target for mass production readiness of 100in5 technology by 2025.

StoreDot's media kit can be found at this link.

Photo: https://mma.prnewswire.com/media/2213845/Doron_Myersdorf.jpg