LEADING GLOBAL AUTOMOTIVE MANUFACTURERS TESTING STOREDOT'S EXTREME FAST CHARGING BATTERY CELLS, REPORT GAME-CHANGING PERFORMANCE

- StoreDot has successfully completed the first evaluation and integration testing phase for A-Samples of its extreme fast charging (XFC) electric vehicle battery cells

- Testing programs were initiated earlier this year with 15 leading global automotive brand manufacturers from Europe, Asia and the US, as well as key ecosystem partners

- Feedback from those that have completed the tests showed that the cells exceeded expectations with some OEMs now progressing to B-Sample programs in their specific battery cell form-factor

- Tests saw OEMs reach an energy density greater than 300Wh/kg, at a charging rate higher than 4C, achieving over 1000 consecutive XFC charging cycles

- StoreDot continues to foster a growing network of strategic partnerships with its investors, leading OEMs and manufacturing partners

- StoreDot remains on target for mass production readiness of '100in5' cells next year delivering at least 100 miles of range in just 5 minutes of charging

HERZLIYA, Israel, June 21, 2023 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging (XFC) high energy battery solutions for electric vehicles, has obtained outstanding battery performance feedback for the first evaluation and integration A-Samples testing phase of its XFC electric vehicle battery cells.

The comprehensive testing programs took place over the past six months by 15 leading global automotive brand manufacturers from Europe, Asia, and the US, as well as several of StoreDot's strategic ecosystem partners. Feedback from partners that have completed tests showed that the cells exceeded expectations, with those still conducting tests expected to report similar results.

The aim of the testing and evaluation programs was predominantly to replicate StoreDot's unique extreme fast charging specifications based on its partners' use case and test procedures. When the OEMs and partners replicated StoreDot's results, they reached an energy density greater than 300Wh/kg, at a charging rate higher than 4C, achieving over 1000 consecutive XFC charging cycles.

The programs encompassed two main paths: The first included XFC datasheet and specification verification based on StoreDot's rigorous testing procedures, and the second covered specific EV-OEM test protocols for critical performance and safety parameters relevant to their use cases.

The feedback received was overwhelmingly positive, surpassing StoreDot's target specifications. Some OEM partners have already progressed to phase two of the testing programs, which involves the initiation of B-Samples programs tailored to their own form-factor and specific requirements, enabling future implementation in each OEM EV architecture.

Amir Tirosh, StoreDot COO: "We are hugely confident in our XFC technology - the ability to charge the cell from 10%-80% in just 10 minutes - based on our own rigorous testing procedures. However, receiving such positive feedback from global EV manufacturers gives us even more assurance in our groundbreaking product. Our partners are extremely pleased with the results of our battery cells, showcasing unprecedented energy density levels, and charging times that will prove to be a game-changer for the entire industry. The testing results confirm the value proposition that XFC is critical in eliminating range and charging anxiety, while at the same time empowering OEMs to design EVs with smaller pack sizes that can charge in minutes. Using standard Li-ion manufacturing lines either owned by the partners themselves or with subcontractors, this success enables us to promptly begin selective collaboration on B-samples with our partners."

StoreDot continues to foster a growing network of strategic global partnerships and investors, encompassing the entire battery ecosystem. Notably, it has received investments from renowned global automotive manufacturers such as Daimler, Ola Electric, Polestar, VinFast, and Volvo Cars.

Last year, StoreDot unveiled its ambitious '100inX' strategic technology roadmap, outlining three generations of StoreDot technologies: Silicon dominant XFC, semi-solid state, and post-lithium architecture. This roadmap reiterates that the anticipated milestones will be delivered over the next decade, with 100in5 targeted for 2024, 100in3 for 2028, and 100in2 for 2032.

About StoreDot:

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

Through its '100inX' product roadmap, StoreDot's battery technology aims to deliver 'Range on Demand': 100 miles charged in 5 minutes in 2024, 100 miles charged in 3 minutes by 2028, and extreme energy density solution enabling 100 miles to be charged in 2 minutes by 2032. StoreDot's strategic investors and partners include Daimler, bp, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK, and its manufacturing partner EVE Energy. StoreDot's agnostic technology is designed to utilize existing standard production lines with no changes to process or equipment. In 2022, the company achieved a world first by demonstrating a live extreme fast charging of an EV battery cell in 10 minutes capable of over 1000 consecutive XFC cycles. This technology is now under testing with over 15 automotive OEMs. StoreDot is on target for mass production readiness of 100in5 technology by 2024.

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

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