STOREDOT'S SILICON BATTERIES WILL ENABLE SMALLER BATTERY PACKS CAPABLE OF EXTREME FAST CHARGING, LEADING TO MORE ACCESSIBLE ELECTRIC VEHICLES

• StoreDot's Extreme Fast Charging (XFC) technology will enable EV car manufacturers to design lighter EVs with smaller battery packs
• XFC also means drivers needn't worry about distance between charges or charging times allowing OEMs to rethink EV range and corresponding specifications
• The result will be improved car efficiency, increased utilization of regenerative braking, reduced carbon footprint and lower costs allowing EVs will serve a broader audience
• Downsizing an EV's battery pack from an average of 80kWh to 50kWh, could save about 200kg from the EVs weight (equivalent to 3-4 people) and reduce the cost of manufacturing the car by about $4,500, depending on metal cost fluctuations and energy density improvements
• StoreDot remains on target for mass production readiness of '100in5' silicon battery cells next year delivering at least 100 miles of range for each 5 minutes of charging

HERZLIYA, Israel, April 13, 2023 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging (XFC) battery technology will soon be manufacturing silicon batteries that enable car makers to design and produce cheaper, lighter and more sustainable EVs.

With the optimal driver experience of extreme fast charging in mind, StoreDot's technology has reached sufficient charging and discharging cycles that it will enable vehicle manufacturers to include a smaller battery pack. Smaller packs with XFC translate into improved EV specifications including better car efficiency, increased utilization of regenerative braking, reduced carbon footprint and lower costs. As a result, such affordable and lighter EVs will serve a broader audience and further enhance the adoption and transition to EVs.

StoreDot is now on track to deliver its 100in5 silicon-dominant extreme fast charging batteries to EV OEMs by next year. This transformative technology will deliver 100 miles, or 160 km of range in just five minutes of charge. As a result, EV drivers will no longer need to worry about the range between charges, or charging times, allowing car makers to re-evaluate the specifications of electric vehicles. With StoreDot's XFC technology, OEMs will be able to optimize a vehicle's weight and cost, rather than pushing for ever greater range and battery size.

Downsizing from an average premium vehicle requiring an 80kWh to a 50kWh battery pack could save approximately 200kg from the EV's weight (the equivalent weight of 3-4 people) and importantly, could reduce the build cost of the car by $4,500, depending on metal cost fluctuations and energy density improvements*. The environmental impact of such a design change will be highly significant too as it will lower amount of raw materials used in each vehicle, reducing its EV carbon footprint throughout its lifecycle. XFC in smaller packs also means efficient regenerative braking as it can accommodate the corresponding recuperated high currents.

Dr Doron Myersdorf, StoreDot CEO: 

"Up until recently OEMs were increasing the size of battery packs in their EVs because a proportion of drivers were transitioning from gas to electric for the first time with the known 'range anxiety' in their minds. Those drivers, and anyone who is an EV advocate now realize that range anxiety is no longer the most pressing issue - and won't even be an issue at all once public charging infrastructure around the world is properly in place."

"The two remaining barriers to EV ownership are charging anxiety and cost, and StoreDot's XFC solution was designed to assist with both. Radically reduced charging times will allow automotive manufacturers to rethink how they approach battery size and range. When charging times are no longer an issue, it makes a lot more sense to fit smaller battery packs. The cost savings could transform the accessibility of EVs and sustainability of batteries, with better car efficiency, fewer raw materials needed and less recycling at the end of their in-vehicle life."

StoreDot's groundbreaking XFC battery cells are now being tested by over 15 global automotive manufacturers, while the company continues to develop its manufacturing partnerships on a global scale.

*Calculations made using StoreDot's online calculator

About StoreDot

StoreDot is the pioneer and global 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, 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 XFC technology is designed to utilize existing and 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. StoreDot is on target for mass production readiness of 100in5 technology by 2024.

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

Photo: https://mma.prnewswire.com/media/2052606/StoreDot_s_silicon_batteries.jpg