StoreDot Accelerates EV adoption: 10-Minute Charging of Large Prismatic Batteries Now a Reality

Solving the EV charging speed challenge, including technical and commercial active traction with 15 leading global OEMs, StoreDot's extreme fast charging (XFC) battery is now delivering a seamless charging of just 10 minutes with no accelerated battery degradation

IRVINE, Calif. and HERZLIYA, Israel, Sept. 10, 2024 /PRNewswire/ -- StoreDot, the pioneer in extreme fast charging (XFC) silicon battery technology for electric vehicles (EVs), announces that its prismatic battery cell charges from 10 to 80 percent in just 10 minutes without compromising on the battery's health and range, solving the charging speed challenge. StoreDot's battery addresses the main barrier to mass EV adoption by eliminating charging anxiety and is available for immediate integration by OEMs.

Over half of survey respondents from the U.K. and Germany are hesitant to switch to EVs due to lengthy charging times, despite nations investing in expanding charging infrastructure to meet growing demand and curb CO2 emissions. After years of double-digit growth, declining interest combined with slower sales growth by late 2023 puts the EV industry at risk of losing momentum if it doesn't secure fast-charging battery technology to ease consumer anxiety.

StoreDot announced it had successfully assembled its first-ever prismatic cells earlier this year, and now thanks to the ongoing agreement with leading automotive manufacturer Flex|N|Gate, it has proven its XFC battery technology is production-ready at a scale to satisfy global demand. The sample cells tested had an 80Ah (amp hour) capacity, demonstrating the ability to charge 10-80 percent in 10 minutes without overheating, paving the way for developing 160Ah cells that align with customer requirements.

Powered by its detailed cell design and an experienced engineering team, StoreDot's XFC cells enable 100 miles of charge in five minutes, and its team is working to reduce the charge time to four minutes by 2026. Despite halving the charging time compared to other premium fast-charging models, StoreDot's batteries uniquely show no accelerated degradation due to fast charge.

StoreDot has partnered with 15 OEMs to extensively test its production-ready silicon XFC battery cells, which can be seamlessly integrated into existing EV architectures to fit any manufacturer strategy. StoreDot's unique design combines high energy density, which is critical for high-performing EV batteries, robust reliability, and the same price trajectory as standard battery solutions, enabling manufacturers to build more affordable EVs.

"This milestone not only demonstrates our ability to work closely with EV OEMs to customize the XFC technology to their specific format, it also showcases the success of our partnership with Flex|N|Gate in scaling up our prismatic cells," says Amir Tirosh, COO of StoreDot. "Together, we've taken a giant leap forward in EV battery innovation, offering OEMs our game-changing XFC technology in the prismatic format many prefer. This achievement is a testament to the power of collaboration in revolutionizing the EV industry, bringing us significantly closer to our vision of making extreme fast charging a reality for millions of drivers worldwide."

"We are thrilled about the collaboration with StoreDot, including this groundbreaking technology," says Guido Benvenuto, Flex|N|Gate Vice President of Global Sales. "Producing these high-performance prismatic cells at our facility demonstrates the success and strength of our manufacturing capabilities in this space and our commitment to advancing EV battery manufacturing technology. This is a significant step forward in our shared mission to accelerate electric vehicle adoption by addressing one of the most critical challenges – charging time."

About StoreDot

StoreDot is the pioneer and world 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 the charging of an EV in under 10 minutes – the same experience as refueling a conventional combustion engine car.

Through its '100inX' product roadmap, StoreDot's battery technology is delivering 'Range on Demand™': 100 miles charged in 5 minutes in 2024, 100 miles charged in 4 minutes in 2026, and 100 miles charged in 3 minutes by 2028. StoreDot's strategic investors and partners include BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK, and its manufacturing partner EVE Energy. For more information, visit: https://www.store-dot.com/

About Flex|N|Gate

Privately held Flex|N|Gate Group is controlled American industrialist Mr. Shahid Rafiq Khan. The Flex|N|Gate Group is a leading manufacturer and supplier of parts, components, sub-systems, and systems for the automotive industry with a global platform of 77 integrated manufacturing, product development and advanced product engineering facilities. The group employs a global team of over 26,000 individuals. Founded in 1956, it ranked as one of America's Best Large Employers by Forbes magazine in both 2021 and 2022. Flex|N|Gate Group companies operate facilities in the United States, Canada, México, Spain, France, Italy, Germany, the United Kingdom, China, and Argentina. Flex-N-Gate's headquarters are located in the United States.

Flex|N|Gate Group products are found on the world's leading automotive badges, including: Acura, Audi, Bentley, BMW, Buick, Cadillac, Citroen, Dacia, Dodge, Fiat, Ford, General Motors, Genesis, GMC Truck, Honda, Hyundai, Infiniti, Jaguar, Jeep, Lamborghini, Land Rover, Lexus, Lincoln, Mazda, Mercedes-Benz, Mini, Mitsubishi, Navistar International, Nissan, Opel, Peugeot, Polestar, Range Rover, RAM, Renault, Rolls-Royce, SEAT, Škoda Auto, Smart, Subaru, Suzuki, Tesla, Toyota, Volkswagen, and Volvo.

Flex|N|Gate Group designs, manufactures and supplies the global automotive industry with complete advanced bumper assemblies, mechanical components, assemblies and systems, exterior painted plastic trim, interior plastic, stamped body-in-white, complex welded structural assemblies and advanced forward, in-vehicle and rear lighting for the light vehicle market.

Flex|N|Gate Group's achievements are consistently recognized within the automotive industry. In 2022, Automotive News ranked FNG North America's 7th largest supplier (31st largest globally). Repeated industry accolades over the last fifteen years include the following awards:(a) Ford World Excellence; (b) GM Supplier of the Year; (c) Toyota Excellent Quality Awards; (d) Nissan Supplier Diversity Award; (e) Subaru Excellence Awards, (f) Stellantis Supplier of the Year – North America; (g) VW Excellence in Development Award.

Contact:

Ofir Sever
ofir@reblonde.com
+972542394241

Photo: https://mma.prnewswire.com/media/2501775/StoreDot_Prismatic_cells.jpg
Logo: https://mma.prnewswire.com/media/2501776/StoreDot_Logo.jpg