STOREDOT EXTREME FAST CHARGING SUPERIOR PERFORMANCE VALIDATED BY INDEPENDENT LABS AS IT NEARS PRODUCTION READINESS

• StoreDot Extreme Fast Charging (XFC) battery technology tested by global lab specializing in energy storage and electric mobility Shmuel De-Leon Energy
• Comprehensive series of tests covering energy density, charging rate, operating conditions and cycling successfully concluded
• Detailed in-depth independent analysis of StoreDot XFC technology verifies superior performance in comparison to any known XFC battery solutions for electric vehicles
• Test results of 30Ah pouch cells in EV form factor confirm energy density of 300Wh/kg and 1000 consecutive extreme fast charging cycles, placing StoreDot XFC at the very top of battery performance envelope
• Report concludes: "StoreDot EV fast charging battery technology is a breakthrough and game changer for the automotive industry"
• StoreDot's battery technologies poised to deliver a seismic shift for sustainable mobility, delivering 100 miles of charge in 5 minutes by 2024, followed by 100 miles in 3 by 2028 and 100 in 2 within a decade

HERZLIYA, Israel, Dec. 6, 2022 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging (XFC) batteries for electric vehicles (EVs), has had its game-changing technology successfully validated by leading independent battery lab Shmuel De-Leon Energy.

The internationally renowned experts in the field of energy storage and electric mobility subjected StoreDot's production ready XFC batteries to a series of in-depth tests, confirming the technology's commercialization viability and its superior fast charging and high-energy performance in comparison to any known XFC battery solutions for the EV sector.

The intensive independent test program was conducted at the Shmuel De-Leon Energy laboratories and covered energy density, charging rate, operating conditions and cycling. The results corroborated a sector-leading energy density of 300Wh/kg and 1000 consecutive XFC cycles for StoreDot's proprietary technology that utilizes current deployed manufacturing equipment, which exceeded that of all other battery solutions tested.

Doron Myersdorf, CEO, StoreDot, said, "In recent months, we have successfully concluded live public charging demonstrations of StoreDot's XFC batteries. However, handing over our technology for independent assessment by leading battery labs of Shmuel De-Leon Energy was essential for us for independent validation of our extreme fast charging technologies."

"We are delighted to have passed yet another milestone on our strategic roadmap to deliver mass adoption of EVs with flying colors. It is particularly gratifying to have the commercialization validity and superior performance of StoreDot's XFC and high energy technology verified by leading experts in the field. In addition, our technology continues to be trialed in the real-world by our leading automotive partners. Each goal reached and each test successfully passed further validates our confidence in our ability to deliver 100in5 battery technology by 2024 and 100in3 by 2028."

About StoreDot:

StoreDot is the pioneer and leader of extreme fast charging (XFC) batteries that overcome the critical barriers to mainstream EV adoption – range and 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, making it possible to charge an EV in under ten minutes – the same time it takes to refuel a conventional combustion engine car.

Through its '100inX' product roadmap, StoreDot's battery technology is designed for best driver experience, offering 'Range on Demand^TM': 100 miles charged in 5 minutes (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, Polestar, Ola Electric, Samsung, TDK and the manufacturing partner EVE Energy. In 2022, the company achieved a world first by demonstrating a live extreme fast charging of an EV battery cell. StoreDot is on target for mass production readiness by 2024.

Photo: https://mma.prnewswire.com/media/1960719/StoreDot_30Ah_silicon_dominant_EV_battery_cell.jpg