StoreDot, The Extreme Fast Charging Battery Pioneer, To Establish A Global Innovation Hub In The United States To Speed Up Development Of Solid-state Batteries

-  New US-based innovation hub marks another important step in StoreDot's global expansion, supporting mission to enable automotive manufacturers to accelerate electric vehicle adoption with fast-charging technologies

-  Facility to use US-based talent to drive the development and mass production of solid-state extreme energy density (XED) battery technologies

-  US facility will support StoreDot's Israel-based global R&D headquarters

-  StoreDot gives automotive manufacturers a clear and risk-free technology roadmap for seamless and rapid transition to electrification, creating a cleaner world

HERZELIYA, Israel, Oct. 20, 2021 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging (XFC) technology for electric vehicles, continues its global expansion and the development of future solid-state batteries with the opening of an R&D innovation hub in California, USA.

The new US-based innovation hub is being established to help StoreDot in its mission to promote a zero-emissions world, providing automotive battery technologies that will significantly enhance the electrified vehicle ownership experience, eradicating range anxiety. It will work alongside StoreDot's Israel-based R&D headquarters, enabling its revolutionary XFC automotive battery technologies to be mass produced by 2024. It will also immediately commence research into next-generation extreme energy density (XED) solid-state capabilities and materials, with the aim of scaling-up these advanced technologies for mass production by 2028. 

Dr Doron Myersdorf, StoreDot CEO "This new US R&D innovation hub signals that our business is rapidly expanding, as we are scaling up our extreme fast charging technologies. Establishing a facility in California will allow us to harness the world-class talent pool that's available there, with many people and organizations at the forefront of next-generation advancements. This will bolster the development of our world leading XFC technologies and onto XED solid-state batteries. We are also actively considering establishing a manufacturing partnership in the US, as it's essential that major automotive manufacturing centers have captive capacity, redressing the current imbalance in favor of Asian manufacturers and making batteries where electric vehicles are made."

"Our new US team will work in tandem with our rapidly expanding global network bringing new skills and ideas in order that we can execute our clear technology roadmap, enabling automotive manufacturers to develop vehicles that overcome range and charging anxiety."

StoreDot is now in advanced discussions with many of the world's leading automotive manufacturers and is already shipping samples for real world testing.

About StoreDot:

StoreDot is a pioneer and leader of extreme fast charging (XFC) batteries that overcome the critical barrier 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, making it possible to fully charge an EV in just five minutes – the same time it takes to refuel a conventional combustion engine vehicle. StoreDot's battery technology is optimized for best driver experience with XFC in Li-ion batteries, as well as future technologies for extreme energy-density (XED).StoreDot's strategic investors include BP, Daimler, Samsung Ventures and TDK. In 2019, the company achieved a world first by demonstrating the live full charge of a two-wheeled EV in just five minutes. In 2020, the company demonstrated the scalability of its XFC batteries for other industries, by fully charging a commercial drone in five minutes in another world first. Moving XFC battery technology from the lab to a commercially-viable product for the first time, StoreDot has launched engineering samples of its first-generation batteries that are designed to be manufactured at scale on traditional Li-ion production lines.

For more information see: www.store-dot.com.

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