StoreDot

StoreDot is a developer and provider of extreme-fast charging (XFC) lithium-ion (Li-ion) batteries for electric vehicles.

StoreDot Ltd.
IndustryAutomotive, Electric batteries,Clean technology
Founded2012 (2012)
FounderDr. Doron Myersdorf, Prof. Simon Litsyn, and Prof. Gil Rosenman
Headquarters
Herzliya
,
Israel
Key people
Doron Myersdorf (CEO), David Gilmour (Executive Chairman)
OwnersBP, Daimler, Samsung, TDK, Roman Abramovich
Number of employees
120 (2021)
Websitewww.store-dot.com

StoreDot's fast-charging component can be fully charged in five minutes, and then it partially charges the lithium-ion battery at a conventional rate. Fully-charging the lithium-ion battery requires multiple charging cycles of the fast-charging component.[1] StoreDot batteries deliver about a third of the energy density compared to competing lithium batteries[2] and are estimated to cost twice that of competing lithium batteries.[1]

Milestones

Corporate

StoreDot was founded in 2012 by Dr. Doron Myersdorf, Prof. Simon Litsyn, and Prof. Gil Rosenman.[3][4] The company developed its XFC battery technology based on its proprietary fast-charging component that fully charges within five minutes, and which then partially also charges a conventional Li-ion battery at the standard rate.[1][5]

Within one year, in 2013, StoreDot was named the Most Disruptive Company in the World by Disrupt100.[6]

The company lists BP, Daimler, Samsung, TDK, and Roman Abramovich among its investors.[3][7] Its initial Round A investment was led by Samsung Ventures in 2013, attaining $6 million, followed by Round B in 2014, with a $42 million investment, and Round C was led by Daimler and Samsung in 2017, attaining a $62 million investment.[8] The following year, in 2018, BP invested $20 million in StoreDot, marking BP's first investment in an Israeli company,[4] with the startup preparing to launch its first product the following year, targeting the mobile phone and other consumer electronics markets.[9] By February 2019, StoreDot had raised a total of $130 million from investors.[5]

In December 2019, StoreDot's CEO was listed as Bloomberg Businessweek Ones to Watch,[10] and in July 2020, Bloomberg named StoreDot as a 2020 BNEF Pioneer.[11]

In March 2021, StoreDot appointed former BP Ventures' Dr. David Gilmour as Executive Chairman.[12][13]

In March 2021, StoreDot was reported to be in negotiations to merge with a SPAC at a $3.5 billion valuation.[14]

Technology

In 2014, StoreDot introduced the prototype of a mobile phone battery that can be fully charged in 30 seconds.[15]

In 2018, StoreDot entered into mass production of its FlashBattery for consumer electronics, in partnership with the Chinese manufacturer EVE Energy Co.[16]

In 2019, StoreDot demonstrated a live, world's first five-minute full charge of a two-wheeled EV in partnership with BP.[17][18]

In July 2020, the company demonstrated the first five-minute charging solution for commercial drones, in partnership with Airscort.[19][20]

In 2021, StoreDot announced it has made a strategic decision to focus on the EV market, and in January that year, the company announced the release of engineering samples for its first-generation XFC Li-ion batteries, showcased to car manufacturers. The release of these samples, produced by Eve Energy Co.,[21] mark the first-ever standard-factory-produced Li-ion batteries that are capable of being fully charged in five.[22]

References
  1. Introduction to StoreDot's flash battery – Fast Charging Technology, StoreDot, November 7, 2017, archived from the original on January 19, 2020
  2. Leo Kelion (January 7, 2015), CES 2015: The charger that boosts battery in seconds, BBC News
  3. Ben Gedalyahu, Dubi (May 22, 2018). "BP invests $20m in Israeli fast-battery co StoreDot". Globes. Retrieved June 2, 2018.
  4. Solomon, Shoshana (May 22, 2018). "UK's BP unit invests $20m in Israel's fast battery charging startup StoreDot". The Times of Israel. Retrieved June 2, 2018.
  5. Adi pick (24 February 2019). "Soon You Will be Able to Charge Your Car in Under 10 Minutes, Storedot COO Says". Calcalistech.com. Retrieved 23 April 2019.
  6. Barber, Lynsey (May 31, 2017). "These are the 100 most disruptive startups in the world (and a third are from the UK): Roman Abramovich-backed Storedot, AI chip maker Graphcore and cancer detection scientists at Grail top list". City A.M. Retrieved June 2, 2018.
  7. "Israeli 5-minute battery charge aims to fire up electric cars". ynetnews. 2021-03-07. Retrieved 2021-03-07.
  8. Michaël Torregrossa (16 September 2017). "Batteries à charge ultra-rapide : Daimler investit dans StoreDot". Automobile-propre.com (in French). Retrieved 23 April 2019.
  9. "The secrets of the StoreDot battery that wowed BP". Energystoragereport.info. 13 June 2018. Retrieved 23 April 2018.
  10. "The Bloomberg 50, the People Who Defined 2019". Bloomberg. December 4, 2019.
  11. "Ten Innovative Companies Named as 2020 BNEF Pioneers". BloombergNEF. July 14, 2020.
  12. "StoreDot Appoints Former BP Ventures' David Gilmour as Chairman". March 16, 2021.
  13. "StoreDot Appoints Former BP Ventures' David Gilmour as Chairman". Yahoo Finance. March 16, 2021.
  14. Hazani, Golan (2021-03-16). "Fast-charging battery startup StoreDot closing on $3.5 billion SPAC merger". CTECH - www.calcalistech.com. Retrieved 2021-03-18.
  15. Marc Zaffagni (10 April 2014). "StoreDot : 30 secondes pour recharger la batterie d'un smartphone". Futura-sciences.com (in French). Retrieved 23 April 2019.
  16. "StoreDot enters Mass Production of its Super-fast Batteries". Techtime.news. 2 December 2018. Retrieved 23 April 2019.
  17. Ackerman, Gwen (June 11, 2019). "Electric Scooter Revs Up in Five Minutes with StoreDot Battery". Bloomberg.
  18. Browne, Ryan (June 12, 2019). "StoreDot and BP Charge an Electric Scooter in just Five Minutes". CNBC.
  19. "StoreDot Demonstrates World's First 5-Minute Charge of a Commercial Drone, Making Continuous & Fully-Autonomous Drone Delivery a Reality". July 29, 2020.
  20. Ford, Jason (August 6, 2020). "UFC FlashBattery recharges drones in five minutes". The Engineer.
  21. "StoreDot One Step Closer to Eliminating EV Charging & Range Anxiety with Launch of First Ever '5-Minute Charge' Li-ion Battery Samples". January 19, 2021.
  22. Carrington, Damian (January 19, 2021). "Electric car batteries with five-minute charging times produced". The Guardian.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.