StoreDot Hits Commercialization Milestone With 2,000 Extreme Fast Charging (XFC) Cycles, Elevating EV Longevity, Durability And Market Value

StoreDot, an innovator in the field of electric vehicle (EV) battery technology, has achieved a significant milestone by becoming the first company globally to produce and validate silicon-dominant extreme fast charging (XFC) EV battery cells capable of enduring over 2,000 cycles while retaining more than 80% of their original capacity. This development marks a significant leap forward in EV technology, offering drivers the convenience of fast charging their vehicles within minutes without compromising battery health.

The Herzliya-based company announced on 4th April 2024 that these high-energy-density cells demonstrated a remarkable charge rate of 4.2C, allowing them to be charged from 10% to 80% in just 10 minutes. Achieving at least 330Wh/kg and 860Wh/L at stack level, these results not only surpass current and forthcoming battery durability regulations but also promise extended battery life and high market value for EVs.

StoreDot's journey towards this achievement began in March 2022 when it reported reaching 1,250 cycles with smaller cells. Since then, the company has scaled up its technology, undergoing rigorous testing with over 15 EV brands. This progress underscores StoreDot's commitment to revolutionizing the EV market with its XFC technology, aimed at eliminating range and charging anxiety among EV users.

Yaron Fein, StoreDot Executive Vice President R&D, expressed his enthusiasm about surpassing the 2,000 cycles milestone. "This milestone achievement validates the exceptional long-term performance and reliability of our silicon-dominant XFC batteries as we rapidly progress toward commercialization," he stated. StoreDot's advancements are setting a new standard in battery technology innovation for electric vehicles, aligning with car manufacturers' zero-emission goals.

Looking ahead, StoreDot has outlined ambitious milestones for 2024. These include showcasing the world's first EV pack equipped with XFC technology, delivering prismatic B-samples to OEMs, signing strategic manufacturing agreements, and expanding operations in the US. The company remains on track with its production-readiness of XFC cells that promise to deliver 100 miles charged in just 5 minutes within this year.

StoreDot's '100inX' product roadmap is poised to further disrupt the EV market by offering 'Range on Demand™': achieving 100 miles charged in 4 minutes by 2026 and reducing it to just 3 minutes by 2028. With strategic investors and partners like BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK, and manufacturing partner EVE Energy supporting its vision, StoreDot is leading the charge towards a future where electric vehicles can be charged as quickly as refueling a conventional combustion engine car.

About StoreDot: As a pioneer and world leader in extreme fast charging (XFC) electric vehicle batteries, StoreDot is dedicated to overcoming the main barriers to mainstream EV adoption – range and charging anxiety. By innovating and synthesizing proprietary organic and inorganic compounds optimized by Artificial Intelligence algorithms, StoreDot is making rapid EV charging a reality. Its strategic investors and partnerships are testament to its potential to transform the electric vehicle industry.