STOREDOT PARTNERS WITH POLESTAR ON THE WORLD'S FIRST EV WITH EXTREME FAST CHARGING BATTERY TECHNOLOGY

• StoreDot collaborating with Polestar - prototype vehicle fitted with XFC batteries to be demonstrated next year
• Two companies now exploring how ´100-in-5´ technology can be brought into automotive production
• Announcement made at Polestar Day in Los Angeles, California
• StoreDot's '100-in-5' cells deliver 100 miles of range in just five minutes of charging with no battery degradation
• Media assets can be downloaded here: https://bit.ly/storedot_ 

SANTA MONICA, Calif., Nov. 9, 2023 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging (XFC) battery technology for electric vehicles, is collaborating with Polestar on an advanced engineering project to technically explore and demonstrate how XFC battery cell technology can be applied to an existing platform, and show what a production-level solution could look like.

The ground-breaking announcement was made at today's Polestar Day in Los Angeles, California, where StoreDot's '100-in-5' XFC cell charging was demonstrated, alongside a prototype of a Polestar battery module.

Following Polestar's investment in StoreDot and as part of an ongoing strategic partnership, the two companies are now already in advanced collaboration and are working to demonstrate StoreDot's production ready XFC technology at full scale in a Polestar 5 prototype vehicle in 2024. The detailed collaboration includes key integrations such as the engineering design and cooling.

Dr Doron Myersdorf, CEO of StoreDot: "This is a huge step for StoreDot and a strong endorsement that our ground-breaking technology is readying for mass production. We are extremely pleased and proud that Polestar aims to be the first automotive company to showcase our extreme fast charging battery cells in a full-scale, driveable prototype. Polestar is already a strategic investor in our business, but this really cements and builds on our collaboration. We still have lots of work to do to fully integrate our systems into a production car, but our teams are already fully engaged, and we will be demonstrating those results in the coming months.

"We can't wait to see this technology in the hands of customers taking advantage of such game changing charging speeds."

Thomas Ingenlath, CEO of Polestar: "StoreDot was our first financial investment in another company, and we have been collaborating with them to apply their advanced technology in proof-of-concept Polestar cars. StoreDot's pioneering extreme fast charging batteries, combined with our upcoming top-of-the-line electric powertrain, can revolutionize the ownership experience for EV owners with the ability to recharge in minutes."

StoreDot is a world leader in silicon-dominant chemistries that are essential for electric vehicles to be able to charge at extremely high speeds. The company has already unveiled its '100inX' strategic technology roadmap, outlining three generations of StoreDot technologies: Silicon dominant XFC, semi-solid state, and post-lithium architecture. This roadmap reiterates the anticipated milestones over the next decade with '100-in-5' targeted for 2024, '100-in-3' for 2028, and '100-in-2' for 2032.

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About StoreDot:

StoreDot is the pioneer and 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 to charge an EV in under 10 minutes – the same experience as refuelling a conventional combustion engine car.

Through its '100inX' product roadmap, StoreDot's battery technology is delivering 'Range on Demand^TM': 100 miles charged in 5 minutes in 2024, 100 miles charged in 3 minutes by 2028, and extreme energy density solution enabling 100 miles charged in 2 minutes by 2032. StoreDot's strategic investors and partners include BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK, and its manufacturing partner EVE Energy. In 2022, the company achieved a world first by demonstrating a live extreme fast charging of an EV battery cell in 10 minutes. StoreDot is on target for mass production readiness of 100in5 technology by 2025.

StoreDot's media kit can be found at this link.

Photo - https://mma.prnewswire.com/media/2272820/StoreDot_1.jpg

SOURCE StoreDot