STOREDOT, THE EXTREME FAST CHARGING BATTERY PIONEER, SHIPS EV BATTERY CELL SAMPLES TO GLOBAL CAR MAKERS FOR TESTING TO ACCELERATE ADOPTION DELIVERING 100 MILES OF RANGE IN 5 MINUTES OF CHARGING

• Dispatched in large EV form factor, the 30Ah pouch cells are destined for real-world testing with selected strategic partners and potential customers
• StoreDot Electric Vehicle OEM investors include Daimler, VinFast, Volvo, Polestar, and Ola Electric
• Milestone validates StoreDot's innovative silicon-dominant lithium-ion cell technology and its groundbreaking 100in5 technology - 100 miles of range in 5 minutes of charging
• Testing and integration programs by leading automotive manufacturers provides invaluable collaboration to accelerate production at scale

HERZLIYA, Israel, Sept. 7, 2022 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging batteries for electric vehicles, has commenced shipping EV cell samples of its '100in5' battery technology to strategic electric vehicle OEM partners and potential customers.

Following the successful completion of series D funding round, StoreDot commences shipping its production ready battery cell samples to global Electric Vehicle OEMs. It represents another significant step on StoreDot's roadmap to begin mass-producing its '100in5' battery cells during 2024, and to deliver a step-change in global EV adoption. This technology provides 100 miles of range in just 5 minutes consistently and without compromising battery's health.

Shipped in EV form factor, the 30Ah silicon-dominant anode, lithium-ion pouch cells are currently undergoing intensive real-world testing with strategic OEM partners and other automotive players.

Amir Tirosh, StoreDot Chief Business Officer "Shipping the large form factor samples of our advanced '100in5' battery technology to over a dozen of strategic partners and potential OEM customers across the globe is a truly historic moment for StoreDot. It is the culmination of ten years of intense research and development and demonstrates our strong determination to push the known boundaries of battery technology to accelerate mass EV adoption and eliminate range and charging anxiety."

"I am delighted that we have now commenced intensive, real-world testing with leading OEMs and am confident that our cells will exceed OEM expectations with respect to energy density and extreme fast charging. Current performance shows >900 consecutive extreme fast charging (10% to 80%) in just 10 minutes, with more than 300 Wh/kg. We are on track to exceed our commercialization milestone of 1000 cycles this year. With the support and collaboration with key partners, StoreDot plans to begin mass production of our '100in5' cells and provide 100 miles of range for 5 minutes of charging during 2024. Our journey will not end there, as we confidently continue with our strategic goal of providing 100 miles of range with just 3 minutes in 2028, and in 2 minutes of charging within a decade."

StoreDot has already proven the effectiveness of its extreme fast charging – XFC – battery in public during a highly attended live demonstration in Oslo in June, at The International Electric Vehicle Symposium (EVS), one of the key conferences for the EV industry. StoreDot is currently working on mass production readiness of its '100in5' cells with its long-standing manufacturing partner, EVE Energy in China, in parallel to expanding its global manufacturing footprint in other geographies.

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 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 experience as refueling 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 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 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 2024.

Photo: https://mma.prnewswire.com/media/1892738/StoreDOT_EV_Battery_Cell.jpg

SOURCE StoreDot