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Indian electric scooter maker backs Israeli developer of fast-charging battery

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StoreDot, an Israeli developer of extreme fast-charging (XFC) battery technology for electric vehicles (EVs), has nabbed a multi-million-dollar investment from Indian electric scooter maker Ola Electric, according to a company announcement Monday. The Bengaluru-based Ola Electric will manufacture and integrate StoreDot’s battery tech for future vehicles in India, the announcement read.

The funding is part of StoreDot’s Series D investment round of some $80 million. The company said the funding will be used for research and development and to reach mass production for its silicon-dominant anode XFC lithium-ion cells, which it says will be capable of delivering 100 miles (160 km) of driving range in five minutes of charging by 2024.

Based in Herzliya, StoreDot was founded in 2012 and has been developing lithium ion-based battery technologies, using nanomaterials and organic and inorganic compounds, that enable ultra-fast charging for the mobile and industrial markets. The company says the process redefines the chemistry of conventional lithium-ion batteries, taking electric vehicle charging times from hours to minutes.

This breakthrough is achieved primarily by replacing graphite in the cell’s anode with metalloid nanoparticles, such as silicon, to overcome major issues in safety, cycle life and cell swelling during the charging process.

The battery tech has been in development for three years and is backed by 12 patents in cell design, software and a........

© The Times of Israel

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