StoreDot Receives Strategic Investment From BP

StoreDot Ltd., a Herzeliya, Israel-based nanotechnology and fast charging energy-storage technology developer, reportedly received a $20m strategic investment from BP Ventures.

The strategic investment will enable StoreDot and its partners to team up with BP to strengthen the eco-system around the next generation of Electric Vehicle (EV) ultra-fast charging infrastructure.

Led by Dr. Doron Myersdorf, Co-Founder and CEO, StoreDot has develope lithium ion-based battery technology that enables ultra-fast charging for the mobile and industrial markets. Using this technology, the company is also developing a new type of electric-car battery that promises to achieve a charging experience (comparable to the time spent to refuel a traditional car, with a charging time of 5 minutes).

First sales of its flash batteries for mobile devices are expected as early as 2019.



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