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.