DON'T COMPROMISE BATTERY HEALTH: STOREDOT WARNS INDUSTRY AMID EXTREME FAST CHARGING BATTERY TECHNOLOGY RACE

• StoreDot reiterates its commitment to Extreme Fast Charging (XFC) chemistry that minimizes battery degradation in EVs
• Amid claims of fast charge times and extended ranges from competitors, StoreDot stresses the importance of transparent communication on XFC including long-term battery health concerns
• StoreDot's unique silicon-dominant chemistry prioritizes battery lifespan and safety while delivering high charge rates
• Even after 1300 consecutive XFC cycles on a large 30Ah format cell, StoreDot's batteries maintain 80% of their original capacity, making them highly durable
• Battery producers should be transparent as to the battery performance under extreme fast charging use case
• StoreDot remains on target for mass production readiness of '100in5' cells next year delivering at least 100 miles, or 160 km of range in just 5 minutes of charging
• StoreDot continues to foster a growing network of strategic partnerships with its investors, leading OEMs and manufacturing partners around the world

HERZLIYA, Israel, Sept. 7, 2023 /PRNewswire/ -- StoreDot, the pioneer of extreme fast charging (XFC) battery technology for electric vehicles is reinforcing its commitment to advanced chemistries that ensure minimal battery degradation over the lifetime of an EV.

The company's announcement is in response to recent industry claims touting fast charge times and extended ranges, which often overlook the potential long-term impact on battery health and the resulting degradation in vehicle's driving range.

Without proper battery chemistry frequent fast charges can lead to reduced overall battery lifespan, due to degradation as a result of power charging which can compromise the integrity of battery cells.

Addressing this concern, StoreDot is emphasizing the importance of transparent communication from battery developers around critical factors associated with XFC such as battery health, cycle life, performance under extreme temperatures, safety parameters, and costs.

Even after 1300 consecutive XFC cycles on a large 30Ah format cell, StoreDot's batteries maintain 80% of their original capacity, making them highly durable whilst providing Extreme Fast Charging to EVs.

Dr Doron Myersdorf, StoreDot CEO, "At StoreDot we put battery safety at the top of our agenda, ensuring that cells can accept high charge rates without compromising their lifespan. This has been our North Star over the last decade of development as we have continuously refined and improved our technology, and its importance mustn't be underestimated."

"Even though battery deterioration and a decline in the state of health over the lifetime of the battery are inevitable, EV owners shouldn't have to sacrifice lifespan and vehicle's driving range for convenient daily use. A driver should be able to confidently charge at a consistently high rate, every time and regardless of how full the battery is when they arrive at the charging station."

"Additionally, OEMs are increasingly looking to extend battery warranties based on guaranteed states of health within specified mileage ranges. Thus, it's vital that manufacturers future-proof their batteries, whilst considering the increased rollout of higher-powered charging infrastructure and evolving XFC usage patterns."

StoreDot's commitment to innovation and collaboration is being demonstrated through its rapidly growing global network of strategic partnerships with investors, leading OEMs, and manufacturing partners. Global automotive and EV manufacturers Volvo, Polestar, VinFast, and Ola Electric are already key strategic partners of the company.

Recently StoreDot reported outstanding battery performance feedback for the A-Samples testing phase of its XFC electric vehicle battery cells. The comprehensive testing programs took place earlier this year over six months by leading global automotive manufacturers from Europe, Asia, and the US, as well as several of StoreDot's strategic ecosystem partners.

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 10minutes – the same experience as refuelling a conventional combustion engine car.

Through its '100inX' product roadmap, StoreDot's battery technology is delivering 'Range on Demand™': 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 BP, VinFast, Volvo Cars, Polestar, Daimler, 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.

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

Photo: https://mma.prnewswire.com/media/2204106/ScoreDot.jpg

SOURCE StoreDot