STOREDOT CONTINUES ITS PATH TO COMMERCIALIZATION AND PREPARES FOR A RECORD 2024 WITH WORLD'S FIRST EV FITTED WITH XFC TECHNOLOGY, SHIPPING PRISMATIC B-SAMPLES AND EXPANSION OF ITS OPERATIONS IN US

• Key focus is delivering prismatic B samples, packaging StoreDot's extreme fast charging (XFC) technology into the form factors that OEMs require for their upcoming EV models
• Through its collaboration with Polestar, StoreDot intends to showcase the world's first EV fitted with XFC battery cell technology with a live demonstration this year
• The company will expand its operations in the US, opening its research hub in Irvine, CA
• StoreDot's remains on track with production-readiness of XFC cells that can deliver 100 miles charged in 5 minutes this year, 100 miles charged in 4 minutes in 2026 and 100 miles charged in 3 minutes by 2028

HERZLIYA, Israel , Jan. 11, 2024 /PRNewswire/ -- StoreDot, the pioneer and world leader in extreme fast charging (XFC) battery technology for electric vehicles, has announced its major milestones for 2024.

The company will continue its path to commercialization by firmly pursuing mass production of its XFC technologies. It will focus its immediate R&D efforts on developing advanced B-sample prismatic cells, through joint development programs with several global car manufacturers, as well as working with OEMs on the different form factors they require.

In collaboration with Polestar, StoreDot intends to showcase the world's first EV fitted with XFC battery cell technology this year. This demonstration of production-ready batteries, fitted to a prototype vehicle is set to be a game changer for the industry, opening the door for the entire EV ecosystem to embrace XFC technology.

Supporting this progress, StoreDot's US team will expand into its new facility in Irvine. StoreDot's US arm is uniquely placed to harness the skills available on the west coast as it develops future semi-solid and solid-state batteries. It is well-positioned to directly serve the company's US-based automotive customers.

StoreDot will continue to enhance its partnerships with other automotive manufacturers and manufacturing partners, in order to scale up its global manufacturing footprint and capacity to support global car makers.

Through its '100inX' product roadmap, StoreDot's remains on track with production-readiness of XFC cells that can deliver 100 miles charged in 5 minutes this year, 100 miles charged in 4 minutes in 2026 and 100 miles charged in 3 minutes by 2028.

Doron Myersdorf, CEO StoreDot said:

"We are incredibly excited for the future and proud of the progress we have made so far. 2024 will be the year of prismatic B-samples, proving our XFC technology scales to automotive production as we transition towards mass manufacturing readiness. StoreDot is the pioneer of XFC cells, and this year will see us continuing our path towards commercialization and cementing our position as the world leader in delivering extreme fast charging battery technologies."

About StoreDot

StoreDot is the pioneer and world 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 innovating and synthesizing proprietary organic and inorganic compounds, optimized by Artificial Intelligence algorithms, enabling to charge an EV in under 10 minutes – the same experience as refuelling 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 4 minutes in 2026 and 100 miles charged in 3 minutes by 2028. StoreDot's strategic investors and partners include BP, Daimler, VinFast, Volvo Cars, Polestar, Ola Electric, Samsung, TDK and its manufacturing partner EVE Energy. Having its extreme fast charging battery cell performance verified by over a dozen global OEMs, StoreDot is on target for mass production readiness of 100in5 technology in 2024.

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

Photo - https://mma.prnewswire.com/media/2315759/Doron_Myersdoft.jpg

SOURCE StoreDot