STOREDOT HITS COMMERCIALIZATION MILESTONE WITH 2,000 EXTREME FAST CHARGING (XFC) CYCLES, ELEVATING EV LONGEVITY, DURABILITY AND MARKET VALUE

• StoreDot is the first company to produce and validate silicon-dominant XFC EV battery cells for over 2,000 cycles while maintaining over 80% of their initial capacity
• The cells were charged consecutively from 10% to 80% in 10 minutes, demonstrating a charge rate of 4.2C
• Results from high energy density cells achieving at least 330Wh/kg and 860Wh/L at stack level
• This landmark achievement validates StoreDot's XFC category leadership, with exceptional performance in both the vehicle's range and its charging speed
• Cells' performance gives significant margins compared to current and upcoming battery durability regulations, offering EV extended life and high market value
• StoreDot remains on track with production-readiness of XFC cells that can deliver 100 miles charged in 5 minutes, providing EV manufacturers with advanced B-samples this year

HERZLIYA, Israel, April 4, 2024 /PRNewswire/ -- StoreDot, the pioneer and global leader of silicon-dominant extreme fast charging (XFC) battery technology for electric vehicles (EVs) has hit a groundbreaking milestone by becoming the world's first company to achieve more than 2,000 consecutive XFC cycles, with the silicon dominant battery cells maintaining over 80% of their initial capacity. This means EV drivers can fast charge their cars in minutes every day, without worrying about the health of their battery.

These exceptional results, showing high energy density, are from cells achieving at least 330Wh/kg and 860Wh/L at stack level. The cells were charged consecutively from 10% to 80% in 10 minutes, demonstrating a charge rate of 4.2C, while discharged at a rate of 1C.

Battery cycle life is measured by the number of charge and discharge cycles a battery can undergo before its capacity drops below an industry standard, 80% of the original capacity. Such achievement of battery cells capable of withstanding 2,000 cycles while meeting the 80% capacity retention benchmark, represents a huge industry milestone, with the results far surpassing current and upcoming EV durability regulations. These results leave margins for other ageing factors in the real world, translating to longevity and extended battery life, offering EV owners with a high market value.

In March 2022, StoreDot announced it had achieved 1250 cycles with smaller cells. Since then, the company has been scaling up and validating its technology while testing it with over 15 EV car brands using EV cell capacity of 30Ah which has now exceeded the outstanding 2000 XFC cycles mark.

This landmark achievement is another major milestone on StoreDot's path toward commercialization, proving the maturity, stability, and durability of its game-changing XFC technology.

Yaron Fein, StoreDot Executive Vice President R&D

"Surpassing 2,000 cycles with our extreme fast charging cells solidifies StoreDot's position at the forefront of battery technology innovation for electric vehicles. This milestone achievement validates the exceptional long-term performance and reliability of our silicon-dominant XFC batteries as we rapidly progress toward commercialization. StoreDot continues to set the pace, consistently meeting our milestones and delivering on the promise of providing car manufacturers with a reliable, proven extreme fast charging solution aligned with their zero-emission goals and timeline."

StoreDot recently announced its anticipated milestones for 2024. These include demonstrating the world's first EV pack equipped with XFC technology, shipping prismatic B-samples to OEMs, signing strategic manufacturing agreements and expanding operations in the US on the path toward commercialization.

StoreDot is on track with production-readiness of XFC cells that can deliver 100 miles charged in 5 minutes this year. The company aims to deliver 100 miles charged in 4 minutes in 2026 and 100 miles charged in 3 minutes by 2028.

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 the charging of an EV in under 10 minutes – the same experience as refueling 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 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.

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

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SOURCE StoreDot