StoreDot, The Extreme Fast Charging Battery Pioneer, Appoints Global Advisory Board to Advance Mission Towards Universal EV Adoption

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HERZLIYA, Israel, July 1, 2021 /PRNewswire/ -- StoreDot, the pioneer and leader of extreme fast charging (XFC) battery technology for electric vehicles, has announced the formation of a Global Advisory Board. The new multi-skilled board will be crucial in supporting StoreDot's mission to provide technologies that transform consumers' charging experience and eradicate range anxiety, enabling automotive manufacturers to accelerate a seamless and rapid transition to a zero-emissions electrified future.  

The StoreDot Advisory Board will be led by Dr David Gilmour, StoreDot's executive Chairman and formerly Global Head of BP Ventures. It will be providing expertise in battery science, electric vehicle infrastructure, automotive industry integration and strategic funding. The Advisory Board will help guide StoreDot's leadership team as it scales up to commercialize its technology and supply car makers with mass produced, fast charging battery technologies, helping them to overcome their customers' range anxiety concerns – currently a major barrier to EV ownership. StoreDot's XFC batteries, which deliver a 50% reduction in charging time at the same cost, are already being tested by major automotive companies.

StoreDot's Advisory Board members will include Dr Dennis Nobelius, COO of Polestar, the electric performance car brand founded by Geely and Volvo Cars, focused on accelerating the change to a sustainable future. Dennis joined Polestar from sister brand Volvo where he held a number of senior roles over a 14-year career and will bring a wealth of knowledge to the board on OEM integration. To help advise on the battery commercialization aspects of StoreDot's vision, the appointment of Joseph Walicki, former CEO and Vice Chairman of Clarios, (Formerly Johnson Controls-Power Solutions Division) − the world's largest automotive battery company serving customers in 150 countries - will be instrumental. Other foundation board members who all bring with them a range of relevant and important experience include Roy Williamson, a global future-mobility and EV infrastructure expert and, formerly, Vice President of BP Advanced Mobility, Professor Doron Aurbach, the world-renowned electrochemist and pioneer of electro-mobility, and Joel Maryles, a financial industry expert, having held senior positions in both investment banking and venture capital.

Dr Doron Myersdorf, StoreDot CEO: "Our world-leading extreme fast-charging battery technology is essential for automotive manufacturers to develop EVs that overcome range and charging anxiety. We're offering a clear technology roadmap ranging from the silicon-based XFC technology to next generation XED, extreme energy density, solid-state technologies. With the active support and previous experience of our newly formed Global Advisory Board we plan to execute on this unique roadmap accelerating the adoption of EVs aligned with our clear vision of a cleaner, zero-emissions world.

"The formation of our Advisory Board is a major step forward as we rapidly move to our next phase of development and on to commercialization of our first automotive batteries for electric vehicles as early as 2024."

Dr David Gilmour, StoreDot Executive Chairman: "Extreme fast charging for electric vehicles is fundamental to their mass adoption and usability for millions of drivers worldwide. StoreDot has the vision, ambition, capabilities and technologies to partner with global automotive companies, enabling them to overcome this crucial barrier. This is essential to fulfil a zero-emissions future, creating a better world for everyone.

"The formation of the Advisory Board, which I am honored to lead, is another key milestone in StoreDot's plan to introduce an extreme fast charging solution in the near future. With our shared vision, we are laying strong foundations to scale rapidly and meet the increased demand for electrified vehicles."

The Advisory Board is the latest milestone for StoreDot which was founded in 2012 in Israel. In 2019, StoreDot's XFC battery was publicly demonstrated in the world's first full live demonstration, charging an electric scooter in just five minutes. Last month it announced a framework agreement with EVE Energy to support the commercialization and mass production of XFC batteries by 2024.

About StoreDot:

StoreDot is a pioneer and leader of extreme fast charging (XFC) batteries that overcome the critical barrier 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, making it possible to fully charge an EV in just five minutes – the same time it takes to refuel a conventional combustion engine vehicle. StoreDot's battery technology is optimized for best driver experience with XFC in Li-ion batteries, as well as future technologies for extreme energy-density (XED). StoreDot's strategic investors include BP, Daimler, Samsung Ventures and TDK. In 2019, the company achieved a world first by demonstrating the live full charge of a two-wheeled EV in just five minutes. In 2020, the company demonstrated the scalability of its XFC batteries for other industries, by fully charging a commercial drone in five minutes in another world first. Moving XFC battery technology from the lab to a commercially-viable product for the first time, StoreDot has launched engineering samples of its first-generation batteries that are designed to be manufactured at scale on traditional Li-ion production lines.

For more information see: www.store-dot.com.

SOURCE StoreDot