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BP Invests in StoreDot’s Ultra-Quick-Charge EV Battery
Energy company BP plc is investing $20 million in StoreDot Ltd., an Israeli developer of a lithium-ion “flash” battery for electric cars that can be charged in five minutes.
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Energy company BP plc is investing $20 million in StoreDot Ltd., an Israeli developer of a lithium-ion “flash” battery for electric cars that can be charged in five minutes.
Previous investors in the Tel Aviv-based company include Daimler and Samsung. Last year Daimler’s Mitsubishi Fuso Truck and Bus unit announces it plans to introduce an all-electric Canter delivery van by 2021 that features the new battery.
StoreDot says its technology combines nano-materials and proprietary compounds arrayed in hundreds of multi-layered cells. The resulting configuration can accept energy at a rate that provides 60 miles (97 km) of vehicle travel per minute of charging time, according to the company.
The developers say their design requires mostly standard processing machinery and delivers “extended” battery life. StoreDot hopes to commercialize the technology for mobile phones next year.
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