StoreDot is a developer of lithium-ion (Li-ion) batteries for

electric vehicles An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes cha ...

founded in 2012 by Doron Myersdorf, Simon Litsyn, and Gil Rosenman. It is based in Herzliya, Israel. The company was founded around developing peptide-based

mobile phones A mobile phone, cellular phone, cell phone, cellphone, handphone, hand phone or pocket phone, sometimes shortened to simply mobile, cell, or just phone, is a portable telephone that can make and receive calls over a radio frequency link whil ...

displays and

data storage Data storage is the recording (storing) of information (data) in a storage medium. Handwriting, phonographic recording, magnetic tape, and optical discs are all examples of storage media. Biological molecules such as RNA and DNA are conside ...

. Throughout the years, the company reported it was ready to commercially release a peptide-based battery for mobile phones that fully charges in 30 seconds by 2016, an electric vehicle battery that fully charges in five minutes by 2020, a scooter battery based on

germanium Germanium is a chemical element with the symbol Ge and atomic number 32. It is lustrous, hard-brittle, grayish-white and similar in appearance to silicon. It is a metalloid in the carbon group that is chemically similar to its group neighbors s ...

that fully charges in under five minutes by 2021, and other batteries. None of the company's products were ever commercially released, and its claims have not been scientifically

peer-reviewed Peer review is the evaluation of work by one or more people with similar competencies as the producers of the work (peers). It functions as a form of self-regulation by qualified members of a profession within the relevant field. Peer review ...

. The company is currently developing a silicon-based electric vehicle battery which the company, as of 2022, aims to commercially mass-produce in 2024. StoreDot was valued at $1.5 billion after a $70 million funding round in 2022.

Product development

StoreDot was founded in 2012 by Doron Myersdorf, Simon Litsyn, and Gil Rosenman, initially developing displays and storage devices based on research by

Ehud Gazit Ehud Gazit ( he, אהוד גזית; russian: Эхуд Газит; zh, 以笏) is an Israeli biochemist, biophysicist and nanotechnologist. He is Professor and Endowed Chair at Tel Aviv University and a Member of the Executive Board of the Univers ...

. A year later its CEO, Myersdorf, said their peptide-based display technology is ready to be "packed and sold" and its related intellectual property could be sold for 300 million dollars. By 2019 the display technology was spun off into its own company, which as of 2022 has no employees. StoreDot reported in 2014 to have developed organic-compound peptide-based smartphone batteries capable of being fully charged within 30 seconds. The company raised over 6 million dollars in an initial investment round, and by the end of 2014 had raised another 42 million dollars. The company said its 30-second charging organic-compound-based battery would be commercially available by 2016. The company switched to

-based batteries by 2017, citing graphite-free batteries and an

electric vehicle An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes cha ...

battery that fully charges in five minutes. It raised another 62 million dollars by the end of 2017, expecting "millions of cars" to be equipped with its electric vehicle battery by 2020. The company announced in 2018 that its mobile phone battery would be commercially available by 2019, and that it had plans to build a battery factory in the United States by 2022. In 2019 it announced the commercialization of a 168- cell germanium-tin battery for electric scooters, and stated that its mobile phone products would be commercially available in late 2020 and the scooter battery would be commercially available in 2021. The company's CEO said its electric car battery would have ten times as many cells as the scooter battery, charge fast enough to add 300 miles of range in under five minutes, and have a cooling system; and that its batteries did not degrade. The company started developing silicon-based batteries in 2019 and ceased development of its germanium-based batteries in 2020. The company sent germanium sample batteries to manufactureres in place of silicon sample batteries. The company's CEO said the germanium batteries were only developed as proof-of-concept, were only meant to be sold in small quantities, and that they were never released because they weren't sufficiently differentiated from the rest of the market. In March 2022 it said a battery capable of adding 100 miles of range in 5 minutes of charging would be available in 2024.

Peer review

The company acknowledged in 2015 that its scientific claims have not been peer-reviewed. A peer-reviewed publication concluded that its claimed capabilities have no basis in published, peer-reviewed literature. John Timmer could not identify any published research about the company's battery technology and wrote that those claims "leave the realm of academic research".

Valuation

The company was in negotiations in March 2021 for a SPAC merger at a $3.5 billion valuation. A further funding round of 70 million dollars in 2022 gave it a $1.5 billion valuation.

References

{{Authority control Battery electric vehicle manufacturers Vehicle manufacturing companies established in 2012 Engineering companies of Israel Companies based in Herzliya 2012 establishments in Israel