Investment and Strategic Partnership: Daimler Trucks teams up
with innovation leader for electric charging StoreDot Ltd.
Stuttgart/Tel-Aviv – Daimler AG’s truck division is investing in the Israeli company StoreDot Ltd. as part of their financing round. A representative from Daimler will be appointed to the Board of Directors of StoreDot. The Tel Aviv-based company founded in 2012 is a nanotechnology materials pioneer and one of the leading companies for electric charging and energy-storage materials.
Complementing the investment both partners have agreed to a strategic partnership that focuses on the field of fast battery charging. StoreDot’s FlashBattery technology enables charging any electric vehicle within minutes as quickly as filling a tank of gas. Furthermore, FlashBattery’s high efficiency in recuperation is particularly interesting for commercial vehicles; better usage of braking energy increases the range and requires less frequent charging processes. This results, together with faster charging time, in a higher vehicle usage. Both partners will jointly work on tailor-made, integrated technologies with the future generation FUSO eCanter as a possible example of application. The possibility of further joint projects, even beyond the truck division, is part of both company’s future discussions.
Martin Daum, Member of Daimler’s Board of Management with responsibility for Daimler Trucks and Daimler Buses: “Electrification of trucks is of top priority at Daimler. Today’s global launch in New York City of the FUSO eCanter, the world’s first series-produced all-electric light-duty truck, is an impressive proof of our strive for bringing electric vehicles for everyday use to the market. Fast charging is an important topic especially for fleet owners of all Daimler Trucks brands. Together with StoreDot we will now jointly work on a holistic approach to fast charging.”
Dr. Doron Myersdorf, Co-Founder and CEO at StoreDot: “Having Daimler, a world leader in the automotive space, as a strategic partner, is of significant value to StoreDot. It will accelerate the completion of our development process and the introduction of FlashBattery to the market. Together with Daimler teams, we create synergies that optimize the characteristics of our innovative solutions with the requirements of the electric vehicles of the future.”
Earlier this year, StoreDot has demonstrated a proof of concept for five minutes charging of vehicle batteries, showcasing how its new organic compounds combined with the nanomaterials are implemented in the battery cell. StoreDot’s new batteries are currently in advanced stages of development, and are expected to be integrated into electric vehicles that are now in their design phase.
To learn more, please follow this link: https://www.youtube.com/watch?v=ZkMMxmPfWVA&feature=youtu.be
StoreDot Ltd. was founded in 2012 and is an innovation leader in materials and device applications, developing ground-breaking technologies based on a unique methodology for the design, synthesis, and manufacturing of organic compounds. Designed to replace known technologies with enhanced chemical, electrical, and optical properties, StoreDot’s proprietary technology, inspired by nature, can be optimized for multiple industries including fast-charging batteries in mobile devices, electric vehicles and for next generation LCD displays.