StoreDot announces new framework agreement with EVE Energy to manufacture silicon-dominant Extreme Fast Charge (XFC) Battery for EVs
Israel-based StoreDot, a developer of extreme fast charging (XFC) battery technology for electric vehicles (EVs), announced a new framework agreement with its strategic battery manufacturing partner EVE Energy Co., Ltd (EVE) to support the commercialization of StoreDot’s silicon-dominant anode XFC FlashBattery for EVs.
The first prototypes will be available for testing later this year, with a plan for mass production via traditional certified lithium-ion battery manufacturing lines in 2024.
StoreDot’s FlashBattery takes a holistic approach to battery design for fast charging that includes:
Cathode: proprietary organic polymer-based compound for enhanced safety and stability;
Anode: layered nanoparticles based on metalloids, including tin, silicon, and germanium, that are embedded within an organic conductive matrix;
Electrolyte: high-voltage capability and enhanced safety by preventing dendrite through an ionic organic liquid-based electrolyte;
Data science: machine learning and artificial intelligence, along with the automated optimization of material compounds;
Cell structure: optimized thin layer coating for thermal management during fast charging; and
Electronics: dynamic charging with real-time voltage management.
The company is targeting 300 Wh/kg in the Si-rich, fast-charging cell.
EVE, which is listed on the Shenzhen Stock Exchange, is a supplier of EV and electricity storage system (ESS) batteries in China. The scope of the new framework agreement includes scale-up activities of StoreDot’s XFC technology, followed by the production of engineering samples targeted at showcasing the technology to EV clients. The framework agreement also covers the intention to set up a joint venture for mass production.
The new deal builds on the existing framework agreement signed by StoreDot and EVE Energy in 2018 to collaborate on a small form factor of StoreDot’s XFC technology. In 2019, this XFC battery was used to demonstrate a full live charge of a two-wheeled EV in just 5 minutes. In January 2021, another major milestone was reached when StoreDot released the first small form factor engineering samples of its battery produced at EVE Energy’s production facility in China.
Securing sufficient production capability is one of the biggest challenges facing any introduction of a new battery technology to market. However, from day one EVE Energy has shared our vision that XFC is fundamental to accelerate EV adoption and eventually achieve a full transition to electric mobility. EVE’s expert technical knowledge has been instrumental in helping us to reach a number of important milestones including, most recently, the launch of the small form factor XFC samples produced on standard lithium-ion battery manufacturing lines. Importantly, this removed a major barrier to achieving full commercialization of XFC technology by eliminating the need to invest in costly bespoke manufacturing equipment for mass production.
Our silicon-dominant anode battery represents the next crucial stage of our journey by bringing the charging speed, cost and range of XFC batteries in-line with the requirements of the EV industry. These capabilities will be demonstrated later this year via our first EV form factor prototype produced with EVE Energy.—Dr. Doron Myersdorf, StoreDot CEO
StoreDot’s strategic investors include BP, Daimler, Samsung Ventures and TDK.