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Daimler AG’s Trucks division said it is investing in Tel Aviv-based Israeli nanotechnology materials pioneer, StoreDot Ltd., one of the leading companies for electric charging and energy-storage materials, disclosing that a representative from Daimler will be appointed to StoreDot’s Board of Directors.
A statement issued on Monday by Daimler Trucks said to complement the investment, both partners have agreed to a strategic partnership that focuses on the field of fast battery charging.The investment, which is in furtherance of Daimler Truck’s commitment to customer-centric electric vehicles, will now position Daimler as a strategic partner to accelerate the adoption of FlashBattery technology to the Electric Vehicles market. FlashBattery technology enables charging any electric vehicle as quick as filling a tank of gas and StoreDot’s FlashBattery technology enables charging of an electric vehicle to be done within minutes just like 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. This results, together with faster charging times, in 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 Trucks division, is part of both companies’ future discussions.
Commenting on the partnership, Martin Daum, Member of Daimler’s Board of Management with responsibility for Daimler Trucks & Buses, said: “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, provides 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.”
For Dr. Doron Myersdorf, Co-Founder and CEO of StoreDot, “Having Daimler, a world leader in the automotive field, 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 demonstrated the viability of a concept for five-minute charging of vehicle batteries, showcasing how its new organic compounds combined with nanomaterials are implemented in the battery cell. StoreDot’s new batteries are currently in an advanced stage of development and are expected to be integrated into electric vehicles that are now in their design phase.
Founded in 2012, StoreDot Ltd. is also 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.
