According to media reports, Tesla Quick Charger now charges its electric car batteries for 170 miles (274 kilometers) in 30 minutes. If the Israeli start-up StoreDot meets its goal, the electric car can travel hundreds of miles after just five minutes of charging.
Figure 1: A fast-charging battery developed by Israeli startup StoreDot
StoreDot, a three-year-old start-up, said on Wednesday that it had invested 18 million U.S. dollars in the investment arm of Korean electronics giant Samsung and Russian investor Roman Abramovich. As of today, StoreDot has raised a total of $ 66 million and plans to fund the latest financing for the development of its fast-charging battery for electric vehicles.
Many companies are trying different ways to improve the performance of batteries for electric vehicles. Tesla and Panasonic, for example, are focused on making lower-cost batteries that can hold more charge per charge. In addition, there are other companies that set up electric car charging stations in shopping malls and corporate car parks to enable drivers to charge when needed.
Batteries are the most expensive part of electric vehicles. According to current technology, the battery can last up to 265 miles (426 km) when fully charged. If you use a standard charger, the most advanced battery will take hours to fill. If you use a DC charger (a much more expensive and faster charger), these batteries still take more than 30 minutes to fill.
The limited adoption of electric vehicles is due in part to concerns about the slow and cumbersome charging methods. Of the 16.5 million new cars sold in the United States last year, only 118,000 were electric cars.
StoreDot, founded in 2012, is using a different approach to solving battery problems. It is developing a brand new lithium battery that is said to be fully charged in minutes. In theory, this technology allows an electric car to be fully charged in the same amount of time as a car refuel.
The company and its team of scientists used nanotechnology and new organic materials to make batteries that charge and discharge faster than standard lithium batteries.
Figure 2: The StoreDot team has 50 people, 20 of whom have doctorates
Today, StoreDot is working with several major handset makers to try out their batteries on their cell phones. Doron Myersdorf, the startup's CEO, said it expects to sign a commercial deal with a cellphone maker within a few quarters and apply its battery to consumers' phones next year.
Figure 3: Has been used in consumer mobile phones, and is expected to be applied to electric cars on the StoreDot battery
However, the research and development of electric vehicles may take longer. Even with all the best, StoreDot batteries are unlikely to complete the commercialization of their EV applications for at least five years. In addition, the variables that can appear during this period are also very large. It is a difficult task to migrate battery technology from the lab to the commercial market and it is unclear at this time whether the vehicle manufacturer will be interested in StoreDot's products.
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