StoreDot and Eve Energy sign production agreement
It is important to distinguish between the XFC cells that Eve Energy will manufacture directly for StoreDot and the XFC cells that Eve Energy will manufacture under the licence agreement. For the latter, Eve Energy will be responsible for distribution and can supply its own customers. The production capacity that StoreDot has now secured is intended for supplying StoreDot customers.
The partnership between the two companies started in 2017. It was subsequently announced in 2021 that Eve Energy would commercialise the fast-charging “XFC-FlashBattery” developed by StoreDot with a silicon-dominant anode – i.e. build it in series – in 2024.
The schedule is only indirectly confirmed in the current press release. “Through its ‘100inX’ product roadmap, StoreDot remains on track with production-readiness of XFC cells that can deliver 100 miles charged in 5 minutes this year, 100 miles charged in 4 minutes in 2026 and 100 miles charged in 3 minutes by 2028,” it says in the press release.
As the Israelis have secured “access to EVE’s extensive manufacturing footprint and the ability to mass produce its game-changing 100in5 extreme fast charging battery cells,” the production-ready “100in5” cells will also likely be built this year.
StoreDot presented its strategic technology roadmap “100inX” in March 2022. The first stage, “100in5,” is planned for 2024 and will be able to recharge electricity for those 100 miles or 160 kilometres in five minutes. At that time, the “100in3” technology (i.e. recharging 160 kilometres in 3 minutes) was announced for 2028, which will be solid-state cells with an energy density of around 450 Wh/kg. As recently as this February, it was announced that 1,100 cycles had been achieved for the “100in4” cell.
In addition to the cooperation and licensed production with Eve Energy, StoreDot also aims for further partnerships, as emphasised in the current press release. It is already known that there is a licence agreement with VinES and that Italvolt is also interested in a partnership with StoreDot.
Amir Tirosh, COO StoreDot, describes the new agreement with Eve Energy as a “pivotal inflexion point for StoreDot.” He adds: “We now have the agreement for captive capacity, and it gives us the ability to implement our ambition for mass production of our extreme fast charging cell technologies. This will allow us to serve our customers who do not have their own manufacturing capability.”
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