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November 26, 2014 11:54 am

Israeli Company Making Fast-Charging Battery for Phones and Electric Cars

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StoreDot's new batteries will be able to charge a mobile phone in seconds. Photo: Wikimedia Commons. – The Tel Aviv-based company StoreDot says it has technology that can charge a mobile phone in seconds, through a battery that can store a higher charge at a much faster rate.

Working like a sponge, the battery can soak up power using “nanodots,” which change the way a battery behaves, making it absorb power quicker and retain it. The battery can also be used to power electric cars in minutes.

“These are new materials; they have never been developed before,” said Doron Myersdorf, the founder and chief executive of StoreDot, Reuters reported.

Based on a prototype, StoreDot says the first battery will be available in 2016. The Israeli company is partly funded by Russian billionaire and Chelsea soccer club owner Roman Abramovich, and has also raised $48 million from two rounds of fundraising, including from an Asian mobile phone company.

“We live in a power-hungry world. … People are constantly chasing a power outlet. StoreDot has the potential to solve this real big problem,” said Zack Weisfeld, an evaluator of business ventures in the mobile phone market.

“They still have some way to go, to deal with size of battery and power cycle rounds, but if solvable, it’s a very big breakthrough,” he said.

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