Italvolt Announces Collaboration With StoreDot for Fast Charging Lithium-ion Battery Technology

Italvolt S.p.A., the company developing Italy's largest independent battery cell factory, has entered a strategic collaboration with StoreDot, a leader in extreme fast charging and energy dense lithium-ion battery technology. Under the terms of the agreement, Italvolt will license StoreDot's extreme fast charging technology (XFC) and intellectual property rights to manufacture XFC lithium-ion batteries at its plant in Italy.

The collaboration also enables StoreDot to purchase Italvolt's batteries for its own business and customers, once production is complete.

StoreDot plans to develop advanced battery cells capable of 100 miles of range in 5 minutes' charge by 2024, 100 miles in 3 minutes' charge by 2028 and 100 miles in 2 minutes' charge by 2032. 

Italvolt's battery plant will be technology-agnostic and utilise a modular production process. This approach allows the necessary flexibility and capacity to develop battery cells, in line with evolving, cutting-edge technology, thus enabling Italvolt to rapidly accelerate its route to market.

Lars Carlstrom, Italvolt Founder and CEO of Italvolt, says: "Our collaboration with StoreDot is an inflection point in our journey to deliver high-quality, lithium-ion battery cells, at scale. Italvolt's technology-agnostic, modular approach to production will ensure that we remain at the forefront of the industry as battery cell technology advances."

Doron Myersdorf, CEO of StoreDot, adds: "We are excited to be forming this strategic collaboration with Italvolt, a company that shares our ambition for the entire battery ecosystem and will be crucial for us securing European manufacturing capacity. This agreement lets us obtain captive capacity so we can guarantee supply of cells to our future OEM customers. It is extremely important that StoreDot creates these strong relationships as we rapidly move towards mass production of our extreme fast charge batteries in the coming months. Our advanced 100in5 technologies will eradicate charging anxiety which is currently the biggest barrier to widespread electric vehicle ownership."

Italvolt says its lithium-ion battery production will contribute to wider goals of green industrialisation in Europe, as the adoption of electric vehicles (EVs) and battery storage technology becomes more widespread.