StoreDot gets $20m infusion from BP Ventures

May 24, 2018 • Robert Lavine

The investment brought the total raised by the fast-charging battery developer, which is also backed by Samsung and Daimler, to $146m.

Petroleum producer BP supplied $20m in funding for Israel-based advanced battery technology developer StoreDot on Tuesday through its strategic investment subsidiary, BP Ventures.

StoreDot has developed lithium-ion battery technology that facilitates rapid recharging, and it aims to begin selling mobile device batteries in 2019.

The company is also working on a battery for electric vehicles based on the technology that is intended to make the recharging process for cars comparable to the amount of time it takes to fill a…

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