TDK Corporation and StoreDot Ltd., signed a strategic agreement for the development of fast charging battery for the mobile and accessories market. TDK Corporation is joining as an investor in StoreDot’s recent round of funding as part of the partnership.
Tokyo/Tel-Aviv, March 1st, 2018 – The nanotechnology and fast charging energy-storage technology pioneer, StoreDot Ltd., announces its strategic partnership with the Tokyo based TDK Corporation, a comprehensive electronic components manufacturer and a Li-ion cell development and leading manufacturer. The new strategic partnership is aimed to commercialize StoreDot’s flash battery technology as early as 2019.
Founded in 2012, StoreDot is leading the innovation of novel materials for energy storage. StoreDot’s flash battery technology allows Li-ion batteries to fully charge in five minutes. As part of this strategic partnership, TDK is also joining StoreDot’s $62M funding round.
“Having a world leader in the Li-ion battery market such as TDK Corporation as our strategic partner, is of significant value to StoreDot”, said Dr. Doron Myersdorf, Co-Founder and CEO of StoreDot. “Our partnership with TDK’s Corporate Innovation Group and its mass production abilities assure we can accelerate the introduction of StoreDot’s flash battery solution to the market.”
About TDK Corporation:
TDK Corporation is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's portfolio includes passive components, such as ceramic, aluminum electrolytic and film capacitors, ferrites and inductors, high-frequency products, and piezo and protection components, as well as sensors and sensor systems and power supplies. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK's further main product groups include magnetic application products, energy devices, and flash memory application devices. TDK focuses on demanding markets in the areas of information and communication technology and automotive, industrial and consumer electronics. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2017, TDK posted total sales of USD 10.5 billion and employed about 100,000 people worldwide.
StoreDot Ltd. is an innovation leader in materials and device applications, developing ground-breaking technologies based on a unique methodology for the design, synthesis, and manufacturing of both organic and inorganic compounds. Designed to replace known technologies with enhanced chemical, electrical, and optical properties, StoreDot’s proprietary compounds, inspired by nature, can be optimized for multiple industries including fast-charging batteries in mobile devices, electric vehicles and for next generation LCD displays.