BP invests €17mn in battery charging disruptor StoreDot

By Johan De Mulder

BP has committed €17mn to an investment in the ultra-fast battery charging company StoreDot.

The energy giant released a statement on Tuesday confirming its new stake in the Israeli firm, which has established itself in the market through the development of lithium ion-based battery technology which enables ultra-fast charging for the mobile and industrial markets.

According to StoreDot, it is now using this technology to develop an electric car battery that can be fully charged in a similar timeframe to what it takes to fill up with fuel.

See also:

BP is working across the supply chain to support the development of the technologies and infrastructure required to support that growth, believing that ultra-fast charging will be key in accelerating the adoption of EVs worldwide. 

"Ultra-fast charging is at the heart of BP’s electrification strategy," said its CEO for Downstream, Tufan Erginbilgic. "StoreDot’s technology shows real potential for car batteries that can charge in the same time it takes to fill a gas tank.

"With our growing portfolio of charging infrastructure and technologies, we’re excited by our opportunities to develop truly innovative EV customer offers. We are committed to be the fuel provider of choice – no matter what car our customers drive."

Dr Doron Myerdorf, co-founder and CEO of StoreDot, added: "Working closely together with a global energy leader is a significant milestone in StoreDot’s direction of strengthening the EV ultra-fast charging eco-system."


Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore


The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy