The company makes use of nano-technology to create artificial molecules. The company stated that this method is similar to using a super-dense sponge for soaking up power and then retaining it. Although the prototype is quite bulky at the moment for smartphones, the company claims that it will be able to launch batteries for smartphones by 2016. According to StoreDot, these batteries will be able to provide power for a day after about 30 seconds of charging.
Doron Myersdorf, Founder and Chief Executive of StoreDot, said, “These are new materials, they have never been developed before.” The investors backing up the company involve Roman Abramovich as well – yes, the Russian billionaire who owns Chelsea soccer club. The ‘nanodots’ that provide for the breakthrough technology are described by the company as bio-organic peptide molecules. These molecules, basically, tweak the way that a battery acts to enable it to store and retain more power.
So far, the company has been able to acquire funds worth $48 million after two rounds of fundraising. There is a leading mobile manufacturing firm behind these funds as well, however, Myersdorf has only revealed that the company is Asian. Smartphone users will reach a total of 1.75 billion this year and therefore, this market is tempting for sure.
According to experts, StoreDot could be very possibly on its way to win the market. Zack Weisfeld, an expert when it comes to working and evaluating ventures in the mobile phone sector, said, “We live in a power hungry world … people are constantly chasing a power outlet. StoreDot has the potential to solve this real big problem. 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. A power cycle round refers to the number of times a battery can be re-charged in its lifetime.”
Myersdorf pointed out that the phones with this new battery would cost about $100-150 more than a conventional phone, while the battery will be able to process 1,500 recharg/discharge cycles implying that it will have a life of 3 years. So, how many of you would be interested in such batteries making it to the market?