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October 4, 2021

StoreDot expands Asia reach through Yozma investment

Investment provides StoreDot opportunity to engage with manufacturers in South Korea

By Simon Warburton

StoreDot is expanding its reach in Asia, through investment partner, Yozma Group.

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Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
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  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
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Yozma specialises in supporting tech start-ups, particularly from Israel and the Asia region.

For StoreDot, the new investment provides the opportunity to engage with automotive manufacturers headquartered in South Korea, which are taking a role in the development of EVs.

“StoreDot’s extreme fast-charging battery technology is essential for automotive manufacturers to impede the challenges faced with EV adoption,” said StoreDot CEO, Doron Myersdorf.

“Our technology reduces range and charging anxiety by providing the driver with more miles per minute of charging. We’re offering a clear technology roadmap ranging from the silicon-based XFC technology to next generation extreme energy density, solid-state technologies.

“Having a presence in South Korea is strategically critical, due to its globally renowned automotive industry and leading domestic brands. We expect this new investment to help foster key relationships as we continue to execute our roadmap to accelerate the adoption of EVs, aligned with our vision of a cleaner, zero-emissions world.”

For his part, Yozma Group head of Asia Pacific, Wonjae Lee, added: “We’ve long been in talks with StoreDot, as we’ve been impressed by its innovative technology and the growth potential. We’re more than happy to support the company during this phase on its mission to mass produce its XFC batteries by 2024 and the next generation, solid-state technology by 2028.

“The company is leading the way in battery technology with its silicon Li-ion battery cell design and the next few years will be a pivotal time, which we hope to be able to support and help leverage in Korea and across Asia.”

The Yozma Group partnership represents a step in StoreDot’s work in extreme fast charging lithium-ion batteries for use in the automotive sector.

The company is in advanced talks with many global car makers and maintains it remains on track to deliver mass-produced XFC batteries, which deliver a 50% reduction in charging time at the same cost, by 2024.

The company has a roadmap where it is working on next-generation XED, extreme energy density solid state technologies, which will enter mass production in 2028.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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