[Interview] "Targeting Nasdaq Listing This Year as a Result of Korean JV"…Myersdorf, StoreDot CEO

Signed MOU for Establishing Joint Venture with JR Energy Solution
Drones and Robots as Initial Targets... Cell Assembly Outsourced to Third Party
"100% Silicon Applied to Anode... Swelling Issue Resolved"

Doron Meyersdorf, founder and CEO of StoreDot, is being interviewed by Asia Economy on the 6th. 2025.3.6

"Through a joint venture with Korea JR Energy Solution, we aim to achieve tangible results and list on the US Nasdaq within this year."

Doron Myersdorf, founder and CEO of Israeli startup StoreDot, stated this during an interview with Asia Economy on the 6th. StoreDot officially announced the establishment of a joint venture with JR Solution at InterBattery 2025 held at COEX, Seoul. The two companies plan to complete the establishment of the joint venture for their collaborative business by April 2025. The shareholding ratio of the joint venture will be 51% StoreDot and 49% JR Energy Solution.

StoreDot is a company that possesses XFC battery technology, which applies 100% silicon to the anode to increase charging speed. The XFC battery can travel 160 km with a 5-minute charge. JR Energy Solution is a specialized company in electrode manufacturing and production. Through the joint venture, the two companies plan to produce electrodes using XFC technology domestically. The final cell assembly will be outsourced to a reliable third-party partner.

Doron Myersdorf, CEO of StoreDot, and Oh Deok-geun, CEO of JR Air J Solution, are taking a commemorative photo after signing an MOU for the establishment of a joint venture on the 6th at COEX, Seoul. Photo by Yozma Group

The joint venture plans to target markets beyond electric vehicles, including drones and humanoid robots. Regarding this, CEO Myersdorf explained, "In the case of electric vehicles, the sample provision and testing period are long, requiring about 4 to 5 years until actual commercialization. We plan to first prove market viability through successful commercialization in the drone and humanoid robot sectors and then proceed with an initial public offering (IPO)." Military drones and companion robots are markets where high-speed charging technology is crucial, and they expect sufficient demand for XFC batteries.

He added, "Initially, we will use JR Energy Solution's production facilities to manufacture electrodes, and as demand increases, we plan to expand manufacturing capacity. We have already secured the necessary land." JR Energy Solution has an annual production capacity of 3 gigawatt-hours (GWh).

Before establishing the joint venture with JR Energy Solution, StoreDot announced a joint venture with China's EVE Energy last year. They are promoting the construction of a factory in Hungary with EVE Energy. Additionally, in 2023, StoreDot signed a licensing agreement with the US automotive parts company Flex-N-Gate.

During InterBattery 2025, StoreDot also signed a licensing agreement with Geumyang. Geumyang plans to produce 4695 cylindrical batteries capable of high-speed charging using XFC technology. CEO Myersdorf explained, "Establishing joint ventures or signing licensing agreements with various companies is to target diverse markets, including China and outside China, as well as automotive and non-automotive sectors."

StoreDot's XFC battery applies 100% silicon to the anode and uses NCM811 (nickel, cobalt, manganese ratio of 8:1:1) cathode materials. Silicon anode materials offer higher energy density and faster charging compared to conventional graphite anodes, but the so-called swelling (volume expansion) phenomenon has been a challenge due to instability.

Regarding this, CEO Myersdorf emphasized, "Through research over the past 10 years, we have developed technology to overcome issues such as silicon swelling, cracking, and lifespan reduction. Our customers have already verified the stability." Last year, Sweden's Polestar successfully demonstrated charging StoreDot's XFC battery in its Polestar 5 prototype from 10% to 80% within 10 minutes.

Meanwhile, the establishment of this joint venture was supported by Israel's Yozma Group, a major investor in StoreDot. So far, StoreDot has received investments from BP, Mercedes-Benz, Volvo, Polestar, VinFast, and Samsung.