Storedot was established by materials engineering researchers at Tel Aviv University in Israel. In 2008, it attracted attention by introducing a technology that charges smartphone batteries in 30 seconds, and in 2019, it also introduced a lithium-ion battery for scooters that can be charged in 5 minutes. In recognition of its excellent technology, it received investments from BP(British Petrolum), Samsung, Mercedes-Benz, and Yozma Group. Currently, it is speeding up the commercialization of XFC batteries that fully charge EV in 5 minutes.