Under the terms of the agreement, Italvolt will licence StoreDot's extreme fast charging technology (XFC) and intellectual property rights to manufacture XFC lithium-ion batteries at its plant in Italy. The collaboration includes an offtake agreement for StoreDot, enabling the purchase of Italvolt's batteries for its own business and customers, once production is complete.
The agreement represents a significant milestone in Italvolt's operational ambition to develop lithium-ion batteries at scale and establishes an accelerated route to market. Specifically, it reflects an alignment of ambition and timelines between the two companies and will allow Italvolt to scale and upgrade its battery cell production alongside StoreDot's technological advancements.
The industrial production of XFC lithium-ion batteries will support Italvolt's vision of creating a modern automotive industry in Italy which generates highly skilled jobs. Italvolt's lithium-ion battery production will also contribute to wider goals of green industrialisation in Europe, as the adoption of EVs and battery storage technology becomes more widespread.
“Our collaboration with StoreDot is an inflection point in our journey to deliver high-quality, lithium-ion battery cells, at scale,” said Lars Carlstrom, Italvolt founder and CEO. “Italvolt’s technology-agnostic, modular approach to production will ensure that we remain at the forefront of the industry as battery cell technology advances.”
