• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 2 hours Science: Only correct if it fits the popular narrative
  • 44 mins Crazy Stories From Round The World
  • 14 hours What are the odds of 4 U.S. politicians all having children working for Ukraine Gas Companies?
  • 19 hours EU has already lost the Trump vs. EU Trade War
  • 12 hours China's Renewables Boom Hits the Wall
  • 2 days ''Err ... but Trump ...?'' *sniff
  • 3 hours Do The World's Energy Policies Make Sense?
  • 13 hours Forget out-of-date 'dirty oil' smear, Alberta moving to be world's cleanest oil industry
  • 6 hours Impeachment Nonsense
  • 1 day Pioneer's Sheffield in Doghouse. Oil upset his bragging about Shale hurt prices. Now on campaign to lower expectations, prop up price.
  • 1 day Tesla Launches Faster Third Generation Supercharger
  • 18 hours Water, Trump, and Israel’s National Security
  • 2 days Passerby doused with flammable liquid and set on fire by peaceful protesters

Breaking News:

Russia Plans To Boost Crude Oil Exports

BP Funds Fast-Charging Battery Maker

Energy storage

BP Ventures has provided US$20 million in funding to an Israeli startup that makes ultrafast-charging batteries, which aims to make it possible for electric cars to charge in just five minutes—in a time comparable to filling a tank with gas, the supermajor said today.

“Ultra-fast charging is at the heart of BP’s electrification strategy. StoreDot’s technology shows real potential for car batteries that can charge in the same time it takes to fill a gas tank,” BP Downstream’s chief executive Tufan Erginbilgic said.

StoreDot has already developed an ultrafast-charging lithium-ion battery for mobile devices, and now plans to use the technology for car batteries. The mobile devices battery should become commercially available next year, but there is no timeline for the car battery.

Charging times are one of the biggest challenges on the road to widespread EV adoption, about as big as the reliability of batteries. The fact that too-fast charging can kill the battery only aggravates these challenges. Also, lithium-ion battery technology has recently gained negative attention because of the inherent risk of combustion, which could cause the vehicle to explode.

Despite these challenges, lithium-ion batteries continue to be the dominant ones on the market. As oil majors reorient their priorities towards cleaner forms of energy, they are more than willing to spend money on technologies that link their principal business with new revenue streams for the future.

Car charging is a natural focus for the supermajors. BP already has a footprint of 70 EV charging points across its global fuel station network, which may not be a whole lot, but it signals the company’s willingness to take part in the EV revolution. Also, earlier this year, the supermajor acquired a company that manufactures quick-charging systems, FreeWire Technologies, suggesting that rapid charging of electric cars is a niche that BP is particularly interested in.

By Irina Slav for Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play