After completing a round of funding for a new EV business unit, StoreDot might just be able to deliver on its vision of EVs that can receive a full charge in just five minutes.

StoreDot's FlashBattery technology relies on "nanodots", which are comprised of bio-organic peptides whose raw materials are abundant in nature and also self-assemble, making for a more affordable product. These form the basis of a multi-function electrode that allows for supercapacitor-like rapid charging, with a slow discharge more like a lithium-ion battery.

The concept still includes lithium components in the cathode, but the company claims that its modified anode and cathode and a proprietary electrolyte and separator are responsible for the incredible recharge speeds.