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StoreDot Ltd. and Andretti Acquisition Corp. II Announce Signing of Definitive Agreement for Business Combination to Accelerate the EV Revolution with Extreme Fast Charging Battery Technology

1. Andretti and StoreDot announced a business combination for battery technology. 2. The deal values StoreDot at $800 million pre-money equity. 3. StoreDot aims to solve EV charging times using Extreme Fast Charging (XFC). 4. The combined entity will focus on the expanding EV battery market. 5. Commercial traction with global OEMs boosts StoreDot's market readiness.

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FAQ

Why Bullish?

The combination with StoreDot's advanced XFC technology presents significant growth potential. Historical deals in EV innovation generally lead to positive stock performance.

How important is it?

The merger directly affects POLEU's business model and market position in a booming sector.

Why Long Term?

The strategic focus on battery technology addressing EV market challenges suggests sustained growth. Successful commercialization will require time but shows promise.

Related Companies

StoreDot Ltd. Partners with Andretti Acquisition Corp. II to Transform Electric Vehicle Charging

On December 3, 2025, StoreDot Ltd. (an Israeli leader in Extreme Fast Charging technology) announced a definitive business combination agreement with Andretti Acquisition Corp. II (NASDAQ: POLEU), a special purpose acquisition company. This merger aims to revolutionize electric vehicle (EV) charging by commercializing StoreDot’s cutting-edge XFC battery technology, promising to eliminate the prevalent issue of long charging times for EV users.

Addressing Charging Anxiety with Advanced Technology

The primary goal of the combined entity is to tackle the leading concern of consumers in the EV sector: charging anxiety. Utilizing StoreDot's established XFC technology, which can deliver a remarkable 100 miles of charge in just five minutes, the partnership aims to ensure a seamless and convenient charging experience comparable to refueling conventional gasoline vehicles.

Significant Market Potential in the EV Battery Sector

StoreDot is strategically positioned to capture a substantial share of the expanding EV battery market, which has been previously hindered by slow charging speeds. By focusing on this critical barrier, the combined company plans to enhance EV adoption rates and drive growth within the industry.

  • Targeting a rapidly growing market for EV batteries
  • Addressing key hurdles to EV adoption, including charging time
  • Leveraging a capital-efficient licensing model compatible with existing Lithium-ion production

Financial Overview and Business Valuation

The business combination values StoreDot at an implied pre-money equity value of $800 million. Existing shareholders, option holders, and warrant holders from StoreDot will rollover 100% of their equity into the new holding company, expected to be called "XFC Battery." The pro forma enterprise value is projected to reach $882 million, assuming no redemptions from Andretti's public shareholders.

Andretti Acquisition Corp. II brings approximately $242 million in cash, which is subject to redemption, further supporting the strategic goals of the new entity.

Leadership and Future Prospects

The combined company will be led by Dr. Doron Myersdorf, CEO of StoreDot, alongside its experienced management team. Dr. Myersdorf emphasized the importance of this partnership, stating, “We believe this transaction fuels our ability to deliver XFC to EV drivers globally.” The management aims to expedite production and commercialization efforts, reaffirming their commitment to transforming the EV landscape.

Michael Andretti from Andretti Acquisition Corp. II added, “We see incredible momentum in StoreDot’s patent-pending technology, and together we will improve consumer access to this vital innovation.”

Regulatory and Shareholder Approvals Required

The transaction is pending approval from the shareholders of both StoreDot and Andretti Acquisition Corp. II and is subject to certain closing conditions, including regulatory approvals and financial commitments. The finalization of this merger is anticipated in the second quarter of 2026.

About StoreDot and Andretti Acquisition Corp. II

Established as a leader in XFC battery technology, StoreDot is backed by notable investors, including major automotive manufacturers like Daimler and Volvo, highlighting its industry credibility. Meanwhile, Andretti Acquisition Corp. II, comprised of sport legends such as Mario and Michael Andretti, focuses on creating value through strategic acquisitions.

Further details regarding the business combination agreement and investor presentations will be available in a Current Report on Form 8-K filed with the SEC and accessible via www.sec.gov.

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