Chakratec, an Israeli battery innovator, has developed an electric vehicle (EV) charging technology that has bypassed the need for upgrading the power grid, enabling rapid deployment of fast EV charging systems. This new system can charge a standard EV battery in 10 minutes, blowing an industry average of 4 hoursout of the water. Until now, the fastest batteries took about 30 minutes to charge, but by getting car owners on the road again in one-third the time, Chakratec achieved a remarkable accomplishment for sustainable energy.
This accomplishment comes as no surprise when you take a look at the team that came makes up Chakratec. In 2013, a strike-force of talented tech-savvy businessmen came together to shock the battery industry. A short five years later, the company won the 2017 eMove 360 degree award for Electric Mobility and Autonomous Driving, and in 2018 won the Outstanding Venture Award of the NREL Industry Growth Forum. NREL, the National Renewable Energy Laboratory, is a world leader in clean-technology. Not to mention, the 7.6 million dollars that Chakratec raised since the company has been founded.
CEO Ilan Ben-Davidsays, “The company is currently conducting pilot projects with three global energy providers that see our technology as the solution for reduced EV charging times, and a facilitator for global market penetration by electric vehicles.”
By using a flywheel battery the company will be able to cut down on traditional operating costs by nearly 70% and limit the amount of energy used. These batteries can last up to 20 years and potentially experience over 100,000 charging cycles, which is nearly four times the industry average.
Chakratec is based in Israel and recently raised money from Israel’s iArgento Group and Singapore’s Goldbell. Chakratec generated $4.4 million in this round of funding. With this much momentum building, the only thing left to do is ask, “What’s next?”
For more information and similar news, check out this piece on the implementation of flywheel batteries