• Ultra-fast charging pioneer, StoreDot, forms new company to spearhead development of innovative organic MolecuLED™ wavelength conversion technology

• MolecuLED will continue to target the flat screen display market while exploring opportunities for transformative applications in industries such as horticulture and healthcare

Tel Aviv, Israel, January 9, 2019 – StoreDot, a pioneer of ultra-fast charging (UFC) technology for electric vehicles, today announces the formation of a new, independent company to drive development of its unique MolecuLED wavelength conversion technology. The new business, named MolecuLED, will focus on the continued development of the technology in the TV and large display screen market, while exploring opportunities for transformative applications in industries such as horticulture and healthcare.

StoreDot, as a leading innovator of specialized organic compounds, broke new ground with the development of MolecuLED, which is the only wavelength conversion technology that does not contain heavy metals, such as cadmium or indium, making it better for the environment and up to 95% cheaper than competing quantum dot solutions. The patented technology instead uses chemically-synthesized organic compounds which transfer one wavelength (color) to another with very high quantum efficiency, meaning the full intensity of the input color is retained. In April 2019, a major milestone was reached when StoreDot signed a licensing agreement with Nissan Chemicals Corporation to expedite the commercialization of the technology.

Speaking at the launch of MolecuLED, CEO Hezy Rotman, said: “Today there is no other technology in the market that is able to reach the processability, yield, cost, efficiency and performance of MolecuLED for in-pixel wavelength conversion in TVs and other flat screen display applications. However, MolecuLED’s unique properties mean it also has the potential to bring about truly transformative change to products and processes that people rely on for their very health and well-being – including crop production and the use of biomarkers in medical procedures. I’m incredibly excited to spearhead the next phase in development of this truly life-changing technology.”

MolecuLED is currently working with several horticultural partners to explore how the technology can be applied to boost crop production and prolong natural growing seasons – even in areas of low or poor-quality light.

“MolecuLED has the potential to revolutionize crop production simply by using natural sunlight more efficiently,” added Rotman. “Light is made up of different colors and each has a different role to play in promoting plant growth – blue, for example, is needed at the seed stage, while red light is required during flowering. By amplifying the amount of either blue or red light that plants are exposed to, at different times in the growing cycle, we can extend traditional growing seasons and increase crop yields, even in areas of low light.”

StoreDot CEO, Dr. Doron Myersdorf, commented: “While utilizing only purely organic molecules, MolecuLED wavelength conversion technology is comprised of highly innovative and disruptive compounds and solutions. As a result, MolecuLED has the potential to boost crop production by improving land utilization and using light – both natural and artificial – more efficiently, thereby helping to reduce global carbon emissions. The decision to launch MolecuLED as a stand-alone company will ensure the technology is given the focus and resources it needs to achieve mass-market penetration quickly and cost effectively.”

Hezy Rotman has over 25 years of international business experience in dynamic and competitive markets as CEO and GM. Before joining MolecuLED, Hezy served as CEO for two other start-up companies. Prior to that he was GM for Kodak’s $300 million worldwide business. MolecuLED is headquartered in Israel.