StoreDot To Go Public Via Andretti Acquisition Corp. II SPAC Merger, Forming "XFC Battery" To Commercialize Extreme Fast-Charging EV Technology

• Eliminating Charging Anxiety: The combined entity will focus on commercializing StoreDot's XFC batteries to solve the #1 consumer pain point in the electric vehicle space: long charging times. The combined entity intends to eliminate range and charging anxiety, leveraging StoreDot's proven Extreme Fast Charging - XFC - technology.
  
   
• Significant Market Opportunity: The combined entity targets the rapidly expanding EV battery market. StoreDot believes that it is positioned to capture significant market share by addressing the primary barrier to EV adoption: charging speed.
  
   
• Scalable, Asset-Light Business Model: StoreDot employs a capital-efficient licensing model designed to be a "drop-in" solution compatible with existing Lithium-ion production lines. This accelerates the path to mass-market adoption and commercial deployment, eliminating the need for new manufacturing infrastructure.
  
   
• The combined company will be led by Dr. Doron Myersdorf as Chief Executive Officer and StoreDot's highly experienced management team.
  
   
• The transaction values StoreDot at a $800 million pre-money equity value, with existing StoreDot shareholders, optionholders and warrantholders rolling over 100% of their equity, and the pro forma enterprise value is currently expected to be $882 million (assuming no redemptions by Andretti's public shareholders).

Herzliya, Israel and Alpharetta, Georgia, USA, Dec. 03, 2025 (GLOBE NEWSWIRE) -- StoreDot Ltd., an Israeli company ("StoreDot"), a pioneer and leader in Extreme Fast Charging (XFC) battery technology for electric vehicles (EVs), and Andretti Acquisition Corp. II (NASDAQ:POLE), a Cayman Islands publicly traded special purpose acquisition company ("Andretti"), today announced they have entered into a definitive business combination agreement (the "Business Combination Agreement") for a business combination between Andretti and StoreDot under a newly formed holding company (the "Business Combination"). The holding company will be named "XFC Battery" ("Pubco") and its shares are expected to be listed for trading on the Nasdaq Stock Market LLC. StoreDot's patented XFC technology is a proven, production-ready solution capable of delivering 100 miles of charge in just 5 minutes, with a clear plan and roadmap to 100 miles of charge in 3 minutes. This groundbreaking capability is essential for making the EV experience as convenient as refueling a gasoline car. StoreDot has built significant commercial traction, actively engaged in B-sample development and validation programs with leading global OEMs. This deep-seated industry validation and collaboration underscore the technology's readiness for mass production, utilizing existing battery manufacturing infrastructure.