Roman Abramovich invests $10-million in Israel’s StoreDot

Nanotechnology startup wowed world with 30-second mobile phone charger plans.

storedotRussian billionaire Roman Abramovich, owner of London’s Premiere League Chelsea FC, has invested $10 million in nanotechnology startup StoreDot, according to a report by the Wall Street Journal.

StoreDot, which is developing electronics based on bio-organic materials, wowed the world in April with its 30-second nano-dot prototype battery set for mobile phones.

The WSJ report says Abramovich’s private asset management company Millhouse carried out the investment in May.

StoreDot told the WSJ it plans to raise an additional $20-30 million in the coming months, and to use the proceeds to establish a US R&D center to take its developments to production level.

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About Viva Sarah Press

Viva Sarah Press is an associate editor and writer at ISRAEL21c. She has extensive experience in reporting/editing in the print, online and broadcast fields. Her work has been published by international media outlets including Israel Television, CNN, Reuters, The Jerusalem Post and Time Out.