Put this one in the “If it can do what they claim, it really will be revolutionary” category. Israeli battery developer StoreDot says its EV FlashBattery can charge a 300-mile battery in 5 minutes – almost 10 times faster than today’s state of the art.

In 2014, StoreDot demonstrated the FlashBattery, which it says can charge any smartphone in just one minute, and can last for thousands of charge/discharge cycles.

The company raised $18 million in its latest funding round, bringing total investment in the startup to $66 million. It intends to use its new funding to enter the EV market.

The company’s new EV FlashBattery contains around 7,000 cells, and has a capacity of 80 kWh, enough to power nearly 300 miles of driving.

“It is typically easier to charge faster and to manage the health of the cells when they are smaller,” explains founder and CEO Dr. Doron Myersdorf. “This is similar technology to what Tesla has done with Panasonic cells.”

The secret behind the astounding charging rate is a hybrid multifunction electrode (MFE), which enables the FlashBattery to combine two types of energy storage, incorporating the high-power rapid-charging capability of a supercapacitor with the high energy density of a Li-ion battery.

Does that speedy charging ability result in shorter battery life? On the contrary, says StoreDot – its FlashBattery offers “four times more charge/discharge cycles compared to any existing battery. Using compounds that are less likely to metalize during these cycles, FlashBattery eliminates the risk of an internal electrical short almost entirely, which significantly prolongs battery life expectancy.”

Oh, by the way, it’s also safer, greener and cheaper:

“The FlashBattery contains non-flammable organic compounds encased in a multi-layer safety-protection structure that prevents over-voltage and heating, and is therefore considerably safer than traditional LiBs.”

“In contrast to other batteries that contain toxic heavy metals, StoreDot’s materials leave a minimal environmental footprint.”

“StoreDot’s organic and polymer electrode raw-material compounds are readily available and reduce the overall cost of the battery.”

Sources: StoreDot, Geektime, Neowin