What if you could charge your smartphone in seconds? Or, if you could charge an entire electric car in just minutes? Wouldn’t you buy that technology? If you would, you may be interested to know that an Israeli startup claims to have invented technology that can both charge a smartphone in seconds and charge an electric car in minutes.

The company is called StoreDot, and this is what you need to know about the future of charging things.

StoreDot’s Technology

StoreDot uses Nanotechnology to make speedy charging a reality. This technology allowed StoreDot to create a battery that is capable of storing a higher charge faster. The result is a charging device that only requires a few moments of user time in order to charge anything that needs to be recharged. Right now, the battery that StoreDot has developed is on the very bulky side, so the company is holding off on making the battery available to the public, but StoreDot predicts that a faster way to charge your cellphone will be ready to purchase by 2016.

StoreDot is currently in its startup phase, though the company has already managed to raise $48 million in funding, which is no shabby amount. StoreDot’s biggest backer is an Asian cellphone manufacturer, though the exact name of that company has not yet been revealed. If and when StoreDot can reduce the size of the battery that it’s currently developing, the potential could be huge.

Quick Charging

Right now, cellphone users are constantly looking for wall space, so that cellphones can be quickly charged. But, the need to search for wall space would dissipate if a company like StoreDot can come up with a battery that can charge a device anywhere you happen to be, and do it all in a few minutes. StoreDot’s technology would eliminate the need for outlets, and that’s a big deal.

StoreDot plans to create a battery similar to the cellphone creation that can work with electric cars. Were a car battery of this kind available, electric car owners could easily charge cars faster and for a longer period of time. This, in turn, would revolutionize the electric car market. As you can see, there’s a good reason why StoreDot has already raised millions, and is getting the attention of many different types of media right now.

Leaps and Bounds

Presently, it takes approximately thirty minutes to charge any device, and many hours to charge an electric car. Batteries that could accomplish any charging task in minutes or seconds means that the world can really get rid of the need to find an electrical outlet and wait for hours to charge anything from a phone to a car.

StoreDot’s 2016 deadline seems to be optimistic, but the world will certainly welcome a battery of this kind. While you can’t buy a StoreDot battery right now, the technology is well underway. In the 2016, trying to find an outlet to charge your phone or car, and waiting a long time for that charge, might be a thing of the past.