StoreDot, a startup nanotechnology company in Israel, had come up with a battery charger that could fully charge drained phone batteries in a minute. Doron Myersdorf, the co-founder and CEO of StoreDot, and his team introduce a charger that fully loads up phone batteries within 60 seconds.

It uses a new technology that doesn't exist yet. "We're synthesizing new molecules designed from scratch in our labs," Myersdorf told Wired when it visited its laboratory in north Tel Aviv.

Myersdorf showed a demo using an almost empty phone battery. It went near full charge in 40 seconds. The company said it is 100 times faster than other chargers. Moreover, it could last for up to three years.

According to Bloomberg, the battery charger consists of amino acids instead of the typical lithium components. That allows quicker and safer charging.

The report said the batteries could stay in its full condition for 2000 charges which is far ahead from their lifespan with the phone chargers today.

StoreDot is a material science startup company in Herzliya, Israel. It acquired $76M Series C funds from Singulariteam, Roman Abramovich and Samsung Ventures, via Crunch Base. Myersdorf said they started working with flash memories to test which element would best fit on a specific chip. Then they experiment on organic compounds which hold the same properties required for a certain application.

The stack of batteries made up of various combinations was tested for retention. Those that passed the test were taken to the next level of examination. They create the materials, run it, test it and analyze each feedback.

Simon Litsyn, StoreDot CTO and co-founder said in the report, "We consider ourselves to be different. All companies we know are very narrow-minded, with a very good knowledge of a specific field. We put together people from different disciplines and see how they work together."

They studied areas of chemistry, physics and biology. The team consists of device and electrical engineers, physicists and chemists.

At this time, StoreDot is selling the batteries to phone manufacturers. It was estimated to cost 30 percent above the price of today's chargers which would add up $100 on phone's price. The chargers will be mass produced in 2017.