StoreDot says its battery gave an electric scooter full charge in just five minutes.

Israel's StoreDot is making major headway in its bid to charge up devices in a matter of minutes with new battery technology.

The Herzliya-based start-up's lithium-ion battery on Tuesday managed to recharge an electric scooter from Spanish firm Torrot in just five minutes.

It completed the demonstration alongside oil major BP, a strategic backer of the company. The companies claim this is the first time an electric two-wheeler has been charged in such a short amount of time.

"What we are demonstrating with the scooter is the capability of the technology," Doron Myersdorf, StoreDot's CEO, told CNBC in an interview Tuesday.

Myersdorf added it's the first time the company has showed off five-minute charging with a battery pack containing so many cells — this one contains 168 in total.

In addition to BP, StoreDot also counts Mercedes owner Daimler and tech giant Samsung as investors. It previously attracted headlines with its cell phone battery which, again, boasts five-minute charging.

"We are developing a new generation of lithium-ion batteries," said Myersdorf. "More specifically, we are eliminating the use of graphite in the battery."

The company's chief explained that the reason behind taking graphite out of the equation is that the mineral doesn't work as well at charging devices quickly.