Users of cell phones and other mobile devices will soon have a reason to celebrate, because it was revealed at CES 15, that there may soon be a charger that can charge their phones and other devices in less than the amount of time it takes to boil water. An Israeli startup company, Storedot, gave a demonstration of this possibility, by charging a Samsung phone that was almost out of battery power up to 100% in just a few minutes.

While this is positive news for cell phone users, there is a catch. As it currently is, the charger can’t be used to charge existing phones, because the charger will fry the phones, because it supplies 40 amps of electricity, which is too much for existing phones to handle. The phones that would be able to use this charger use a different type of battery, which contains organic molecules that are synthesized. The batteries produce a different reaction than the regular batteries used in cell phones, and the reactions allow the phones to charge very fast, because it moves ions from anodes to cathodes at speeds that weren’t possible before.

Even though the charger can’t be used right now, there is still reason for hope, because phone manufacturers from all over the world, are currently in talks to either buy exclusive rights to the technology, or license it, which means future generations of phones will be able to use the charger, and people won’t have to wait for hours for their phones to fully charge, or have to buy extra batteries for their phones.

Since their current prototype does not hold as much juice as the regular phone batteries on the market, it needs to be charged several times a day, but Storedot is working on matching the amount of energy their battery stores, compared to other lithium-ion batteries, and have set a goal to achieve it by 2017.

While there are come skeptics when it comes to Storedot’s claims of being able to charge phone batteries quicker, because there have been other companies in the past that have also claimed breakthroughs, and because Storedot’s claims haven’t been reviewed by their peers, they have raised over $48 million in funds, some of which have come from Russian billionaire Roman Abramovich, and Samsung, there is reason to believe it will happen soon.

If Storedot can manufacture new batteries that can be fully charged in only a few minutes, and can store the same amount of power that the batteries in use right now can, it will be a very big breakthrough, and make them one of the biggest names in the tech world.