Factorial Energy

Factorial Energy Raises $200 Million For Solid-State Battery

Since its discovery in the early nineteenth century, solid-state technology has been spinning its wheels. It now has a chance to break free, thanks to advances in contemporary materials science and high-tech analytical techniques.

Over the last several years, researchers across the globe have been hammering away at solid-state energy storage technologies, with a primary emphasis on formulas that reach the appropriate amount of conductivity at ambient temperature.

That takes us to Factorial Energy, one of many solid-state firms formed when its unique energy storage technology FEST™ (Factorial Electrolyte System Technology) attracted the attention of Daimler (think Mercedes-Benz) and Stellantis (Dodge, Fiat, Chrysler, etc.).

This is in addition to the desire exhibited last spring by Kia and Hyundai, and FEST hasn’t even entered the market yet. There must be something to it, given that Mercedes-Benz and Stellantis N.V. lead Factorial’s recent $200 million fundraising round.

Factorial Energy’s solid-state battery technology is safer and provides up to 50% more driving range than lithium-ion technology currently available. Its plug-and-play compatibility with current lithium-ion battery production infrastructure significantly decreases the cost and complexity of transitioning to a new battery technology for automakers.

Factorial Energy

FEST…utilizes a patented solid electrolyte composition that permits safe and dependable cell operation at room temperature with high-voltage and high-capacity electrodes.

Reference- Globe Newswire Feed, Inside EVs, Factorial Energy website & PR, EV Obsession