Factorial Energy, which has been developing solid-state battery technology, has emerged onto the market with a 40Ah solid-state cell for electric vehicles (EVs) and other applications. The company also announced the appointment of senior industry figures to its leadership team.
“For electric vehicles to capture more than just 4% of global car sales, buyers need to see dramatic price and performance improvements in the underlying battery systems. Factorial’s solid-state battery technology offers the performance, safety, scalability and commercial readiness needed to move the needle of EV adoption. We are thrilled to be the first to reach the 40Ah benchmark for a solid-state cell, and I look forward to sharing more of our team’s successes in the months to come,” said Factorial CEO Siyu Huang. “We also are excited to add new leadership to our company as we begin our next phase of growth as a player and partner in the EV ecosystem.”
Factorial has named Joe Taylor as executive chairman. Taylor, the former chairman and CEO of Panasonic Corporation of North America, played a key role in the development of the Tesla-Panasonic relationship, which resulted in Panasonic investing in the Tesla Gigafactory in Reno, Nevada. In addition, the former chairman of the board of management of Daimler AG and head of Mercedes-Benz, Dieter Zetsche, is also joining the company’s advisory board.
Factorial’s total capital commitment to date exceeds US$40m, which the company says will enable it to scale commercial sampling over the next two years. The company’s investor base includes former president and CEO of the Ford Motor Company, Mark Fields; former senior advisor to the Obama Administration’s Presidential Task Force on the Auto Industry, Harry Wilson; and investment firms Gatemore Capital Management and Wave Equity Partners. Fields and Wilson are also joining Factorial as members of the company’s senior advisory board.
“Our batteries are unique because they achieve the broadest range of OEM performance requirements while offering superior energy density, safety and scalability,” said Taylor. “Our technology can be easily integrated into existing lithium-ion battery manufacturing infrastructure – which makes Factorial an immediately viable partner for every auto maker pursuing EVs.”
Factorial’s Electrolyte System Technology (FEST) is a proprietary solid electrolyte material that it says enables safe and reliable cell performance with high-voltage and high-energy density electrodes. FEST is safer than conventional lithium-ion technology, replacing the combustible liquid electrolyte with a safer, more stable solid-state electrolyte that suppresses lithium dendrite formation on lithium-metal anodes. Battery platforms based on FEST are claimed to yield 20-50% improvements in driving range without sacrificing pack longevity, and surpass prevailing EV battery performance standards, including those for energy density, cycle life and safety.
