Solid state battery company Factorial expands into Europe
Factorial Energy, a US developer of solid-state battery cells backed by Mercedes-Benz, Stellantis and Hyundai-Kia, is coming to Europe. The company will open a European subsidy in Munich, Germany.
The solid-state battery specialist justifies the expansion by citing concerns about better serving its European automotive partners and customers, building more strategic relationships and working closely with key European suppliers and manufacturing partners. Factorial Energy also has its eye on the “region’s advanced automotive expertise and prestigious universities and institutions for future team build-out to support customer validation and testing.” Obviously, Munich and the adjacent regions are home to BMW, or Porsche, among many suppliers. And Factorial is already working with Mercedes.
The move onto the European markets follows Factorial Energy announcing operations in South Korea and Japan last year. And it now added Europe to its list. “We will be on the ground floor as the European Commission considers new regulations around battery sustainability, including the Battery Passport and Green Deal initiatives, to accelerate EV adoption. The local presence will keep us in close proximity to our automotive partners and put us in a position to manoeuvre legislative policies in Europe,” says Factorial Energy CEO Siyu Huang.
In April 2021, the company, based in Woburn, Massachusetts, presented a 40 Ah cell with solid electrolyte, supposed to help electric cars increase their range by 20 to 50 per cent. Factorial Energy published the results of the initial test runs in July 2021. According to the report, a capacity retention rate of 97.3 per cent was achieved after 675 cycles for a 40 Ah cell at 25 degrees Celsius. The company has not published any new data since then.
Factorial entered joint development agreements with Mercedes-Benz, Stellantis and Hyundai-Kia in 2021. In its most recent press release, it refers to its ‘FEST’ (Factorial Electrolyte System Technology) as “breakthrough” because it offers “longer range per charge and increased safety and aims to be cost competitive with conventional lithium-ion batteries.” Moreover, it is “compatible with existing lithium-ion battery manufacturing equipment.”
Last year, the company also began constructing a new development and manufacturing facility in Methuen, a Boston suburb. The funds for this came in part from a $200 million financing round completed in early 2022, led by Stellantis and Mercedes-Benz.
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