Factorial Energy, a start-up solid-state battery technology company, emerged from stealth mode with a 40Ah solid-state battery cell for electric vehicles (EVs) and other applications. Factorial also announced the appointment of senior industry leaders with deep technical and automotive experience to its leadership team.
Factorial Energy is naming 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 $40 million, which will enable the company to scale commercial sampling over the next two years. The company’s investor base includes former President and CEO of 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.
Factorial’s Factorial Electrolyte System Technology (FEST) is a proprietary solid electrolyte material that 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 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, according to the company.
Several major global automotive partners are currently validating Factorial’s technology with the intent of integrating FEST into their existing supply chains.
Factorial was founded by Héctor Abruña, Professor and former Chair of Chemistry at Cornell University and Siyu Huang, who is currently the CEO. Dr. Huang received her PhD in Chemistry from Cornell, and was also the founder of Lionano Inc.