Factorial, a developer of solid-state battery technology for electric vehicle (EV) applications, and LG Chem, a global leader in battery materials, signed a memorandum of understanding (MOU) to accelerate the development of solid-state battery materials.

The agreement aims to strengthen cooperation in the field of next-generation battery materials and secure future competitive advantage by combining LG Chem’s battery material capabilities and Factorial’s next-generation battery material and process innovations.

Upon successful completion of the project, the two companies agreed to further discuss technology licensing and material supply to maintain a strategic partnership for market leadership.

Through this collaboration, we will become technology leaders in the field of next-generation batteries. We expect to secure solid-state materials through Factorial's accumulated experience in next-generation batteries and LG Chem's superior material technology.

—Jong-ku Lee, CTO of LG Chem

In addition to its core business of cathode materials, LG Chem produces a variety of battery materials such as separators, conducting agent and binder, and is actively conducting R&D and external collaborations to strengthen its R&D capabilities for new materials in response to changes in next-generation battery technology.

Factorial’s proprietary FEST (Factorial Electrolyte System Technology) solid-state batteries have the potential to reduce EV weight, extend driving range, reduce charging time and improve safety.

FEST leverages a solid electrolyte material, which has the potential to enable safe and reliable cell performance with high-capacity cathode and anode materials. FEST has been scaled in 100+ Ah cells, works at room temperature, and is compatible with existing lithium-ion battery manufacturing equipment.

The company has entered into joint development agreements with Mercedes-Benz, Stellantis, and Hyundai Motor Company.