Factorial Energy
Factorial Energy, founded in 2013 out of Cornell University, specializes in high-performing, safe solid-state batteries with their proprietary FEST® technology. The company operates globally and aims for carbon neutrality by mid-2030, holding over 100 patents and ranking among top deep tech and tech power companies.
Company Overview
Factorial Energy is a company committed to building sustainable solutions along the entire battery value chain. Founded in 2013 out of Cornell University, the company emerged from stealth in 2021. Headquartered in the US, it also has operations in Germany, Korea, and Japan. Factorial Energy is recognized for its commitment to diversity, with over 70% of employees from racial and ethnic minorities, and more than 50% of its workforce being millennials and over 30% Gen Z. The company aims to achieve carbon neutrality by mid-2030.
Innovative Battery Technology
Factorial Energy delivers high-performing, safe solid-state batteries and has introduced the Factorial Electrolyte System Technology (FEST®) for next-generation battery solutions. FEST® combines a lithium-metal anode, quasi-solid electrolyte technology, and a high-capacity cathode, making it compatible with a wide range of cathode and anode materials. This technology is used across various applications including electric vehicles, commercial trucks and equipment, e-mobility, eVTOL, aerospace, and marine.
Patents and Recognitions
Factorial Energy holds over 100 patents and patent applications for its solid-state battery technologies. It has been ranked #25 in the Top 100 Private Deep Tech Companies and #24 in the Tech Power Players 50. These recognitions highlight the company's significant contributions and innovations in the battery technology sector.
Partnerships and Market Presence
Factorial Energy has strategically partnered with companies like Young Poong for lithium-metal recycling, emphasizing its commitment to sustainable practices. The company is actively simplifying and regionalizing its supply chain by focusing on local sourcing. Its batteries can be manufactured with minimal modifications to existing advanced battery facilities, broadening its market reach. By 2040, the total addressable market for EV cells is estimated at $250 billion.
Recent Developments and Expansion
In October 2023, Factorial Energy opened a new manufacturing facility to house the largest solid-state battery line in the US. The company announced its expansion into Europe in March 2023 and operations in Japan in December 2022. Additionally, it has shipped A-Samples of 100+Ah lithium-metal solid-state batteries to its automotive partners and earned UN 38.3 certification to ship 100Ah lithium-metal solid-state batteries. At CES 2023, Factorial Energy unveiled a 100+ Ah solid-state battery cell.