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Factorial to develop solid-state batteries with LG Chem

April 23, 2024

Factorial Inc., a developer of solid-state battery technology for electric vehicles, and LG Chem have announced an agreement to expedite the development of solid-state battery materials.

The companies will combine LG Chem’s battery material capabilities with Factorial’s innovative battery material and process technologies. The two companies plan to work on technology licensing and material supply upon successful completion of the project.

LG Chem, in addition to its core business of cathode materials, produces a variety of battery materials such as separators, conducting agents, and binders. The company 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 says that its proprietary FEST® (Factorial Electrolyte System Technology) solid-state batteries have the potential to significantly reduce EV weight, extend driving range, reduce charging time, and improve safety.

Factorial is a U.S.-based company developing breakthrough solid-state batteries that offer a longer range per charge and increased safety, at a cost-competitive price compared to conventional lithium-ion batteries. The company’s proprietary 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.

Siyu Huang, CEO of Factorial, said, “We are thrilled to enter into this collaboration with LG Chem. The electric vehicle industry is at the cusp of a much-needed breakthrough in battery technology, and we believe that close supply chain partnerships will help accelerate this transition. Together with LG Chem, we’re advancing the development of critical solid-state battery technology that will unlock the electric vehicle future.”