About Factorial Energy
Factorial Energy develops solid-state batteries, focusing on the automotive sector. Their main product, the Factorial Electrolyte System Technology (FEST®), offers a safer, more efficient battery with higher energy density compared to traditional batteries. This technology is designed for integration into electric vehicles (EVs) by major auto manufacturers and battery producers. Factorial Energy distinguishes itself through strong collaborations with these manufacturers and suppliers, ensuring their technology meets industry needs. The company's goal is to lead the EV battery market by providing advanced battery solutions that enhance vehicle performance and safety.
Woburn, MassachusettsHeadquarters
2013Year Founded
$242.2MTotal Funding
SERIES_DCompany Stage
Automotive & Transportation, EnergyIndustries
51-200Employees
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
401(k) Company Match
401(k) Retirement Plan
Education Assistance Plan
Short-term Disability Insurance
Long-term Disability Insurance
Risks
Intellectual property theft is a concern in the battery technology sector.
Rapid technological advancements could render Factorial's FEST® system obsolete.
High production scaling costs may strain Factorial's financial resources.
Differentiation
Factorial's FEST™ technology offers higher energy density than traditional batteries.
The company collaborates with major OEMs like Mercedes-Benz and Stellantis.
Factorial's new factory in Massachusetts is the largest solid-state battery facility in the US.
Upsides
Growing interest from automotive giants indicates strong market demand for Factorial's technology.
Partnership with LG Chem could enhance battery performance and reduce costs.
Recent expansion in Methuen positions Factorial to scale up production effectively.
Funding
Total raised$242.21 M
Latest valuation$1.00 B
StageSERIES_D
SERIES D
12/31/2021- NYSERDA
- Gatemore Capital Management
- WAVE Equity Partners
- Ithaka Partners
- North Sky Capital
- Mercedes-Benz Capital
- Hermitage Capital
- Hyundai Motor Company
- Carbon to Clean
- NXT Ventures
- Stellantis Ventures
- US Department of Defense
- Fraser McCombs Capital
- Eden Rock Capital Management LLP
- Helios Climate Ventures
- Mercedes-Benz Group
- Kia Motors
- Stellantis
- Dynavolt Renewable Energy Technology
$200
$1.00 B$40
$200.00 M