Factorial Energy

Factorial Energy

Develops solid-state batteries for electric vehicles

About Factorial Energy

Simplify's Rating
Why Factorial Energy is rated
A
Rated A on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Automotive & Transportation

Energy

Company Size

51-200

Company Stage

Series D

Total Funding

$249M

Headquarters

Woburn, Massachusetts

Founded

2013

Overview

Factorial Energy develops solid-state batteries, focusing on the automotive industry. 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 sold to major auto manufacturers and battery producers, who integrate it into electric vehicles (EVs). Factorial Energy distinguishes itself through strong partnerships with leading OEMs and battery manufacturers, ensuring a collaborative approach to production and supply chain management. The company's goal is to enhance the performance and manufacturability of EV batteries, aiming for large-scale production to meet the growing demand in the electric vehicle market.

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Simplify's Take

What believers are saying

  • Partnership with LG Chem accelerates development of solid-state battery materials.
  • New Methuen facility enables large-scale production to meet growing demand.
  • $200 million funding from Mercedes boosts R&D and production capabilities.

What critics are saying

  • Competition from QuantumScape may impact Factorial's market share.
  • High production costs could strain financial resources.
  • Dependency on OEM partnerships may risk commercialization success.

What makes Factorial Energy unique

  • Factorial Energy's FESTâ„¢ technology offers higher energy density than traditional batteries.
  • The company focuses on solid-state batteries, a safer alternative for electric vehicles.
  • Factorial collaborates with major OEMs, enhancing its market presence and credibility.

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Funding

Total Funding

$249M

Above

Industry Average

Funded Over

2 Rounds

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.
Series D Funding Comparison
Above Average

Industry standards

$77M
$70M
Twilio
$80M
Handshake
$100M
Affirm
$200M
Factorial Energy

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

Growth & Insights and Company News

Headcount

6 month growth

↑ 0%

1 year growth

↑ 3%

2 year growth

↑ 22%
Primera Clase Mexico
Feb 25th, 2025
Mercedes EQS with solid-state battery targets 621-mile range

Mercedes first announced its partnership with Factorial on solid-state battery technology in 2021.

Electrive
Oct 24th, 2024
Dodge Charger Daytona receives solid-state battery for demo purposes

The initiative builds on Stellantis' $75 million investment in Factorial in 2021.

InsideEVs
Sep 10th, 2024
Future Mercedes-Benz EVs May Get Solid-State Batteries With 80% More Range

Mercedes also led a $200 million funding round in 2022 and today Factorial announced a new solid-state battery named Solstice.

Autocar Professional
Sep 10th, 2024
Mercedes partners with Factorial to make solid-state batteries: Report

Mercedes Benz and Factorial are working on solid state battery which will drastically increase the EV range, and be production ready by the decade end, the firms said, as reported by Reuters.

Business Wire
Apr 23rd, 2024
Factorial And Lg Chem Sign Mou To Develop Solid-State Batteries

Factorial Inc. (Factorial), an industry leader in the development of solid-state battery technology for electric vehicle (EV) applications, and LG Chem, a global leader in battery materials, today announced the signing of a memorandum of understanding (MOU) to accelerate the development of solid-state battery materials. (Graphic: Business Wire)Factorial Inc. (Factorial), an industry leader in the development of solid-state battery technology for electric vehicle (EV) applications, and LG Chem, a global leader in battery materials, today announced the signing of a memorandum of understanding (MOU) to accelerate the development of solid-state battery materials. (Graphic: Business Wire)WOBURN, Mass.--(BUSINESS WIRE)--Factorial Inc. (Factorial), an industry leader in the development of solid-state battery technology for electric vehicle (EV) applications, and LG Chem, a global leader in battery materials, today announced the signing of 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

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