WOBURN, Mass., Nov. 22, 2021 (GLOBE NEWSWIRE) -- Factorial Energy (Factorial) has been named one of 10 chemical industry Startups to Watch by Chemical & Engineering News, the weekly newsmagazine of the American Chemical Society (ACS). Factorial has developed breakthrough solid-state battery technology that addresses two key issues holding back widescale consumer adoption of electric vehicles: driving range, and safety.
The companies were chosen from among hundreds of firms suggested by readers and identified by C&EN reporters who scoured the chemical, biotech and materials world for young companies with great promise.
The company’s FEST™ (Factorial Electrolyte System Technology) is safer than conventional lithium-ion technology, extends driving range by 20 to 50 percent, and is drop-in compatible for easy integration into existing lithium-ion battery manufacturing infrastructure.
FEST leverages a proprietary solid electrolyte material that enables safe and reliable cell performance with high-voltage and high-capacity electrodes at room temperature. Earlier this year, Factorial became the first to reach the 40 Amp-hour benchmark with a solid-state cell that works at room temperature, demonstrating the scalability of the FEST™ electrolyte.
“It is an honor to be recognized by Chemical & Engineering News for our innovation in solid-state battery technology,” said Factorial Energy CEO Siyu Huang, Ph.D. “We’re on a mission to electrify the automotive industry and be part of the movement to reduce global CO2 emissions, and this award is recognition of the significant progress we’ve made. I am proud of our entire team, our partners, investors and supporters.”
Factorial’s world-class leadership team includes former Chairman and CEO of Panasonic Corporation of North America Joe Taylor as executive chairman. In addition, Dieter Zetsche, former Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz; Mark Fields, former Ford Motor Company CEO; and Harry Wilson, former senior advisor to the Obama Administration’s Presidential Task Force on the Auto Industry, are members of Factorial’s advisory board.
About Factorial Energy
Based in Woburn, Massachusetts, Factorial Energy has developed breakthrough solid-state batteries that offer 20 to 50 percent longer range per charge, increased safety, and cost parity with conventional lithium-ion batteries. The company’s proprietary FEST™ (Factorial Electrolyte System Technology) leverages a solid electrolyte material, which enables safe and reliable cell performance with high-voltage and high-capacity electrodes. FEST™’s electrolyte has been successfully scaled in 40Ah cells, works at room temperature, and can utilize the majority of existing lithium-ion battery manufacturing equipment. The company is integrating its technology with several auto manufacturers. More information can be found at www.factorialenergy.com.
Media Contact
John Williams, Scoville PR for Factorial
jwilliams@scovillepr.com, 206-660-5503
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c972835f-0be5-4ed6-a30f-1b388ecf10c3
