LG Chem and Factorial Energy have signed a memorandum of understanding (MOU) to collaborate on the development of solid-state batteries, combining LG Chem’s expertise in battery materials with Factorial’s next-generation battery technology. Factorial Energy is a Massachusetts-based solid-state battery developer known for its 100 amp-hour (Ah) Factorial Electrolyte System Technology (FEST) solid-state cell, which is compatible with lithium-ion battery manufacturing equipment. LG Chem has invested heavily in the development of battery materials, particularly cathodes in solid-state cells, and has established facilities in the U.S. following a supply agreement with General Motors.
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Through the MOU, LG Chem and Factorial aim to accelerate the development of solid-state batteries by combining LG Chem’s battery material capabilities with Factorial’s next-generation battery material and process innovations. Factorial CEO Siyu Huang believes the collaboration will help unlock the future of electric vehicles, while LG Chem CTO Jong-ku Lee expects it to secure their position as technology leaders in next-generation batteries.
After the initial development project, the companies plan to explore technology licensing and material supply as part of an expanded strategic partnership to lead the solid-state battery market. The partnership will allow Factorial to benefit from LG Chem’s cathode and materials expertise, while LG Chem will be able to provide essential materials for Factorial’s FEST solid-state cells as they move toward large-scale production.
Source: ELECTREK, businesswire
