POSCO FUTURE M said on the 27th that it signed an investment agreement with U.S. solid-state battery company Factorial Inc. and completed the payment on the 26th. The move follows the two companies' signing of a memorandum of understanding (MOU) in November last year for solid-state battery technology development.
POSCO FUTURE M aims to prepare for explosive growth in the solid-state battery market through this investment. Factorial plans to secure high-quality solid-state battery materials in a stable manner while also strengthening its battery manufacturing competitiveness.
Factorial, a solid-state battery company headquartered in Massachusetts, is seeking a U.S. stock market listing. Factorial operates a solid-state battery pilot plant in Cheonan, South Chungcheong. Factorial's solid-state battery platform "Solstice" is known for excellent energy density and safety, and the company maintains partnerships with major automakers in Korea, Europe and North America.
Solid-state batteries use solid electrolytes instead of conventional liquid electrolytes, offering superior energy density and safety, and are drawing attention as a "game changer" that could reshape the battery market. POSCO FUTURE M conducted cathode material sample tests for solid-state batteries with Factorial. Among many material suppliers, POSCO FUTURE M's materials were evaluated as having excellent quality competitiveness, including output characteristics.
POSCO FUTURE M has secured material design and coating technologies optimized for solid-state batteries, and at the POSCO Group level is expanding its solid-state battery material portfolio to include sulfide-based solid electrolytes as well as silicon and lithium metal anodes with excellent energy storage capacity.
Hong Young-jun, head of the POSCO FUTURE M research center, said, "The two companies have advanced material technology through an ongoing and close partnership," and added, "Through a more advanced partnership, we will be able to secure unrivaled competitiveness in step with the opening of the solid-state battery market."