# Factorial Energy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/factorial-energy

- Industry: Energy Storage & Batteries
- Headquarters: Billerica, US
- Website: www.factorialenergy.com
- Total disclosed funding: $200M
- Latest round: Series D (Jan 20, 2022)
- Investors on record: 3

## About

Based in the US, Factorial Energy is an innovative company focused on developing advanced solid-state batteries for the automotive sector, enhancing electric vehicle performance and safety through cutting-edge technology.Founded in 2021 and headquartered in Billerica, US, Factorial Energy specializes in producing solid-state battery cells exceeding 40 Ah capacity for automotive applications. The company has successfully raised USD 200 mn in SERIES D funding, led by Mercedes-Benz Vans USA and Stellantis, and has completed 3 deals as of January 2022. The founders, Alex Yu and Siyu Huang, have targeted major global markets including North America, Europe, and Asia for their innovative battery solutions.Factorial Energy specializes in the development of high-performing solid-state batteries, aimed at overcoming the inherent limitations of conventional lithium-ion battery technology. Their flagship products are solid-state battery cells with capacities exceeding 40 Ah, designed for automotive applications. These batteries are characterized by their enhanced safety and performance metrics and are engineered for compatibility with existing production facilities, facilitating a quicker market entry. The company serves a diverse client base that includes top-tier automotive manufacturers, who utilize Factorial's technology to enhance electric vehicle (EV) range, efficiency, and safety.Factorial Energy generates revenue primarily through partnerships with automotive manufacturers, leveraging a Business-to-Business (B2B) transaction model. These partnerships involve supplying solid-state battery cells to original equipment manufacturers (OEMs) for integration into their electric vehicle offerings. Long-term contracts with tiered pricing structures based on volume and specific product configurations underpin Factorial's revenue streams, aligning with the company's innovations in solid-state technology. In January 2026, Factorial Energy raised an undisclosed amount of venture funding from investor POSCO FUTURE M to ramp up its commercial production and deployment of solid-state batteries. The company plans to introduce new products, including battery cells with capacities exceeding 100 Ah, targeting key markets in North America, Europe, and Asia for expansion. The recent funding will support scaling operations and accelerating the timeline for product launches in these regions, aligning with the growing demand for advanced battery solutions in the electric vehicle sector.

## Funding rounds

- Series D, Jan 20, 2022, $200M — Mercedes-Benz Vans USA, Hermitage Capital Group, Stellantis

## Investors

- Mercedes-Benz Vans USA — Series D
- Hermitage Capital Group (https://capitalatlas.ai/funds/hermitage-capital-group) — Series D
- Stellantis — Series D