POSCO Future M teams up with US Factorial for solid-state battery tech

POSCO Future M Technology Research Laboratory Head Hong Young-jun, left, poses with Factorial CEO Siyu Huang after the two sides signed a memorandum of understanding on the sidelines of the Future Battery Forum in Berlin, Nov. 25. Courtesy of POSCO Future M

POSCO Future M, a secondary battery material company, will cooperate with Factorial, a U.S. solid-state battery technology firm, to develop solid-state battery materials, the companies said Thursday.

The two sides signed a memorandum of understanding (MOU) on the sidelines of the Future Battery Forum in Berlin on Nov. 25. Under the MOU, the two companies plan to explore cooperation in developing materials for solid-state batteries.

Solid-state batteries use solid electrolytes between the cathode and anode materials of a battery cell, enabling higher safety, energy density and charging performance compared to conventional lithium-ion batteries.

Factorial is considered a frontrunner in developing solid-state batteries. It is headquartered in Massachusetts and has a pilot production facility in Cheonan, South Chungcheong Province.

POSCO Future M said the partnership came after Factorial tested cathode material samples from various material firms, and concluded that POSCO Future M’s materials demonstrated good performances.

POSCO Future M is now developing cathode materials for solid-state batteries and silicon anode materials. POSCO Group is also continuing R&D on lithium metal anode materials and sulfide-based solid electrolytes.

“We expect synergy in the next-generation solid-state battery business, based on Factorial’s battery technology and POSCO Future M’s competitiveness in cathode and anode materials,” POSCO Future M Technology Research Laboratory Head Hong Young-jun said.

“Solid-state batteries are entering a new era of commercial readiness,” Factorial CEO Siyu Huang said. “We expect work with POSCO Future M to not only accelerate innovation in critical cathode and anode materials, but also strengthen a resilient global supply chain and drive meaningful cost reductions at scale.”