Posco makes strategic investment in US-based ASSB materials firm Factorial

Posco Future M, the artillery materials subsidiary of South Korea’s alloy and chemicals steadfast Posco Group, announced it has made a strategical concern successful Factorial Inc, a US-based developer of materials for all-solid-state batteries (ASSBs), arsenic it looks to found an aboriginal beingness successful the proviso concatenation for next-generation electrical conveyance (EV) batteries.

Posco confirmed that it has completed the concern successful Massachusetts-based Factorial, aft it signed a memorandum of knowing (MoU) with the institution past November to jointly make ASSB technologies, further strengthening their partnership. Factorial is preparing to motorboat an archetypal nationalist offering (IPO) connected the US banal marketplace aboriginal this year.

Posco said successful a statement: “Through this investment, Posco Future M is preparing for the explosive maturation of the ASSB market, portion Factorial volition unafraid a unchangeable proviso of high-quality ASSB materials and fortify its artillery manufacturing competitiveness.”

The caput of Posco Future M’s Technology Research Laboratory, Hong Young-Jun, confirmed that the 2 companies “have developed materials technologies done a adjacent and continuous partnership. This further developed concern volition alteration america to unafraid unrivaled competitiveness successful the rapidly increasing ASSB market.”

Factorial presently operates a aviator works for ASSB materials successful Cheonan, successful South Korea’s South Chungcheong province, and is actively expanding its concern successful the country. The institution has developed an ASSB “platform”, called Solstice, based connected coagulated electrolytes alternatively of the liquid electrolytes utilized successful existent lithium-ion batteries, offering superior vigor density and safety. Posco confirmed it has been conducting illustration investigating of its ASSB cathode materials with Factorial, with encouraging results.

"Posco makes strategical concern successful US-based ASSB materials steadfast Factorial" was primitively created and published by Just Auto, a GlobalData owned brand.

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