Posco Future M, the battery materials and chemicals unit of South Korea’s Posco Group, announced it has signed an agreement with Factorial Inc, a US-based solid-state battery technology company, to collaborate on the development of next-generation battery technologies.
Posco confirmed that the two companies plan to “explore cooperation in developing materials for all-solid-state batteries (ASSB), which are powering progress in next-generation industries such as electric vehicles, robotics, energy storage systems, and more.”
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Factorial, headquartered in Massachusetts, said it decided to collaborate with Posco after its testing cathode material samples. The company has a pilot manufacturing operation in Cheonan, South Korea.
ASSBs use solid electrolytes instead of liquid between cathodes and anodes, which makes them safer than conventional lithium-ion batteries, while increasing energy density and improving charging performance. Posco has stepped up its R&D on cathode materials for all-solid-state batteries and silicon anode materials in recent years.
The head of Posco Future M’s Technology Research Laboratory, Hong Young-Jun, said in a statement: “We expect synergy in the next-generation all-solid-state battery business based on Factorial’s battery technology and market presence with global automakers, and Posco Future M’s competitiveness in cathode and anode materials.”
Factorial’s CEO, Siyu Huang, added: “Solid-state batteries are entering a new era of commercial readiness. 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.”
Posco confirmed it is building a product portfolio of battery cathode and anode materials covering the entry-level, standard, and premium electric vehicles (EV) segments, as well as developing customized products for its customers. It is also focused on developing lithium-metal anode materials and sulfide-based solid electrolytes.
