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.”
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 customised products for its customers. It is also focused on developing lithium-metal anode materials and sulphide-based solid electrolytes.
