Factorial Energy and LG Chem Sign MOU to Jointly Develop Solid-State Battery Materials

Factorial Energy, a solid-state battery technology company based in Massachusetts, has signed a memorandum of understanding (MOU) with South Korea's LG Chem to work together to accelerate the development of solid-state battery materials. The collaboration aims to combine LG Chem's expertise in battery materials with Factorial's innovative technologies to jointly promote the development of next-generation battery materials to ensure competitive advantages in future markets. If the project is successful, the two parties will further explore technology licensing and material supply issues to maintain a strategic partnership. LG Chem's Chief Technology Officer Jong-ku Lee said that through this collaboration, they will become a technological leader in the next-generation battery field and ensure the safety of solid-state materials. Factorial's CEO Siyu Huang said that they look forward to working with LG Chem to jointly advance the development of key solid-state battery technologies and pave the way for the future of electric vehicles.