Massachusetts Battery Start-Up to List on Stock Exchange
The New York Times••business
Key Points:
- Factorial Energy plans to go public in mid-2026 through a merger with the SPAC Cartesian Growth Corporation III, valuing the company at $1.1 billion and raising $100 million in capital.
- The Boston-based company is developing solid-state batteries that are lighter, charge faster, and eliminate flammable electrolytes, aiming to have these batteries in cars by 2027.
- Factorial's solid-state battery technology has been successfully tested in a Mercedes-Benz vehicle with a nearly 750-mile range, and the company plans to test batteries in Stellantis vehicles next year, initially targeting high-performance and luxury models.
- Despite challenges in scaling solid-state battery production and a slowdown in U.S. electric vehicle sales, Factor
