Factorial Energy debuts on Nasdaq after 745-mile solid-state breakthrough
Factorial Energy, a U.S. solid-state battery developer, goes public on Nasdaq via a SPAC merger with Cartesian Growth Corp III in a deal valued at about $1.3 billion with roughly $110 million in gross proceeds. The listing follows Mercedes-Benz’s test showing Factorial’s solid-state cells can enable about 745 miles (1,205 km) on a single charge in an EQS, and Factorial claims higher energy density, faster charging, and lighter packs. The company has partnerships with Mercedes-Benz, Hyundai, Kia, and Stellantis, and aims to commercialize solid-state batteries for EVs by 2027 while pursuing defense, aerospace, and robotics applications.