Factorial Energy, a specialist in the development of solid-state battery technology for electric vehicle (EV) applications, announced that it will establish a new state-of-the-art manufacturing facility in the Boston suburb of Methuen, Mass.
The new facility will produce Factorial’s new solid-state battery cell technology for electric vehicles.
The company is currently working with automakers Hyundai Motor Company, Mercedes-Benz and Stellantis to develop safer and more efficient solid-state EV battery cells for future passenger and utility vehicles.
The new production site at 501 Griffin Brook Drive in Methuen was recently secured by Factorial with support from the Massachusetts Office of Business Development and the City of Methuen’s Department of Economic and Community Development. The existing 67,000 square foot building at the site will undergo extensive construction to house Factorial’s pilot production facility, which will manufacture automotive-size solid-state batteries at the speed and volume of pre -production. Factorial will invest $45 million in the facility, which is expected to begin operations in early 2023 and will create 166 new jobs in the Methuen community.
Based in Woburn, Mass., Factorial is developing the next generation of electric mobility technology.
“The collaboration between Factorial, the City of Methuen and the Commonwealth of Massachusetts has been extremely helpful and productive,” said Siyu Huang, CEO of Factorial. “Our relationship is a true partnership between our company and our community. We plan to continue building solid-state EV battery research and development facilities in New England and to establish the region as a hub for electric mobility technology.
“Factorial Energy is a great example of an innovative company choosing to grow its business and provide highly skilled jobs here in Methuen,” said Mayor Neil Perry, Town of Methuen. “We are delighted to help Factorial start its new operations in Methuen, and we are honored to support the growth of this forward-looking company. It’s a great example of local and state government working hand-in-hand with private enterprise to craft a win-win solution.
“We are excited to see Factorial Energy expand its operations in its home state,” Housing and Economic Development Secretary Mike Kennealy said. “Massachusetts continues to be a leader in innovation, and as the electric mobility industry grows, this new state-of-the-art manufacturing facility in the gateway city of Methuen will play an important role in supplying batteries to semiconductors that will fuel our transition to clean energy while creating jobs here. in the Commonwealth.
The company’s Factor Electrolyte System Technology (FEST) leverages a solid electrolyte material, which has the potential to enable safe and reliable cell performance with high capacity cathode and anode materials. FEST has been successfully scaled in 40Ah cells, operates at room temperature, and is highly compatible with existing lithium-ion battery manufacturing equipment.
The company has entered into joint development agreements with Mercedes-Benz, Stellantis and Hyundai Motor Company.