POSCO Future M, a leading battery materials supplier, and Factorial, a leader in solid-state battery technology, signed a Memorandum of Understanding (MOU), for the development of all-solid-state battery technology.
The MOU signing ceremony which took place at the Future Battery Forum in Berlin, was attended by POSCO Future M Head of Technology Research Laboratory Hong Young-Jun and Factorial CEO Siyu Huang, along with executives from both companies.
Under the MOU, the two companies plan to explore cooperation in developing materials for all-solid-state batteries, which are powering progress in next-generation industries such as electric vehicles, robotics, energy storage systems and more. All-solid-state batteries use solid electrolytes instead of liquid between the cathode and anode, offering higher safety, superior energy density, and excellent charging performance compared to conventional lithium-ion batteries.
Factorial decided to sign the MOU after testing cathode material samples for all-solid-state batteries and concluding that POSCO Future M’s materials demonstrated good rate capability.
Through this MOU, POSCO Future M aims to further strengthen its competitiveness in the all-solid-state battery materials business. The company is currently conducting R&D on cathode materials for all-solid-state batteries, and silicon anode materials, while the POSCO Group is also continuing R&D on lithium metal anode materials and sulfide-based solid electrolytes.
Hong Young-Jun, Head of Technology Research Laboratory, POSCO Future M said, “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.”
“Solid-state batteries are entering a new era of commercial readiness,” said Siyu Huang, CEO, Factorial. “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.”
Factorial, headquartered in Massachusetts, USA, has a global footprint with pilot manufacturing operations in Cheonan, Chungnam, South Korea.
Meanwhile, POSCO Future M plans to build a product portfolio of cathode and anode materials covering entry-level, standard, and premium electric vehicles through continuous R&D, preparing to supply customized products to customers. The company will also actively pursue the development of next-generation materials to lead the future mobility industry by leveraging the capabilities of the POSCO Holdings N.EX.T Hub, the group’s research institute, and the group as a whole.
The MOU is non-binding, except for certain customary binding provisions. The terms of the commercial partnership are expected to be set forth in definitive binding agreements.
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