The solid-state battery developer raised $100m in gross proceeds to scale technology for EVs, defence, and data centres.
Factorial Energy, a US solid-state battery developer, has started trading on Nasdaq after merging with SPAC Cartesian Growth Corporation III. The combined entity is valued at approximately $1.3bn, with the deal generating over $100m in gross proceeds.
The company, backed by automotive giants including Mercedes-Benz, Stellantis, Hyundai, and Kia, will use the capital to commercialize its technology across electric vehicles, defence, aerospace, and hyperscale data centres. Recent partnerships with drone integrators and a strategic investment from In-Q-Tel were announced earlier in 2026.
Factorial’s CEO highlighted the firm’s readiness to scale, citing real-world automotive testing as a key milestone. The Nasdaq listing is expected to accelerate deployment of its solid-state battery solutions.