Factorial partners with battery recycling company Young Poong.
Factorial Energy Inc. (Factorial), an industry leader in the development of quasi-solid-state battery technology for electric vehicle (EV) and storage applications, announced a new partnership with Young Poong, a non-ferrous metal smelting and refining company in South Korea, to invest in research into lithium-metal recycling for solid-state batteries.
Factorial will provide Young Poong with excess lithium-metal material from its battery manufacturing process. Young Poong will use the material to develop a process for recycling lithium-metal that has the ability to be reused and integrated into Factorial’s solid-state batteries, enabling a circular economy.
The collaborative project will include the recycling of excess material from Factorial’s current pilot manufacturing operations and future production and manufacturing facilities.
Alex Yu, co-founder and CTO
Our core mission to advance sustainable mobility extends beyond EV battery manufacturing.
“We are deeply invested in advancing technologies that foster a circular economy. Through our partnership with Young Poong, Factorial is poised to shape a future characterized by a resilient supply chain for solid-state batteries, thereby helping to drive the growth and sustainability of the EV industry.”
Factorial’s patented FEST® powered lithium-metal solid-state batteries have the potential to revolutionize the battery industry by providing safer and up to 50% higher energy density batteries compared to lithium-ion batteries. The company has investments and joint development agreements with Mercedes-Benz, Stellantis, and Hyundai. With a lithium-metal anode, Factorial’s batteries require a different recycling process than traditional lithium-ion battery recycling.
It is estimated in the U.S., less than 10% of lithium batteries are recycled, with experts forecasting that in 2025, production scrap will account for 78% of the pool of recyclable materials from batteries. This partnership is expected to advance Young Poong’s exploration into lithium-metal recycling, to create a novel recycling process for automotive-grade lithium metal solid-state batteries. The collaboration reflects Factorial’s commitment to sustainability and consideration for the end-of-life of its batteries.
Mr. Kang In Lee, Representative of Business Division; Green Metal Division at Young Poong, said:
We are pleased to be working with Factorial to advance our research into Lithium-metal recycling for solid-state rechargeable batteries, an industry first,.
“With lithium-metal recycling, we have the opportunity to establish a recycling process well in advance of the future decommissioning of solid-state batteries.”
Young Poong’s secondary battery recycling technology is the world’s first pyrometallurgy process that can recover more than 90% of lithium and more than 95% of nickel, cobalt, and copper from used batteries. Through this partnership, Young Poong is the first in the global recycling industry to announce a project focused on next-generation solid-state batteries.
About Factorial Inc.
Based in Woburn, Massachusetts, Factorial Energy is developing breakthrough solid-state batteries that offer longer range per charge and increased safety and aim to be cost-competitive with conventional lithium-ion batteries. The company’s proprietary FEST® (Factorial Electrolyte System Technology) 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 scaled in 40Ah cells, works at room temperature, and is compatible with existing lithium-ion battery manufacturing equipment. The company has entered into joint development agreements with Mercedes-Benz, Stellantis, and Hyundai Motor Company.
More information can be found at www.factorialenergy.com. © 2023 Factorial Inc. All rights reserved. Factorial, the Factorial logo and FEST are registered trademarks in the United States and/or other countries. Other trademarks are property of their respective owners.
Factorial Partners with Battery Recycling Company Young Poong, WOBURN, Mass., June 27, 2023
