Mercedes-backed solid-state battery firm Factorial lists on Nasdaq
Factorial Energy Inc. commenced trading on Nasdaq on June 8, 2026, after completing a business combination with Cartesian Growth Corporation III, resulting in an implied equity value of roughly $1.3 billion and gross proceeds exceeding $100 million. The company targets sectors such as defense, aerospace, and e-mobility with its solid-state battery technology, supported by partnerships with automotive manufacturers like Mercedes-Benz and Stellantis. Factorial's stock, trading under the ticker "FAC", saw an initial increase of 27.54% to $17.50, with leadership highlighting the scalability of its proprietary FEST® and Solstice™ platforms.
*this image is generated using AI for illustrative purposes only.
Factorial Energy Inc. began trading on the Nasdaq Stock Market on June 8, 2026, following the completion of a business combination with Cartesian Growth Corporation III. The transaction implies an equity value of approximately $1.3 billion and provides more than $100 million in gross proceeds to support the commercialization of next-generation batteries for defense, aerospace, hyperscale data centers, and e-mobility. The combined company operates as Factorial Energy Inc., with its Series A common stock and warrants trading under the ticker symbols "FAC" and "FACWW", respectively. Cantor Fitzgerald served as exclusive financial advisor and sole placement agent for the PIPE.
Factorial enters the public market with a capital-light commercialization model built on joint manufacturing partnerships. The company cites support from the U.S. national security investment community, real-world vehicle integrations, and progress toward the first U.S. solid-state production program for passenger vehicles. The listing provides a platform to accelerate the deployment of solid-state technology across drones, robotics, and energy systems. At the time of publication, Factorial shares are trading 27.54% higher at $17.50.
Strategic Milestones and Partnerships
Factorial has established several key partnerships and achieved technological milestones in recent years. These collaborations span multiple continents and sectors, focusing on advancing battery integration for electric aviation and robotics.
| Period | Milestone / Partner | Description |
|---|---|---|
| Q2 2026 | KULR Technology Group, Tulip Tech, JRES | Partnerships to advance battery integration for electric aviation systems |
| Q1 2026 | IQT, POSCO Future M, Philenergy | Strategic investment supporting expansion into drones and robotics |
| Q1 2026 | Karma Automotive | First solid-state battery production program in the U.S. for passenger vehicles |
| Q3 2025 | Mercedes-Benz | 1,205 km journey on a single charge in a modified EQS test vehicle |
| Q3 2025 | Stellantis | Key technology milestone to unlock demonstration fleet |
| Q1 2023 | Factorial | Launch of a 100Ah+ lithium metal solid-state battery |
Leadership and Future Outlook
Siyu Huang, CEO of Factorial, emphasized the company's focus on solving energy challenges at scale, noting that the technology has been proven in real-world automotive conditions. Peter Yu, Chairman & CEO of Cartesian Growth Corporation III, highlighted the creation of long-term shareholder value and the opening of the company's capital table to investors. The management team includes Executive Chairman Joe Taylor, former Chairman and CEO of Panasonic North America, and Dieter Zetsche, former Chairman of the Board of Daimler.
To commemorate the listing, Factorial rang the Nasdaq Opening Bell on June 17, 2026. The company continues to develop its proprietary FEST® and Solstice™ platforms, which are engineered for scalable manufacturing and designed to deliver performance across defense, space, and energy storage applications.
How will Factorial utilize the $100 million in proceeds to scale its capital-light manufacturing model over the next 18 months?
What are the specific timelines for commercial deployment of solid-state batteries in the Karma Automotive and Stellantis demonstration fleets?
How will recent strategic investments from IQT and POSCO Future M accelerate Factorial's expansion into the defense and Asian markets?
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