Factorial Energy Lists on Nasdaq at $1.3 Billion Valuation
The public listing supplies more than $100 million to fund a partner-led, capital-light push to commercialize U.S. solid-state batteries for vehicles, drones and defense.
Overview
- Factorial completed its SPAC business combination and began trading on Nasdaq on Monday, June 8, 2026, in a deal that implies about $1.3 billion in equity value and raised over $100 million in gross proceeds.
- The company says the funds will support commercialization of its FEST® solid-state cells for e-mobility, drones, robotics and defense, using a joint manufacturing model that relies on partners rather than building large factories.
- Factorial points to real-world validation from industry partners, including Mercedes‑Benz’s lightly modified EQS test that logged a 1,205 km single-charge drive and reported verification work with Stellantis.
- Strategic backers and partners include In‑Q‑Tel, Mercedes‑Benz, Stellantis, Hyundai, Kia, Karma Automotive, drone integrators and supply‑chain firms such as POSCO Future M and Philenergy, signaling commercial and national-security interest in a U.S. supply chain.
- The company will mark the listing with a Nasdaq bell-ringing and public demonstrations on June 17, 2026, but its roadmap to mass production still faces common scale-up risks tied to manufacturing, certification and commercial adoption.