By Monica Sager
METHUEN — The city’s newest business is fighting for cleaner energy and a reduction in carbon emissions through its one-of-a-kind battery for vehicles.
A ceremonial ribbon was cut Monday at the Factorial Inc. facility at 501 Griffin Brook Drive. It also marked the company’s 10th anniversary.
Gov. Maura Healey and Rep. Lori Trahan were on hand to help celebrate the company’s new location in Methuen and its potential impact along with state Reps. Ryan Hamilton and Estella Reyes, Mayor Neil Perry and other local officials.
“It’s literally going to change our world by helping to reduce carbon emissions and helping to produce the innovative solutions that may lead to achieve a cleaner future,” Trahan said. “It’s always great to welcome a new business to our 3rd District.”
Factorial produces solid-state batteries for electric vehicles. The group presented a prototype of new 100 amp-hour cells at the Consumers Electronics Show in Las Vegas earlier this year that may deliver up to 30% higher density than the lithium-ion batteries typically made for vehicles.
Co-founder Siyu Huang said the goal is to get the number to 50%. This could allow for a longer driving range or a lighter vehicle, depending on what the manufacturer wants to prioritize.
Factorial works with clients such as Hyundai Motor Company, Mercedes-Benz and Kia Corporation.
The company chose Methuen as its new home last year over four other options in Massachusetts and one in New Hampshire. This was in part due to a multiyear tax agreement, according to Perry. Ground was broken in August 2022.
Factorial hired 166 full-time employees and invested $45 million in the city, according to Perry. Ting Li, director of manufacturing, said the Griffin Brook Drive location should open in the new year.
Factorial will use the space with hope of growing from a technological company to a manufacturing operation, according to Huang.
“We want to build the next generation of batteries,” Huang said. “We want to make the world cleaner for our kids and our grandkids.”
Li described the batteries that Factorial produces as “similar to a lasagna.”
The electrodes, or electrical conductors that are charged positively or negatively, act like sheets of pasta. The “filling,” per se, is what “makes the battery good,” Li said. This is where the electric current flows.
Beyond the precise mechanisms, Factorial is making a difference with its work at the local, state and global levels, Healey said. The business is the only female-led, female-founded, solid-state electric vehicle battery company in the world, she said.
“I want Massachusetts to be the leader when it comes to climate innovation and climate technology, the leader in the world. I want that to happen and this is part of what makes that happen,” Healey said. “This 21st century manufacturing facility is great for Methuen. It’s great for the Merrimack Valley and it’s great for the entire state.”
Healey has launched several initiatives in support of the environment, including enacting the 2021 Climate Act that requires the state to reduce greenhouse gas emissions by 50% below 1990 levels. She said Factorial’s work would help the state and the country meet their emissions targets.
Electric vehicles typically have smaller carbon footprints than gasoline vehicles, even when accounting for the electricity used for charging or manufacturing, according to the Environmental Protection Agency
Huang said Factorial is “on the right track” to be become No. 1 in battery innovation in the U.S. and globally.
Healey noted that the manufacturing facility would boost local economic growth. Trahan mentioned the laws she helped to pass, including the Battery Materials Processing Grants Program.
“I’m working directly with the Department of Energy to ensure that the next round of funding will include opportunities for Factorial to compete for those grants,” she said. “We are laser focused on implementation and making sure that companies like Factorial receive the funding that they need to continue to innovate, grow and create jobs.”
Co-founder Alex Yu said the jobs that would be created are essential because Factorial is working to produce high-quality batteries.
“It was shocking how advanced our country is but also how much behind we are in terms of production innovation,” Yu said. “We’re trying to solve a real-world problem.”
