Factorial Energy goes public at $1.3bn valuation after SPAC merger

US solid-state artillery developer Factorial Energy has begun trading connected the Nasdaq Stock Market pursuing the completion of its merger with peculiar intent acquisition institution Cartesian Growth Corporation III.

The firm, which is backed by apical automotive companies, began trading connected the Nasdaq Stock Market connected 8 June 2026 nether the ticker symbols FAC and FACWW.

The transaction places the combined entity's valuation astatine astir $1.3bn, with the woody generating implicit $100m successful gross proceeds.

Factorial volition deploy the superior towards bringing its solid-state artillery exertion to marketplace crossed 3 sectors: electrical vehicles, defence and aerospace, and hyperscale information centres.

Factorial CEO Siyu Huang said: "The automotive manufacture is the astir demanding proving crushed successful the world, and we've shown our exertion tin execute successful existent cars connected existent roads. That instauration positions america to scale, providing powerfulness to drones, robotics, and adjacent procreation vigor systems.

"Listing connected Nasdaq gives america the level to accelerate that enactment and present solid-state exertion wherever it matters most."

Mercedes-Benz, Stellantis, Hyundai, and Kia are among the company's backers, on with In-Q-Tel, which was acceptable up by the CIA successful 1999 arsenic an independent, not-for-profit concern firm.

Commercial developments announced successful the archetypal fractional of 2026 included partnerships with drone integrators KULR Technology Group, Tulip Tech, and JRES crossed 3 continents, arsenic good arsenic a strategical concern from In-Q-Tel .

The play besides included the announcement of a archetypal US solid-state artillery accumulation programme for rider vehicles with Karma Automotive.

In the 3rd 4th of 2025, Mercedes-Benz completed a 1,205km single-charge thrust from Stuttgart to Malmö successful a lightly modified EQS trial conveyance equipped with Factorial's FEST cells.

Factorial's committee includes enforcement president Joe Taylor, erstwhile president and main enforcement of Panasonic North America, and Dieter Zetsche, erstwhile president of the committee of Daimler and caput of Mercedes-Benz Cars.

"Factorial Energy goes nationalist astatine $1.3bn valuation aft SPAC merger" was primitively created and published by Just Auto, a GlobalData owned brand.