Factorial Energy Inc. announced a new partnership with Young Poong 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 used 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. 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. Today, 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. 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.