On December 24th, Factorial Energy, a U.S.-based developer of solid-state batteries, revealed that it had inked a conclusive business combination pact with Cartesian Growth Corporation III, a special purpose acquisition company, thereby formally initiating its journey toward going public. Before the merger, Factorial was appraised at $1.1 billion (around RMB 7.7 billion) and is anticipated to be listed on the Nasdaq under the ticker symbol "FAC" in mid-2026. The proceeds from the listing will be chiefly utilized to expedite the large-scale production and commercial rollout of solid-state battery technology.

Established in 2019 in Boston, U.S., by Chinese scientist Siyu Huang, Factorial has its headquarters in Woburn, Massachusetts. Up until now, Factorial has successfully closed 10 rounds of financing, amassing a cumulative total of roughly $245 million. Among its investors are global automotive behemoths like Mercedes-Benz, the Stellantis Group, Hyundai Motor, and Kia, along with battery industry frontrunners such as South Korea's SK On and POSCO FUTURE M.