Factorial Energy (founded in 2013), a U.S.-based company researching and developing all-solid-state batteries, in which NFC has invested, filed for an initial public offering via a SPAC merger with the SEC in May 2026.
NFC directly invested in Factorial when it was a startup, and subsequently, in 2022, Mercedes-Benz and Stellantis jointly invested in Factorial, leading the company to establish a manufacturing plant for all-solid-state batteries in the suburbs of Boston, USA.
In 2025, Mercedes-Benz successfully drove an electric vehicle a total distance of 1,205 km from Stuttgart, Germany, to Malmö, Sweden, via Denmark, without stopping to recharge.
The all-solid-state battery market is expected to expand beyond next-generation mobility applications such as electric vehicles and urban air mobility (UAM) to include the physical AI industry-encompassing humanoids and robots-as well as data centers requiring massive storage capacity for AI.
The company’s estimated market capitalization is over $1 billion at the time of listing.
April 6, 2026 @NFC Tokyo Office
with Alex Yu, Founder and CTO at Factorial
