Posco makes strategic investment in US-based ASSB materials firm Factorial [Yahoo! Finance]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
US:NYSE Investor Relations:
posco.com/homepage/docs/eng5/jsp/invest/archive/s91b6010071l.jsp
Company Research
Source: Yahoo! Finance
in Factorial Inc, a US-based developer of materials for all-solid-state batteries (ASSBs), as it looks to establish an early presence in the supply chain for next-generation electric vehicle (EV) batteries. Posco confirmed that it has completed the investment in Massachusetts-based Factorial, after it signed a memorandum of understanding (MoU) with the company last November to jointly develop ASSB technologies, further strengthening their partnership. Factorial is preparing to launch an initial public offering (IPO) on the US stock market later this year. Posco said in a statement: “Through this investment, Posco Future M is preparing for the explosive growth of the ASSB market, while Factorial will secure a stable supply of high-quality ASSB materials and strengthen its battery manufacturing competitiveness.” The head of Posco Future M's Technology Research Laboratory, Hong Young-Jun, confirmed that the two companies “have developed materials technologies through a close and co
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