Factorial Energy Inc. (NASDAQ: FAC), a solid-state battery developer based in Boston, published a letter to shareholders following its Nasdaq listing on June 8, 2026.

The letter outlines the company's technology milestones, partnerships with original equipment manufacturers, and manufacturing strategy since its founding. It also describes priorities for Factorial as a newly public company.

"We're excited to share Factorial's story with shareholders and the broader investment community through this letter, and grateful for the support we've already received," said Siyu Huang, CEO of Factorial.

Factorial's backers include Mercedes-Benz, Stellantis, Hyundai, Kia, and IQT, described as a not-for-profit strategic investor for the U.S. national security community. The company develops solid-state batteries through its FEST and Solstice platforms for aerospace, energy storage, and automotive applications.

According to the press release, Mercedes-Benz road testing in a modified test vehicle achieved over 1,200 km of range on a single charge using Factorial's technology. Stellantis lab testing verified 77 Ah cells across temperature conditions.

The company also cited drone integration partnerships and what it described as the first U.S. solid-state production program for passenger vehicles among recent milestones.