Environmental, Social and Governance
(ESG) Statement
Environmental
Creating sustainable solutions is the core of everything we do. Our efforts go beyond the batteries we develop, we ensure that our actions leave a positive impact on our planet.
Carbon neutrality
We are optimizing our supply chain to be sustainable from beginning to end. Our customers share the same priorities. Together, we are pursuing carbon neutrality by mid-2030 with the following certifications: Carbon neutral production certificate, Proof/certificate for use of renewable energy, IRMA certification (initiative for responsible mining assurance), Auditor to certify carbon neutrality of cell/battery.
End-of-life recycling
A battery’s life doesn’t end after its last charge. Improper disposal wastes resources and can harm the environment. We are developing robust end-of-life solutions to prevent this from happening. To facilitate our lithium-metal recycling, we partnered with Young Poong, to advance research into lithium-metal recycling for solid-state batteries, using surplus lithium metal from Factorial’s manufacturing process.
Social
Factorial is an innovation powerhouse because of our people. With a team who values safety, meritocracy, agility, humility, respect, and transparency, we are reshaping how we’ll energize the communities of the future.
Diversity, Equity, and Inclusion (DEI)
- Women and minority-led
- >70% employees from racial and ethnic minorities
- >50% millennials, >30% Gen Z
*Numbers as of July 2023
EHS team
We have an Environmental, Health, and Safety (EHS) team to ensure that our labs, equipment, and processes adhere to government and industry standards — and ultimately create a safe working space for our team.
Team benefits
- competitive wages
- health coverage
- retirement plans
- flexible time off
- family leave
Sustainable supply chain
We are simplifying and regionalizing our supply chain by emphasizing local sourcing, and are exploring collaborations with local lithium suppliers. We require all suppliers to provide Conflict Mineral Policy Statemen. We are actively working to create supplier risk assessment to ensure suppliers are adopting sustainable operations according to ISO, IATF and RBA standards. We will be implementing an audit program for every supplier to ensure transparency and ethical compliance.
Governance
Founded on values and governed by them, Factorial pursues purposeful innovation through ethical practices and deep industry knowledge.
Strong representation
We are guided by experience, expertise, and holistic representation. Our highly skilled Board of Directors and Board of Advisors have significant automotive and battery industry experience. We also maintain strong industry and shareholder representation on our Board of Directors.
Ethical business
Everything we do adheres to our ethical business practices. We regularly update our procurement policy and procedures with respect to ESG. We believe that ethical business is good business and we hold ourselves and our suppliers to a rigorous Code of Conduct.
