Business

Mercedes Collaborates With Factorial For Solid-State Batteries

Published

1 year ago

September 10, 2024

Mercedes-Benz and U.S. battery startup Factorial are working on a solid-state battery that should dramatically increase electric vehicle range and be ready for production by the end of the decade, the companies said on Tuesday.

The new battery, dubbed Solstice, should extend EV range about 80% above today’s average, with an energy density of 450 Watt-hours per kilogram, the companies said in a statement.

Solid-state batteries have been billed as a game-changing technology for EVs, as they should reduce fire risk and allow for lighter, lower-cost cars than can travel further on a single charge.

But they have proven harder than expected for major automakers and battery making partners to develop at scale.

Auto groups are urgently seeking ways to cut costs and boost EV range as sales have stagnated in Europe in particular.

Factorial has already developed a quasi-solid-state battery that automakers including Mercedes are testing and should be in EVs on the road in 2026.

Mercedes has invested in Factorial, which raised $200 million in 2022, alongside rivals Stellantis and Hyundai.

“Factorial developed quasi-solid-state batteries first because they can use similar production lines to conventional lithium-ion batteries, meaning they can scale up faster”, CEO Siyu Huang said in a statement.

In a solid-state battery, the liquid electrolyte through which the electrical charge passes should be replaced with a solid substitute, reducing fire risk and shrinking battery pack size.

Huang said that solid-state batteries would not require expensive, heavy cooling systems needed for today’s battery packs, allowing automakers to further reduce costs.

“We’re not just focused on the cost of (battery) cell, but the cost of the overall vehicle,” she said.

The challenges of developing solid-state batteries include poor performance in cold weather and the battery pack’s tendency to expand.

Mercedes Chief Technology Officer Markus Schaefer told Reuters that Factorial’s solid-state batteries could provide a 40% improvement in energy density over the German premium automaker’s high-performance batteries today.

This would enable Mercedes to either significantly reduce EV battery pack size – batteries are an EV’s most expensive and heaviest component – or provide long-range electric cars for those who want them.

He added that lighter batteries would allow Mercedes to use steel for EV bodies instead of far more expensive and carbon intensive high-strength aluminum.

Mercedes is also working with Taiwanese battery maker ProLogium, in which it has invested, on solid-state batteries and is researching high-silicon anodes as an alternative solution to increase EV battery density.

“There are some challenges that you have to get under control, but … we have great engineering solutions to address them,” Schaefer said, adding that he believed Factorial’s goal of developing Solstice at scale by the end of the decade was realistic.

Business

Moniepoint Strengthens Africa’s Tech Talent Pipeline with DreamDevs Cohort 2

Published

1 day ago

January 19, 2026

Samson Adeyanju

By Omoniyi David

Moniepoint Inc has reaffirmed its commitment to building Africa’s technology talent pipeline, announcing the opening of applications for the second cohort of its flagship DreamDevs initiative.

Co-Founder and CTO Felix Ike described DreamDevs as a programme that equips recent graduates with industry-ready skills and hands-on experience to bridge the continent’s tech talent gap.

“The success of our first cohort validated that Africa’s young tech talent can compete globally. This year, we aim to convert half of our participants into full-time employees,” Ike said, adding that the initiative creates sustainable career pathways that drive Africa’s digital economy.

DreamDevs complements Moniepoint’s other talent development programmes, including HatchDev, in collaboration with NITHub, University of Lagos, which trains about 500 specialised developers annually, and the Women-in-Tech programme, now in its fifth year.

The initiative also aligns with the Federal Government’s 3 Million Technical Talent (3MTT), programme, with Moniepoint serving as a key sponsor, offering graduates a specialised pathway from training to employment.

DreamDevs underscores Moniepoint’s broader mission to leverage technology to empower Africa’s youth and advance the continent’s digital economy.

Business

Nigerian Capital Market Posts Strong 2025, Faces 2026 Uncertainties

Published

1 week ago

January 12, 2026

Samson Adeyanju

By Omoniyi David

The Nigerian capital market recorded one of its strongest performances in 2025, earning global recognition after delivering exceptional returns and attracting increased investor interest.

As attention shifts to 2026, analysts are assessing whether the rally can be sustained amid political and policy uncertainties.

The market closed 2025 with an average equities return of 51.19 per cent, placing Nigeria among the world’s top five performing stock markets.

The Nigerian Exchange All Share Index posted a net capital gain of N32.13 trillion, outperforming several major economies where average returns remained below 25 per cent.

Capital raising activities rose to about N7 trillion, reinforcing the market’s role as a key funding source for government and corporate expansion.

Trading volumes also hit record levels, supported by strong activity in both the primary and secondary markets.

The debt market remained resilient, with companies increasingly relying on capital market instruments amid high interest rates. Commercial paper issuances alone reached nearly N1 trillion, largely driven by private firms.

The positive momentum has extended into 2026, with equities valuation approaching N100 trillion despite early year spending pressures. Analysts, however, caution that the year presents a mix of opportunities and risks.

As a pre election year, 2026 will see heightened political activity alongside the first full implementation of new capital market and tax laws. While the reforms are expected to strengthen regulation, analysts warn that policy interpretation and execution could influence investor sentiment, especially foreign portfolio flows.

Market watchers are also focusing on banking and insurance sector recapitalisation, which is expected to drive equity issuances, mergers and acquisitions in the first half of the year.

Analysts say sustained policy stability and effective implementation will be critical in determining whether the market extends its rally or enters a period of adjustment.

Business

Adeyanju Restates Commitment to People-Focused HR Solutions, Social Impact

Published

2 weeks ago

January 7, 2026

Samson Adeyanju

By Oso Abidemi

Rimini Abarshi Adeyanju, Founder and Chief Executive Officer of Mini Option Consulting Ltd, has reaffirmed her commitment to people-centred business solutions, leadership development, and community impact.

Adeyanju, a business professional and human resources consultant, said Mini Option Consulting is driven by the belief that people are the foundation of every successful organisation.

The firm provides recruitment, outsourcing, and workforce solutions aimed at helping businesses grow sustainably through integrity, professionalism, passion, teamwork, and continuous development.

Beyond her professional work, Adeyanju highlighted her humanitarian efforts, revealing that she has run a food-sharing initiative for the past four years to improve access to affordable food and support vulnerable members of society.

She described the initiative as a journey rooted in consistency, community, and giving back.

She also expressed passion for lifelong learning, leadership, and creating meaningful impact both in business and everyday life, noting that her platform will focus on HR insights, entrepreneurship, career growth, and community initiatives.

Adeyanju said she looks forward to connecting and collaborating with like-minded individuals and organisations, describing her space as one where purpose, people, and professionalism meet.