SES AI Corporation -- 2023 Battery World Highlights
December 13 2023 - 8:56AM
Business Wire
SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in
the development and manufacturing of high-performance Li-Metal
batteries for electric vehicles (EV) and other applications,
provided insights into several exciting growth opportunities at its
third annual Battery World event. These opportunities include:
entering the world’s first B-sample Joint Development Agreement
(JDA) with a major automotive OEM, a machine-based deep learning
platform that will be utilized at its new Electrolyte Foundry, a
new form-factor for its Li-Metal cells, and opportunities in the
emerging Urban Air Mobility (UAM) market.
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the full release here:
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SES Founder and CEO Qichao Hu at Battery
World 2023 (Photo: Business Wire)
A replay of Battery World 2023 is available on SES AI’s
corporate website: CLICK HERE FOR BW23.
During the event, SES also commented on recently published 100Ah
Li-Metal cell test data, honoring the tradition of keeping data
transparency. The report shows great consistency of Li-Metal cell
performance as they scale from small 4Ah to 50Ah and 100Ah. The
100Ah Li-Metal cells show excellent performance in cold weather and
remarkable high-power performance. They also passed overcharge,
nail penetration, external short circuit, and thermal stability
tests conducted by third party and achieved UN38.3
certification.
“Safety is quality. As we build more large cells, we are also
implementing an increasingly rigorous quality manufacturing system
with full traceability to ensure practical safety. By collecting
different types of data to train our AI-powered safety software
Avatar, the prediction accuracy of our large Li-Metal cell health
monitoring has increased from only 60% last year to 92% this year,”
said Qichao Hu, SES Founder and CEO.
Deep learning for material exploration is also playing an
increasingly important role in fundamental research and
development. To speed up new material discovery, SES is building a
machine-based deep learning platform which uses a graphical neural
network model to process chemical structures and identify new
promising candidates. The Electrolyte Foundry will be located near
its corporate headquarters and will be dedicated to synthesizing
and testing new electrolyte solvent molecules recommended both by
human scientists and machines.
Apart from pouch cells, SES also displayed a new form factor,
prismatic Li-Metal cells, to meet the diversified needs of OEMs.
“Li-Metal has the highest gravimetric energy density among all
battery chemistries and UAM is another perfect end-market for
Li-Metal. We are now able to achieve more than 1500 cycles using
C/3 charge and UAM mission profile discharge,” said Hu, “30 years
ago, Sony introduced the first commercial Li-ion battery and
changed consumer electronics forever. Now, SES plans to introduce
the first commercial Li-Metal battery which could help accelerate
urban air mobility.”
About SES SES is a global leader in the development and
production of high-performance Li-Metal rechargeable batteries for
EVs and other applications. Founded in 2012, SES is an integrated
Li-Metal battery manufacturer with strong capabilities in material,
cell, module, AI-powered safety algorithms and recycling. Formerly
known as SolidEnergy Systems, SES is headquartered in Boston and
has operations in Shanghai and South Korea.
SES may use its website as a distribution channel of material
company information. Financial and other important information
regarding SES is routinely posted on and accessible through the
Company’s website at www.ses.ai. Accordingly, investors should
monitor this channel, in addition to following SES’s press
releases, Securities and Exchange Commission filings and public
conference calls and webcasts.
Forward-Looking Statements This letter contains
statements that SES believes are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include, without
limitation, statements relating to expectations for future
financial performance, business strategies or expectations for our
business. These statements are based on the beliefs and assumptions
of the management of SES. Although SES believes that its plans,
intentions and expectations reflected in or suggested by these
forward-looking statements are reasonable, it cannot provide
assurance that it will achieve or realize these plans, intentions
or expectations. These statements constitute projections, forecasts
and forward-looking statements, and are not guarantees of
performance. Such statements can be identified by the fact that
they do not relate strictly to historical or current facts. When
used in this press release, words such as “anticipate”, “believe”,
“can”, “continue”, “could”, “estimate”, “expect”, “forecast”,
“intend”, “may”, “might”, “plan”, “possible”, “potential”,
“predict”, “project”, “seek”, “should”, “strive”, “target”, “will”,
“would” and similar expressions may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking.
You should not place undue reliance on these forward-looking
statements. Should one or more of a number of known and unknown
risks and uncertainties materialize, or should any of SES’s
assumptions prove incorrect, our actual results or performance may
be materially different from those expressed or implied by these
forward-looking statements. Some factors that could cause actual
results to differ include, but are not limited to the following
risks: risks related to the development and commercialization of
SES’s battery technology and the timing and achievement of expected
business milestones; risks relating to the uncertainty of achieving
and maintaining profitability; risks relating to the uncertainty of
meeting future capital requirements; the ability of SES to
integrate its products into electric vehicles (“EVs”) and Urban Air
Mobility (“UAM") and other applications; risks relating to the
development of the UAM market and demand for batteries from the UAM
industry; the risk that delays in the pre-manufacturing development
of SES’s battery cells could adversely affect SES’s business and
prospects; potential supply chain difficulties; the ability of SES
to engage target original equipment manufacturers (“OEMs”)
customers successfully and integrate SES’s products into EVs
manufactured by OEM customers; the ability to obtain raw materials,
components or equipment through new or existing supply
relationships; risks resulting from SES’s joint development
agreements and other strategic alliances and investments; product
liability and other potential litigation, regulation and legal
compliance; SES’s ability to attract, train and retain highly
skilled employees and key personnel; the uncertainty in global
economic conditions and risks relating to health epidemics,
including the COVID-19 pandemic and any operational interruptions;
developments in alternative technology or other fossil fuel
alternatives; risks related to SES’s intellectual property;
business, regulatory, political, operational, financial and
economic risks related to SES’s business operations outside the
United States; SES has identified material weaknesses in its
internal control over financial reporting and may identify material
weaknesses in the future or otherwise fail to develop or maintain
an effective system of internal controls; the volatility of SES’s
common stock and value of SES’s public warrants; and the other
risks described in “Part I, Item 1A. Risk Factors” in our annual
report on Form 10-K for the fiscal year ended December 31, 2022
filed with the Securities and Exchange Commission (“SEC”) on March
16, 2023 and other documents filed from time to time with the SEC.
There may be additional risks that SES presently knows and/or
believes are immaterial that could also cause actual results to
differ from those contained in the forward-looking statements. In
addition, forward-looking statements reflect SES’s expectations,
plans or forecasts of future events and views only as of the date
of this press release. SES anticipates that subsequent events and
developments will cause its assessments to change. However, while
SES may elect to update these forward-looking statements at some
point in the future, SES specifically disclaims any obligation to
do so. These forward-looking statements should not be relied upon
as representing SES’s assessments as of any date subsequent to the
date of this letter.
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version on businesswire.com: https://www.businesswire.com/news/home/20231213535210/en/
Investors: Eric Goldstein ericgoldstein@ses.ai
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