The addition of Krzanich, former CEO of Intel Corp. and CDK
Global Inc., comes as SES AI gains value-creating momentum on its
path to commercialization in the electric vehicle (EV) market and
in its expansion into urban air mobility (UAM) applications.
SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in
the development and manufacturing of high-performance Li-Metal
batteries, is pleased to announce that Brian Krzanich, who served
as Chief Executive Officer at both Intel Corp. and CDK Global Inc.,
has joined the board of directors as an independent director,
effective January 26, 2024.
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Brian Krzanich, former CEO of Intel Corp.
and CDK Global Inc., joins SES AI Board of Directors. (Photo:
Business Wire)
Mr. Krzanich began his career at Intel as an engineer, rising
through the ranks until he was named the company’s CEO in 2013.
Under his leadership, Intel expanded from its core CPU market into
next-generation technologies ranging from cloud computing and
artificial intelligence to autonomous vehicles, among others. When
he moved to CDK Global Inc. in 2018 to take over as CEO, he led
that technology company through a successful sale to investment
firm Brookfield Business Partners. CDK is now a top provider of
automotive retail software.
“Brian brings extensive leadership experience in the
commercialization of next-generation technologies for automotive
applications,” said Qichao Hu, founder, Chairman and CEO of SES AI.
“His expertise will be particularly valuable as we seek innovative
ways of developing and implementing AI and machine learning in our
material discovery and manufacturing processes – advancements that
will ultimately improve the performance and safety of our
batteries.”
The expansion of SES AI’s board comes a month after the company
announced that it entered into the world’s first B-sample Joint
Development Agreement (JDA) with a major automotive original
equipment manufacturer (OEM) for its Li-Metal battery. It is also
developing a machine-based deep learning platform that will be used
at the company’s new Electrolyte Foundry; a new form-factor for its
Li-Metal cells; and is exploring opportunities in the emerging
Urban Air Mobility (UAM) market.
“I am excited to join the Board of SES AI, a leader in
next-generation battery technology that will bring new experiences
and range to our electrified world," Mr. Krzanich said.
In addition to Mr. Krzanich and Dr. Hu, SES AI’s Board of
Directors includes Dr. Jiong Ma, a former partner at Braemar Energy
Ventures who also served in senior roles at 3i Group and Bell Labs;
Eric Luo, former CEO of GCL System Integration and Shunfeng;
Michael Noonen, CEO of Swave Photonics; Prof. Jang Wook Choi of
Seoul National University; and Anirvan Coomer, managing director at
GM Ventures.
About SES AI
SES is a global leader in the development and production of
high-performance Li-Metal rechargeable batteries for electric
vehicles (EV) and urban air mobility (UAM) applications. Founded in
2012, SES AI 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 offices 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; the risk that delays in
the pre-manufacturing development of SES’s battery cells could
adversely affect SES’s business and prospects; risks relating to
the development of the UAM market and demand for batteries from the
UAM industry; 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; 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/20240129746465/en/
For the media: Christine Dunn, Seven Letter
christine@sevenletter.com
For investors: Scott Deitz, Seven Letter
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