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SES AI Corporation has successfully completed its business combination with Ivanhoe Capital Acquisition Corp, now trading on the
On February 1, 2022, shareholders of Ivanhoe Capital Acquisition Corp. (IVAN) approved a business combination with SES Holdings Pte. Ltd. The transaction is set to finalize on February 3, 2022, and may provide over $480 million in cash for the combined entity. The deal includes a $275 million PIPE offering from notable investors including Honda, GM, and Hyundai. Post-transaction, the new entity will be known as SES AI Corporation, with trading expected to begin under the ticker symbols "SES" and "SES WS" on February 4, 2022.
SES Holdings Pte. Ltd. is set to finalize its business combination with Ivanhoe Capital Acquisition Corp. (IVAN) following shareholder approval expected at an Extraordinary General Meeting on
SES Holdings has entered a joint development agreement with Honda to develop high-performance Li-Metal batteries for electric vehicles (EVs). This partnership positions Honda as the largest single investor in SES’s PIPE financing, contributing to a total of $275 million. The agreement reflects Honda's strategy for next-generation batteries, joining industry leaders like General Motors and Hyundai. Following the pending business combination with Ivanhoe Capital Acquisition Corp. (NYSE: IVAN), Honda will hold approximately 2% of the combined company shares.
SES Holdings and ENTEK Membranes have established an exclusive supply agreement for advanced separator materials aimed at enhancing high-energy Li-Metal rechargeable batteries. This partnership is designed to address production scaling and supply chain challenges in the electric vehicle market. SES plans to list on the NYSE via a merger with Ivanhoe Capital Acquisition Corp (IVAN) to further commercialize its next-generation battery technology, aiming for Giga-scale production.
SES Holdings Pte. Ltd., a leader in high-performance lithium-metal battery development, announced its participation in the Baird 2021 Global Industrial Conference on
SES has unveiled Apollo™, the world's first 100+ Ah Li-Metal battery, featuring a capacity of 107 Ah and energy density of 417 Wh/kg. Additionally, SES announced its Shanghai Giga facility, set to be the largest Li-Metal production site globally, covering 300,000 square feet and capable of producing 1 GWh annually, expected to be operational in 2023. SES is collaborating with GM and Hyundai to launch A-sample batteries by 2025, marking a significant step in EV battery technology, advancing towards commercial production.
SES Holdings Pte. Ltd. will be featured at the inaugural Battery World U.S. event, where they plan to announce the world’s largest Li-Metal battery and a production facility. This follows the company's merger announcement with Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) in July 2021, resulting in listing on NYSE with the ticker 'SES.' The event is scheduled for November 3, 2021, at 11 a.m. ET. Founded in 2012, SES specializes in high-performance Li-Metal rechargeable batteries for electric vehicles, with operations in Singapore, Boston, and Shanghai.
SES Holdings Pte. Ltd. has announced its inaugural Battery World virtual events for introducing its hybrid lithium-metal (Li-Metal) batteries for electric vehicles (EVs). The events will take place in the U.S. on November 3, 2021, followed by sessions in South Korea and China on November 4, 2021. Dr. Qichao Hu, SES's CEO, will present major advancements in battery technology. Following the U.S. event, attendees will participate in a Q&A session. SES plans to list on the NYSE through a merger with Ivanhoe Capital Acquisition Corp (IVAN), rebranding under the new ticker symbol SES.
SES Holdings Pte. Ltd. has launched the world’s first pilot production line for high-concentration, solvent-in-salt electrolyte production, specifically for its hybrid lithium-metal batteries aimed at electric vehicles. This Shanghai facility can produce 5 tons of electrolyte per year, with potential expansion to 250 tons. SES’s technology promises high energy density, safety, and enhanced cycle life. The company has also signed joint development agreements with General Motors and Hyundai, positioning itself as a leader in the battery market. The SPAC merger with Ivanhoe Capital is set to create a publicly traded hybrid battery company.