SES to Host Battery World 2023 and Announce World’s First Automotive B-sample JDA for Li-Metal

Rhea-AI Summary

SES AI Corporation (NYSE: SES) Announces Battery World 2023 Event Featuring Major Developments in Li-Metal Battery Technology and Expansion into Urban Air Mobility Market

BOSTON--(BUSINESS WIRE)-- SES AI Corporation (NYSE: SES) ("SES AI" or "SES"), headquartered in Boston, a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, today announced that it will host its 3^rd annual Battery World on December 12, 2023.

(Graphic: Business Wire)

During Battery World 2023, SES AI anticipates announcing several exciting new developments, including:

1. Officially entering the world’s first B-sample Joint Development Agreement (JDA) with a major automotive OEM (a key milestone for Li-Metal commercialization and the future of transportation)
2. A new form factor for its Li-Metal battery cells
3. New initiatives to launch Li-Metal batteries for the Urban Air Mobility (UAM) market

In addition to the aforementioned topics, SES AI expects to detail many other exciting initiatives.

“Battery World 2023 will be our most exciting event since our inaugural Battery World in 2021 when we first demonstrated our large capacity Li-Metal automotive cells that had energy density of ~400 Wh/Kg . At that time, we became the world’s first Li-Metal cell manufacturer to enter into an automotive A-sample JDA. We are now the world’s first to enter an automotive B-sample JDA for Li-Metal batteries. This achievement was the culmination of fundamental breakthroughs in material chemistry and cell engineering that led to a significant improvement in Li-Metal practical safety,” said Founder and CEO Qichao Hu. “Entering into an automotive B-sample is a major milestone towards the commercialization of Li-Metal batteries and the future of electrified transportation on land and in the air.”

Battery World 2023 will take place at the following times:

• US session: 9am EST, December 12, 2023
• Korea session: 10am KST, December 13, 2023
• China session: 10am BJ Time, December 13, 2023

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.

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; 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231113176893/en/

Investors: Eric Goldstein ericgoldstein@ses.ai

Source: SES AI Corporation

FAQ

What is SES AI Corporation announcing?

SES AI Corporation is announcing its 3rd annual Battery World event, featuring major developments in Li-Metal battery technology and expansion into the Urban Air Mobility market.

When will Battery World 2023 take place?

Battery World 2023 will take place on December 12, 2023, with sessions in the US, Korea, and China.

What are the key developments to be announced at Battery World 2023?

SES AI anticipates announcing the world’s first B-sample Joint Development Agreement with a major automotive OEM, a new form factor for its Li-Metal battery cells, and new initiatives for the Urban Air Mobility market.

What is the significance of entering into an automotive B-sample JDA for Li-Metal batteries?

Entering into an automotive B-sample JDA is a major milestone towards the commercialization of Li-Metal batteries and the future of electrified transportation on land and in the air.