Company Announcements

In its report, the global leader in Li-Metal battery development for EV and UAM discusses how sustainability will be a core commitment of SES AI’s strategy, with a fully integrated approach – from research & development through supply chain and manufacturing

WOBURN, Mass.--(BUSINESS WIRE)--Jun. 5, 2024-- SES AI Corporation “SES AI” (NYSE: SES), a global leader in the development and manufacturing of high-performance Li-Metal batteries, released its inaugural sustainability report “SES AI Cares” outlining the four fundamental sustainability commitments.

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SES AI Cares presents a unique approach to sustainability, representing the company’s commitment to fully incorporating sustainable processes and metrics across the entirety of its business, from research and development through supply chain and manufacturing processes worldwide.

“Our commitment to creating a better world means making our strategy and our sustainability efforts a single, deeply integrated whole,” said SES AI CEO Qichao Hu. “Our mission is not only battery making but also driving the global transformation towards sustainable electric transportation on land and in the air.”

SES AI Cares focuses on four fundamental sustainability commitments:

1. Relentless Innovation: to address intricate R&D requirements, SES AI combines human expertise and the power of AI to achieve continuous breakthroughs in battery development.
   1. Avatar – AI for Safety: SES AI is working towards a goal of a near 100% safety guarantee in the field by building and training deep learning models with cell design data, manufacturing quality data, and vehicle testing data.
   2. Apollo – Human Engineering: SES AI is developing cell design, engineering and manufacturing processes for both internal and customer requirements in EV and UAM.
   3. Prometheus – AI for Science: SES AI is mapping the vast universe of small organic molecules, building and training new AI models, and identifying suitable molecules for next generation Li-Metal electrolyte materials.
   4. Hermes – Human R&D: SES AI is formulating and testing electrolytes based on novel molecules recommended by both human scientists and AI using high-throughput capability.
      
      
2. Traceable and Sustainable Value Chain:
   
   In 2024, SES AI launched a new research program in collaboration with Worcester Polytechnic Institute (WPI) to pioneer cutting-edge recycling technology tailored specifically for Li-Metal batteries.
   
   SES AI’s Supplier Code of Conduct incorporates sustainability related considerations into partnerships, contracts, and expectations with vendors of critical materials.
   
   
3. A New Era of Sustainable Mobility:
   
   SES AI was the first company in the world to enter into Li-Metal A-sample Joint Development Agreements (JDAs) with three major automotive OEMs – Honda, GM, Hyundai.
   
   SES AI is the world’s first battery company to have two automotive B-sample JDAs in Li-Metal with major automotive manufacturers.
   
   SES AI is currently converting an A-sample line into a dedicated Li-Metal battery line tailored specifically for UAM applications.
   
   
4. Empowering People:
   
   SES AI is committed to acting in accordance with best practices in the areas of compensation and benefits, safety in the workplace, labor rights, non-discrimination, diversity and inclusion, and training.

The full SES AI Cares sustainability report can be found here https://ses.ai/sustainability/.

About SES AI

SES AI Corp. (NYSE: SES) is powering the future of global electric transportation on land and in the air with the world’s most advanced Li-Metal batteries. SES AI is the first battery company in the world to accelerate its pace of innovation by utilizing superintelligent AI across the spectrum of its business, from research and development; materials sourcing; cell design; engineering and manufacturing; to battery health and safety monitoring. Founded in 2012, SES AI is an Li-Metal battery developer and manufacturer headquartered in Boston with operations in Shanghai and Seoul. Learn more at SES.AI.

SES AI may use its website as a distribution channel of material company information. Financial and other important information regarding SES AI 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 AI’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

Forward-Looking Statements
This press release contains statements that SES AI 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 AI. Although SES AI 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 AI’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 AI’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 AI’s battery cells could adversely affect SES AI’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 AI to engage target original equipment manufacturers (“OEMs”) customers successfully and integrate SES AI’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 AI’s joint development agreements and other strategic alliances and investments; product liability and other potential litigation, regulation and legal compliance; SES AI’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 AI’s intellectual property; business, regulatory, political, operational, financial and economic risks related to SES AI’s business operations outside the United States; SES AI 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 AI’s common stock and value of SES AI’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, 2023 filed with the Securities and Exchange Commission (“SEC”) on February 27, 2024 and other documents filed from time to time with the SEC. There may be additional risks that SES AI 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 AI’s expectations, plans or forecasts of future events and views only as of the date of this press release. SES AI anticipates that subsequent events and developments will cause its assessments to change. However, while SES AI may elect to update these forward-looking statements at some point in the future, SES AI specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing SES AI’s assessments as of any date subsequent to the date of this press release.

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Source: SES AI Corporation