SES AI (SES) Evercore ISI 3rd Annual Global Clean Energy and Transition Technologies Summit summary

Technology and innovation

• Focus on lithium metal batteries for EV and urban air mobility (UAM), leveraging AI for science and safety.

• Developed world-record electrolyte with 99.6% Coulombic efficiency for lithium metal cells.

• Uses AI to map small molecule space for electrolyte discovery, accelerating material development.

• AI-driven Avatar model monitors battery health and predicts incidents, improving safety and quality.

• AI for manufacturing identifies key process variables impacting quality, reducing learning cycles from decades to years.

Commercial partnerships and market progress

• Joint development agreements (JDAs) with major automakers, including GM, Hyundai, and Honda.

• Achieved B-sample JDAs for EVs, with the latest B-sample line being built and operated in Hyundai's facility in Korea.

• Plans for future C-sample lines to be operated as joint ventures with OEMs and battery companies.

• UAM market is growing faster than expected, with several companies receiving type certification in 2024.

• Converted A-sample lines to produce UAM cells, targeting early revenue from UAM in the first half of next year.

Cost structure and scalability

• Manufacturing process for lithium metal cells mirrors lithium-ion, using similar assembly and cathode sourcing.

• Electrolyte is proprietary but scalable; anode cost is minor and supported by partners.

• Overall cost per kWh for lithium metal is expected to be similar to lithium-ion when using the same cathode and process.