SES AI Corporation announced on January 23, 2025, that it has signed contracts totaling up to $10 million with two existing major global automotive OEM partners. These contracts are for the commercial application of its AI for Science platform in battery material discovery.
The agreements focus on developing new electrolyte materials for both Li-Metal and Li-ion batteries specifically for automotive applications. This marks a significant milestone, as it applies AI-discovered electrolytes to Li-Metal B-sample developments and, for the first time, to mature Li-ion batteries already in commercial use.
Revenue from these contracts is expected to be partially recognized in the fourth quarter of 2024, with the balance anticipated through the first half of 2025. This new revenue stream validates the commercial viability of SES AI's AI for Science in accelerating battery material discovery for the automotive sector.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.