Business Wire

SES Founder and CEO Releases Letter to Shareholders

Share

SES AI Corporation (NYSE: 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 posted to its website a shareholder letter from Founder and CEO Dr. Qichao Hu. The shareholder letter provides an overview of SES and our path to commercialization.

“While the global markets have been turbulent, we are confident in our business plan and expect to achieve several milestones in 2022, including the delivery of the world’s first lithium-metal battery A-Sample to our OEM partners,” said Dr Hu.

The shareholder letter can be found on our website at https://investors.ses.ai/news/

About SES

SES is a global leader in 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 Singapore, Shanghai, and Seoul. To learn more about SES, please visit: https://investors.ses.ai

SES may use its website as a distribution channel of material company information. Financial and other important information regarding SES is routinely posted on and accessible through the Company’s website at https://ses.ai. Accordingly, investors should monitor this channel, in addition to following SES’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.

Forward-looking statements

All statements other than statements of historical facts contained in this press release are “forward-looking statements.” Forward-looking statements can generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” and other similar expressions that predict or indicate future events or events or trends that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the development and commercialization of SES AI Corporation’s (“SES”) products, including in connection with joint development agreements, estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of SES’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of SES. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; risks related to the ability of SES to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; risks relating to the uncertainty of the projected financial information with respect to SES; risks related to the development and commercialization of SES’s battery technology and the timing and achievement of expected business milestones; the effects of competition on SES’s business; risks relating to SES’s history of no revenues and net losses; the risk that SES’s joint development agreements and other strategic alliances could be unsuccessful; risks relating to delays in the design, manufacture, regulatory approval and launch of SES’s battery cells; the risk that SES may not establish supply relationships for necessary components or pay for components that are more expensive than anticipated; risks relating to competition and rapid change in the electric vehicle battery market; safety risks posed by certain components of SES’s batteries; risks relating to machinery used in the production of SES’s batteries; risks relating to the willingness of commercial vehicle and specialty vehicle operators and consumers to adopt electric vehicles; risks relating to SES’s intellectual property portfolio; the ability of SES to issue equity or equity-linked securities or obtain debt financing in the future; and those factors discussed under “Risk Factors” in the proxy statement/prospectus of Ivanhoe Capital Acquisition Corp. relating to the business combination with SES, filed with the Securities and Exchange Commission on January 7, 2022. If any of these risks materialize or SES’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 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 press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

© 2022 SES AI Corp.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Investors: Eric Goldstein ericgoldstein@ses.ai
Media: Irene Lam ilam@ses.ai
Source: SES AI Corporation

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Starr Insurance Companies Expands in Thailand17.5.2022 22:33:00 CEST | Press release

Starr Insurance Companies (Starr) announced an agreement with FPG Insurance Holdings Limited (HK) (FPG) and local Thai shareholders to purchase FPG Insurance Public Company Limited (FPG Thailand), a Thai non-life insurance company, together with local Thai parties. Starr’s investment will be held by its Bermuda insurance company, Starr Insurance & Reinsurance Limited. The transaction is expected to close in the second quarter of 2022, subject to certain customary closing conditions, including any necessary regulatory approvals. “Thailand is an important, fast-growing insurance market — one of the cornerstones of the Southeast Asia economy,” said Maurice R. Greenberg, Starr’s Chairman & CEO. “Asia is both commercially and culturally important to Starr, as we trace our roots to an American-owned company founded in Shanghai more than 100 years ago. We look forward to serving the needs of local Thai companies and consumers through this new insurance capability.” David Zuellig, FPG regional

Emendo Biotherapeutics’ next generation CRISPR gene editing technologies achieve breakthrough results with allele-specific approach for ELANE -related Severe Congenital Neutropenia as presented at ASGCT Annual Meeting17.5.2022 22:15:00 CEST | Press release

Emendo Biotherapeutics presented the results of its next generation CRISPR-based gene editing approaches for several indications in an oral presentation and three posters at the 25th Annual Meeting of the American Society of Gene & Cell Therapy (ASGCT) held May 16-19, 2022, in Washington, D.C. Emendo presented pre-clinical data for the treatment of ELANE-related Severe Congenital Neutropenia using an allele-specific editing approach, demonstrating the power of Emendo’s dual technology platforms that enable the development of a highly specific editing composition that demonstrates no off-targets and complete allele specificity. Significantly, the lack of off-target achieved by Emendo’s engineered and optimized OMNI nuclease also eliminated any translocations. Edited patient derived CD34+ cells differentiated normally into neutrophils both in-vitro and in-vivo, showing full engraftment and reconstitution of all blood lineages, as required for the desired therapeutic effect. “ELANE-based

Piper Sandler Advises PETRONAS Chemicals Group Berhad on Acquisition of Perstorp17.5.2022 19:59:00 CEST | Press release

Piper Sandler & Co. chemicals investment banking announced today that it has advised PETRONAS Chemicals Group Berhad (PCG) on its acquisition of Perstorp Holding AB. The transaction Enterprise Value is €2,300 million and base purchase price, less adjusted net debt, is €1,538 million. It is expected to close in Q3 2022 subject to customary closing conditions. PCG is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of 12.8 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing, and selling a diversified range of chemical products, including olefins, polymers, fertilizers, methanol and other basic chemicals and derivative products. Listed on Bursa Malaysia in 2010 and with more than three decades of experience in the chemicals indust

Morinaga Milk Obtains the Registration of "New Food Ingredient" in China for Use of Its Probiotic Bifidobacterium longum BB536 in Infant and Toddler Foods17.5.2022 19:53:00 CEST | Press release

Morinaga Milk Industry Co., Ltd. (TOKYO:2264), a leading Japanese dairy product company, today announced its proprietary probiotic Bifidobacterium longum BB536 was approved by the National Health Commission (NHC) of the People’s Republic of China as a new food ingredient for use in infant and toddler foods (under the age of three) on 11th May 2022. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220517005112/en/ Morinaga Milk obtains the registration of "New Food Ingredient" in China for use of its probiotic Bifidobacterium longum BB536 in infant and toddler foods on 11th May 2022. (Graphic: Business Wire) Following a complex and lengthy registration process, the probiotic strain B. longum BB536 meets the highest standards of safety and regulatory compliance and has now completed the approval process for use as an ingredient in infant and toddler milk and food products for children under three years old in China. “We are extr

Hiro Capital Joins Knollwood and Boost VC With Major Investment in Skybound Entertainment17.5.2022 19:30:00 CEST | Press release

Hiro Capital has invested in Skybound Entertainment in a significant, undisclosed round led by Knollwood Advisory with participation from Boost VC, and follow-on participation from Com2uS and Skydance Entertainment. Skybound Entertainment is home to acclaimed franchises including The Walking Dead, Invincible, and Impact Winter. “There is nothing more powerful than storytelling, and I’m delighted that Hiro has been able to invest in Skybound Entertainment, creators and curators of extremely compelling omniverses,” said Sir Ian Livingstone, Co-Founding Partner of Hiro Capital. “Hiro’s trust in our vision will help us accelerate the evolution of existing hit franchises as well as new content for our fan base around the world,” said Skybound CEO David Alpert. Skybound brings together creators across its multi-faceted business, including comics, interactive games, audio, film, and television (traditional and digital platforms), licensing, and merchandising. Skybound has successfully franchi

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom