SES News & Events

SES AI and Top Material announced plans to collaborate to boost cell manufacturing capacity in Korea for drones and urban air mobility applications and lay the foundation for compliance with the U.S. National Defense Authorization Act. The collaboration, the primary terms of which have been set out in a non-binding agreement between SES AI and Top Material, is subject to the negotiation and execution of a definitive agreement between the parties, which is targeted for Q1 2026.

Qichao Hu, Founder and CEO of SES AI, noted, "The last few months have been transformative for SES AI, as we acquired UZ Energy, entered a joint venture with Hisun, and unveiled the latest version of Molecular Universe. We also increased our 2025 year-end revenue target to $20 million to $25 million to include UZ Energy's contribution. At both the Detroit Battery Show and on our Live Demo in October, we received an overwhelmingly positive response to MU-1 from existing customers and potential new users on how it provides complete end-to-end material discovery capability and the potential to accelerate battery material discovery from years to just tens of minutes. We see our Hisun JV as a new source of recurring revenue which allows us to continue a capex-light approach by leveraging Hisun's manufacturing capacity to expand and commercialize our electrolyte materials and battery cell supply strategies for our customers. With the closing of our accretive UZ Energy acquisition, we have developed a go-to-market strategy to grow market share in ESS in not only UZ's existing markets in Europe, Australia and Asia but also in the United States. As we close out 2025, SES AI is well positioned for deployment of our excess liquidity for future M&A opportunities, continued share repurchases, and increasing the commercialization of MU-1 by building the best AI platform for energy transition."