Ses Ai Corporation · NYSE:SES
Ses Ai — Investor Presentation (May 2022)
35 slides from Ses Ai's investor presentation, May 2022
Slide 1: Li-Metal Batteries Investor Presentation
1 Li-Metal Batteries INVESTOR PRESENTATION
Slide 2: SES Investment Highlights
2 SES INVESTMENT HIGHLIGHTS Li-Metal Batteries with Leading Energy Density Designed for Manufacturing at Scale Data & AI Algorithm Advantage, Supported by Strong IP, Enhance Battery Safety Nearly a Decade of R&D and Capital Investments A-Sample Joint Development Agreements with General Motors, Hyund
Slide 3: Backed by Strategic Investors & Operators
3 BACKED BY STRATEGIC INVESTORS & OPERATORS 3
Slide 4: Our Team
4 OUR TEAM DR. QICHAO HU ROHIT MAKHARIA JING NEALIS JOANNE BAN Founder President Chief Financial Officer Chief Legal Officer Chief Executive Officer Chief Operating Officer Chief Corporate Officer • Forbes 30 Under 30 • 19 years with General • 18 years of finance • 17 years legal, corporate, Motors
Slide 5: What Does the Market Need in a Battery?
5 WHAT DOES THE MARKET NEED IN A BATTERY? Energy Density Cost Lifetime Fast Charging Safety 5
Slide 6: The First Step-Function Increase in Energy Density Since 1990s
6 THE FIRST STEP-FUNCTION INCREASE IN ENERGY DENSITY SINCE 1990s 500 450 Li-Metal 400 Winning Lighter 350 300 Li-ion (Si-C) Technologies Are Significantly Wh/kg 250 Li-ion 200 (C) 1990s Smaller and Lighter Than 150 NiMh 1980s Their Precedents 100 NiCd 1890s 50 Lead Acid 1850s 0 0 200 400 600 800 1,0
Slide 7: Li-Metal Is the Battery of the Future
7 LI-METAL IS THE BATTERY OF THE FUTURE Li-ion Li-Metal 260 Wh/kg, 730 Wh/L Projected 400 Wh/kg, 1,000 Wh/L, Energy Density Illustrative BEV range: ~350 miles Illustrative BEV range: ~540 miles Most widely manufactured Significantly cheaper Cost battery technology today long-term ~1,000 cycles Proje
Slide 8: SES Is Positioned to Become a Leading Next-Gen Battery Provider
8 SES IS POSITIONED TO BECOME A LEADING NEXT -GEN BATTERY PROVIDER The Next Generation of Battery Leaders Will Require… Leading Li-Metal Technology A Path to Manufacturing at Scale 8
Slide 9: Why SES Li-Metal?
9 WHY SES LI-METAL? Conventional Li-ion All-Solid-State Li-Metal SES Li-Metal Anode Solid-State Separator Separator Never Demonstrated at Scale Solid-State Cathode Cathod Never Demonstrated at Scale e Energy Density ✓ Energy Density ✓ Energy Density ✓ Manufacturability Manufacturability ✓ Manufactur
Slide 10: SES Li-Metal Batteries Are Denser, Cheaper, Lighter, Safer, Faster, Smarter
10 SES LI-METAL BATTERIES ARE DENSER CHEAPER LIGHTER Projected 400 Designed to be Ultra-thin Wh/kg and 1,000 manufacturable at Li-Metal anode Wh/L, leading to scale using reduces battery significantly longer existing weight and driving range infrastructure and production cost processes SAFER FASTER
Slide 11: Our Story
11 OUR STORY Laboratory Coin Cell 2012 Founded Dr. Qichao Hu (Forbes 30 Under 30), Donald Sadoway (Time 100) 10 Coin Cell Spun Out of MIT + Series A Funding Research 2013 Collaborated with A123 3/4 Layer Cells Years of Research 2015 Series B Funding (New Investors: ) and Development 300 mAh Developm
Slide 12: Pre-Production to Production Roadmap
12 Pre-Production 20+ Layer Cells 2021 Demonstrated Apollo prototype > 100Ah cell and announced Shanghai Giga 2022 A Sample: Pre-Production OEM Development Production 30+ Layer Cells 2023–2024 Production Begins At 1 GWh Shanghai Giga 100 Ah A-Sample 2025 Production Begins At 30 GWh Expansion Facilit
Slide 13: Battery World 2021 - Apollo Introduced
13 Battery World 2021 - Apollo™ Introduced a 107 Ah Li-Metal battery that is the largest in the world and a breakthrough for the automotive industry 107Ah 0.982 kg 417 Wh/kg 935 Wh/L 13
Slide 14: Cell Capacity Comparison by Major Manufacturers
14 Cell Capacity Comparison by Major Manufacturers Cell Capacity (Ah) 200 202Ah 150 117Ah 100 100Ah 100Ah 78Ah 3.5Ah(18650) 4.8Ah(2170) 60Ah 50 9Ah(4680) 50Ah 20Ah 1Ah / / / Note: Third-party cell capacity information is as of the most recently available public information for each third party.
Slide 15: Li-Metal Can Make Nickel-Free Chemistries Like LFP Competitive
15 Li-Metal Can Make Nickel-Free Chemistries Like LFP Competitive
Slide 16: A-Sample Joint Development Agreements with OEMs
16 A-SAMPLE JOINT DEVELOPMENT AGREEMENTS WITH 3 OEMS 16
Slide 17: Our Partnership with GM
17 OUR PARTNERSHIP WITH GM + Strong History and Relationship with One of World’s Most Forward Thinking EV OEMs …And a Close Partner of SES General Motors Is a Believer in an EV Future… 2015 – 2019 $10MM equity investment from GM Close technical and R&D collaboration March 2021 $50MM+ joint developme
Slide 18: Our Partnership with Hyundai
18 OUR PARTNERSHIP WITH HYUNDAI + Partnership With a Well-Positioned Global Leader in the Future of EVs …And Are Believers in SES’s Technology Hyundai Is Committed to an Electric Future… December 2020 Pre-A JDA May 2021 $50MM equity investment Hyundai Will Only Sell Signed A-Sample JDA Electric Cars
Slide 19: Our Partnership with Honda
19 OUR PARTNERSHIP WITH HONDA + Financial and Strategic Alignment With a Leading Innovator and Global Automotive Manufacturer …And SES Believes We Are Well-Positioned to Help Honda Is Pushing Towards Ambitious EV Honda Get There Goals… Honda Goes All In on JDA A-Sample Joint Development Agreement wi
Slide 20: Technology @SES
TECHNOLOGY 2 @SES
Slide 21: Development of an OEM-Ready Battery
21 DEVELOPMENT OF AN OEM-READY BATTERY Power: 300 mAh 3 Ah 6 Ah 9 Ah 50 Ah 100 Ah Layers: 3/4 layers 30/31 layers 30/31 layers 30/31 layers 16/17 layers 32/33 layers Research Development & Engineering Pre-Production 2013 – 2016 2016 – 2021 Today 21
Slide 22: Our Demonstrated Performance
22 OUR DEMONSTRATED PERFORMANCE 3RD PARTY VALIDATED? Energy Measured (4 Ah): 370 Wh/kg, 700 Wh/L ✓ Density Projected (100 Ah A-sample): >400 Wh/kg, >1,000 Wh/L --- Cost Manufactur- ability Demonstrated multi-layer cells can be built using Li-ion-like assembly process ✓ Up to approximately 800 cycles
Slide 23: Solving the Dendrite Challenge
23 SOLVING THE DENDRITE CHALLENGE Anode Separator Cathode 23
Slide 24: Safety Further Enhanced Using Our Machine Learning Algorithm
Our Proprietary Safety Algorithm can Detect Early 24 Formation of Dendrites by Monitoring Certain Proprietary Key Parameters Illustrative Dendrite Monitoring Over Cycle Life Anomalous Cycle Proprietary Parameter Normal Cycle Cycle Life SAFETY FURTHER ENHANCED USING OUR MACHINE LEARNING ALGORITHM 24
Slide 25: Innovative and Proprietary Electrolyte Composition
25 INNOVATIVE AND PROPRIETARY ELECTROLYTE COMPOSITION SES electrolyte uses a high concentration solvent-in-salt approach. A conventional Low Concentration High Concentration Most solvent molecules are Solvent almost fully coordinated liquid electrolyte is low concentration, uncoordinated No free sol
Slide 26: Manufacturability @SES
MANUFACTURABILITY 2 @SES
Slide 27: SES Li-Metal Is the Most Practical Approach
27 SES LI-METAL IS THE MOST PRACTICAL APPROACH All-Solid-State Li-Metal SES Li-Metal Lithium Metal Anode Enables Anode Step-Function Increase in Anode Energy Density Coating SES Proprietary Liquid Electrolyte and Anode Coating Increase Safety and Cycle Life Solid-State Separator Separator Separator
Slide 28: Our Intellectual Property
28 OUR INTELLECTUAL PROPERTY Holistic IP Portfolio With Robust IP Capture Program Materials Cells/Packs/Modules • Electrolyte • Anode-Free • Salt • Anode-Light • Anode • High Energy Density • Separator 124 patents (1) • Packs / Modules (Expandable & Constrained) 25 trade secrets, know-how in each of
Slide 29: SES Li-Metal Battery Technology
29 SES LI-METAL BATTERY TECHNOLOGY Wide Format Li-Metal Anode • Ultra-thin Li-Metal anode manufactured through a proprietary process Composite Anode Coating • Mechanical barrier to enhance safety Polymer-Based Separator • Highly manufacturable state-of-the-art separator Solvent-in-Salt Liquid Electr
Slide 30: Our Footprint
30 OUR FOOTPRINT Boston HQ + Shanghai Giga + Korea Positions SES to Realize Scale in Multiple High-Growth Markets BOSTON SHANGHAI • Chemistry, materials, • Manufacturing process algorithm R&D development • Finance • Cell, module, BMS R&D • Headquarters • Pilot plant • OEM collaboration Korea Boston
Slide 31: SES Shanghai Giga
31 SES SHANGHAI GIGA Highlights • Expected Completion: 2023 • Size: 300,000 Square Feet • Capacity: 1GWh 3131
Slide 32: Our Roadmap for Success
32 OUR ROADMAP FOR SUCCESS 2021 2022 2023 2024 2025 2026 2027 2028 Technology Development: Li-Metal Systems Development Research & Joint Development Agreements Shanghai Giga: 1 GWh (2024) Commercialization Execute Cell Supplier or JV Cell Plant: 10 GWh (2025) Ramping to 30 GWh (2028) OEM JV OEM Cell
Slide 33: ESG: Part of Our DNA
33 ESG: PART OF OUR DNA DECARBONIZATION RESPONSIBLE RECYCLING SUSTAINABLE SOURCING High energy density batteries are key to SES is developing a comprehensive As SES scales production, our electric vehicle adoption. SES is positioned lithium metal recycling program partnership with Ivanhoe will help
Slide 34: Disclaimer
34 DISCLAIMER INDUSTRY AND MARKET DATA Although all information and opinions expressed in this Presentation, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, SES has not independently verified the information
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