Ses Ai Corporation · NYSE:SES
Ses Ai — Investor Presentation (March 2025)
37 slides from Ses Ai's investor presentation, March 2025
Slide 1: AI-Enhanced High Energy Density and High Power Density Li-Metal and Li-ion Batteries
AI-Enhanced High Energy Density and High Power Density Li-Metal and Li-ion Batteries Accelerate the world’s energy transition through material discovery and battery management Investor Presentation March 2025
Slide 2: Disclaimer
Disclaimer 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 and makes no representation
Slide 3: Evolving from R&D to Revenue Generating Businesses Ahead of Schedule
Evolving from R&D to Revenue Generating Businesses Ahead of Schedule… Automotive OEM Partnerships Deepen in Li-Metal and Open for First Time in Li-Ion EV • Global EV battery shipment is expected to grow from 974 GWh in 2024 to 3,758 GWh in 2030 1 • New AI-enhanced electrolyte generated new battery d
Slide 4: And Continuing Our Existing Development Plans for EV and UAM
…And Continuing Our Existing Development Plans for EV and UAM Seoul B-sample line (Hyundai) UAM line Boston Shanghai Avatar • AI for Manufacturing HQ, AI Electrolyte Foundry B-sample line (Honda) • AI for Safety UAM line Molecular Universe • AI for Science 2012 2017 2021 2022 2023 2024 2025 2026 Est
Slide 5: While our Material Discovery Opens New Energy Transition Markets
…While our Material Discovery Opens New Energy Transition Markets Energy Generation: solar Storage: batteries Materials Power AI Intelligence Molecular Universe: material discovery Avatar: battery safety Consumption compute centers, UAM, Data drones, robots 5
Slide 6: Proprietary Full-Chain R&D System with Focus on Upstream Material Discovery and Downstream Battery Safety
Proprietary Full-Chain R&D System with Focus on Upstream Material Discovery and Downstream Battery Safety Battery Process Battery Product Engineering Testing Intelligent Material Development & Analysis Manufacturing Management Design EV/ESS R&D Upstream Downstream Material Discovery AI4Manufacturing
Slide 7: AI for Science is finding the best electrolytes for Li-Metal and Li-ion batteries
AI for Science is finding the best electrolytes for Li-Metal and Li-ion batteries… + Electrolyte EC Battery Human VEC Foundry Scientist VC molecule testing and New Validation molecules synthesis and (A-sample, 103 B-sample, C- electrolyte All small molecular formulation sample, properties 1011 SOP)
Slide 8: Map of the Molecular Universe
Map of the Molecular Universe A treasure map showing all possible molecules for all battery chemistries, taking the “luck” out of material discovery 8
Slide 9: Battery-Specific Large Language Model
Battery-Specific Large Language Model A domain specific LLM trained on a cost-effective small model but achieves similar scores as much larger and more expensive models 9
Slide 10: AI for Science is validating greater cycle life in Li-Metal
AI for Science is validating greater cycle life in Li-Metal… SES Human SES Human Public Public SES SES benchmark benchmark AI Agent AI Agent Enhances Li-Metal cycle life by >20% 10
Slide 11: Enhancing Li-ion cycle life by 100%
…enhancing Li-ion cycle life by 100%... 12% 30% 100% Si Si Si Enhances 100% Si Li-ion cycle life by >100% 11
Slide 12: AI-enhanced batteries with double the energy density of traditional Li-ion
…and creating AI-enhanced batteries with double the energy density of traditional Li-ion 500 450 AI- 400 enhanced (Li-Metal, 350 100% Si Li-ion) 300 250 lighter 200 current 150 Li-ion 100 Wh/kg 50 0 0 200 400 600 800 1,000 1,200 Wh/L. smaller 12
Slide 13: SES AI-enhanced cells are now applicable to both Li-Metal and Li-ion across many applications
SES AI-enhanced cells are now applicable to both Li-Metal and Li-ion across many applications… 13
Slide 14: Including EVs, UAMs, Drones, Robotics and Many More
…including EVs, UAMs, Drones, Robotics and Many More EV UAM DRONES ROBOTICS DRONES 14
Slide 15: The Most Exciting New Market Opening for SES AI is in Battery Energy Storage
The Most Exciting New Market Opening for SES AI is in Battery Energy Storage New Industrial Re-revolution Superintelligent Digital Chemistry Battery Revolution Management 15
Slide 16: Huge Growth Potential Driven by Behind-the-Meter and Data Center Customers in the US
We See Huge Growth Potential Driven by Behind-the-Meter and Data Center Customers in the US Global ESS Battery Shipments - by Application (GWh) Global ESS Battery Shipments - by Region (GWh) 1,400 2020-24A 2024A-30E 1,400 CAGR: CAGR: 300 180 2024A-30E 2020-24A CAGR: 29.3% 350 31.2% 400 CAGR: 82.5% 2
Slide 17: Major Milestone Ahead of Schedule with Revenue in Q4 2024, Stronger Year Projected in 2025
We Reached a Major Milestone Ahead of Schedule with Revenue in Q4 2024, with an Even Stronger Year Projected in 2025 Fourth Quarter 2024 Financial Highlights 1 Revenue: $2 million 2025 Financial Guidance Operating Expense: $31 million Revenue Outlook: Cash Flow: Utilized $12.3 million and invested $
Slide 18: We Have a Plan in Place to Accelerate our Growth in 2026-2027
We Have a Plan in Place to Accelerate our Growth in 2026-2027 Focus on hiring to pursue Continuing our evolution Business model away from an R&D only greater expansion of revenue enhancements are expected battery technology company opportunities in 2025-2027 • Heavy focus on selling AI • Extending t
Slide 19: Appendix
APPENDIX
Slide 20: Battery <> AI for Science & Safety (Our Team)
Battery <> AI for Science & Safety (Our Team) JING NEALIS DR. HONG GAN DANIEL LI Chief Financial Officer Chief Science Officer Chief Manufacturing Officer 18 years of finance experience, including 25 years of battery R&D experience. 15 years of experience working in the at public companies. lithium-
Slide 21: Why Li-Metal
Why 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 Cathode Never Demonstrated at Scale Energy Density ✓ Energy Density ✓ Energy Density ✓ Manufacturability Manufacturability ✓ Manufacturability
Slide 22: A step-change from Li-ion batteries
A step-change from Li-ion batteries Transistor areal density: 2X every 18 months Battery energy density: 2X every 30 years 22
Slide 23: Li-Metal batteries
Li-Metal batteries DENSER SCALABLE >400 Wh/kg and Manufacturable at 1,000 Wh/L, scale using existing providing longer Li-ion processes range for EVs and eVTOLs LIGHTER SMARTER Ultra-thin Li-Metal AI-powered anode reduces algorithm monitors battery weight battery health Superior Technology, Safety an
Slide 24: UN38.3 & GB38031 (50Ah & 100Ah Cell)
UN38.3 & GB38031 (50Ah & 100Ah Cell) 50 Ah 100 Ah 50 Ah 100 Ah UN 38.3: Passed UN 38.3: Passed GB38031: Passed GB38031: Passed 24
Slide 25: Cell Test Data Summary Table (4Ah vs. 33Ah vs. 100Ah)
Cell Test Data Summary Table (4Ah vs. 33Ah vs. 100Ah) 4.2Ah (25+ layer) at 25ºC 33Ah (25+ layer) at 25ºC 105.8Ah (32+ layer) at 25ºC Cell Type Drone Design UAM Design EV Design Low power C/20 >375 Wh/Kg > 391 Wh/Kg > 399 Wh/Kg Room Temperature (25℃) Low power C/10 375 Wh/Kg (= 700 Wh/L at SOC 0%) 39
Slide 26: Low Temperature Performance (100Ah Cell)
Low Temperature Performance (100Ah Cell) 4.3 Excellent 4.1 per formance in col d weat her 3.9 -15ºC 0ºC 3.7 25ºC Retains 80% Voltage (V) capacity (C/3 at 3.5 -30ºC 25°C) even at -30°C 3.3 3.1 2.9 2.7 2.5 0 20 40 60 80 100 Capacity relative to 0.33C @ 25°C discharge [%] 26
Slide 27: High Power Performance (100Ah Cell)
High Power Performance (100Ah Cell) 4.3 Excellent per formance in 4.1 hi gh p ower re qui rem ent s 3.9 2C 3.7 1C C/3 Retains 90% Voltage (V) 3.5 capacity (C/3 at 3C C/10 25°C) even at 3C 3.3 3.1 2.9 2.7 2.5 0 20 40 60 80 100 Capacity relative to 0.1C @ 25°C discharge [%] 27
Slide 28: Safety Performance (100Ah Cell) - Overcharge
Safety Performance (100Ah Cell) Before Overcharge ✓ Passed (3 rd party test) After 28
Slide 29: Safety Performance (100Ah Cell) - Nail Penetration
Safety Performance (100Ah Cell) Nail Penetration ✓ Passed (3 rd party test) 29
Slide 30: Safety Performance (100Ah Cell) - External Short Circuit
Safety Performance (100Ah Cell) Before External Short Circuit ✓ Passed (3 rd party test) After 30
Slide 31: Safety Performance (100Ah Cell) - Thermal Stability
Safety Performance (100Ah Cell) Before Thermal Stability ✓ Passed (3 rd party test) After 31
Slide 32: High Power Performance (100Ah Cell)
High Power Performance (100Ah Cell) 32
Slide 33: Avatar: AI for Manufacturing + AI for Safety combined can lead to ~100% safety prediction
Avatar: AI for Manufacturing + AI for Safety combined can lead to ~100% safety prediction 2022 2023 2024 Cell manufacturing <1,000 500-1,000 >1,000 quantity per year per month per month per line Quality check points per 1,500 cell 200 600 (incl. imaging data) Avatar AI incident prediction accuracy <
Slide 34: Avatar: AI for Manufacturing + AI for Safety combined can lead to ~100% safety prediction
Avatar: AI for Manufacturing + AI for Safety combined can lead to ~100% safety prediction Traditional quality control Effectiveness of AI (type of detection vs. sample size) (need for AI prediction) VERY HIGH DESTRUCTIVE SAMPLING HIGH FULL INSPECTION MEDIUM NO NEED GENERAL TRACEABILITY 34
Slide 35: Avatar: AI for Safety (AI-based models are more accurate than physics-based models, one example)
Avatar: AI for Safety (AI-based models are more accurate than physics-based models, one example) 35
Slide 36: Avatar: AI for Safety (AI-based models are more accurate than physics-based models, more example)
Avatar: AI for Safety (AI-based models are more accurate than physics-based models, more example) 36
Slide 37: All-in on AI
All-in on AI TM