The SES AI-funded research project aims to
create cutting-edge recycling technology for lithium metal.
SES AI Corporation (“SES AI”) (NYSE: SES), a global leader in
the development and manufacturing of high-performance Li-Metal
batteries, today announced that it will fund a new research
initiative at Worcester Polytechnic Institute (WPI) to develop
state-of-the-art recycling technology for lithium metal. The
initiative will be led by WPI’s Dr. Yan Wang, the William Smith
Foundation Dean's Professor of Mechanical & Materials
Engineering.
To date, recycling for lithium-ion batteries exists at an early
stage but recycling technology for Li-Metal batteries has not yet
been developed. Recycling Li-Metal batteries can be critical in the
reduction of the shortage of raw materials and environmental
problems. The technology that will be developed from this
initiative addresses this problem by developing a closed-loop, safe
and environmentally responsible Li-Metal battery recycling process
that will recover most of the battery materials, allowing the
recycled materials to be reused in Li-Metal battery manufacturing.
The recycled material will then provide a green and sustainable
solution for Li-Metal batteries.
“We are thrilled to collaborate with WPI, Professor Wang and his
team of experts on this initiative to develop a critical new
battery recycling technology that will allow SES AI to implement a
more sustainable and efficient approach to battery manufacturing,”
said Qichao Hu, founder and Chief Executive Officer of SES AI. “Not
only will this allow us to create a more environmentally friendly
process, but it will also enable us to use recycled materials that
will outperform the current commercial materials we use.”
Professor Wang is a globally recognized materials researcher,
and the co-founder of Massachusetts-based companies AM Batteries
and Ascend Elements. His research lab at WPI focuses on the study
of new electrodes and materials for energy storage, including
lithium-ion batteries, supercapacitors, flow batteries, battery
manufacturing, battery safety and recycle, and fundamental
electrochemistry.
“I feel honored and excited to work with SES AI, a global leader
on Li-Metal battery recycling,” said Professor Wang. “With the
adoption of Li-Metal batteries, it is critical to develop recycling
strategies to recycle such batteries in order to enable the supply
chain and reduce the environmental impacts. With my experience and
expertise on Li-ion battery recycling, I am confident that we will
develop a solid strategy for the end-of-life Li-Metal
batteries.”
About SES AI
SES AI Corp. (NYSE: SES) is powering the future of global
electric transportation on land and in the air with the world’s
most advanced Li-Metal batteries. SES AI is the first battery
company in the world to accelerate its pace of innovation by
utilizing superintelligent AI across the spectrum of its business,
from research and development; materials sourcing; cell design;
engineering and manufacturing; to battery health and safety
monitoring. Founded in 2012, SES AI is an Li-Metal battery
developer and manufacturer headquartered in Boston and with
operations in Singapore, Shanghai, and Seoul. Learn more at
SES.AI.
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company information. Financial and other important information
regarding SES AI is routinely posted on and accessible through the
Company’s website at www.ses.ai. Accordingly, investors should
monitor this channel, in addition to following SES AI’s press
releases, Securities and Exchange Commission filings and public
conference calls and webcasts.
About Worcester Polytechnic Institute
WPI is a top-tier STEM-focused research university and a
recognized pioneer and global leader in project-based learning.
Founded in 1865 on the principle that students learn most
effectively by applying the theory learned in the classroom to the
practice of solving real-world problems, WPI’s continued mission is
to transform lives, turn knowledge into action to confront global
challenges, and revolutionize STEM through distinctive and
inclusive education, project, and research. WPI’s project-based
curriculum engages undergraduates in solving important scientific,
technological, and societal problems throughout their education and
at more than 50 project centers around the world. Today WPI offers
more than 70 bachelor’s’, master’s, and doctoral degree programs
across 18 academic departments in science, engineering, technology,
business, the social sciences, and the humanities and arts. To help
address ongoing challenges, improve lives, and help create a more
sustainable world, WPI faculty and students pursue groundbreaking
research in such areas as the life sciences, smart technologies,
materials and manufacturing, and global initiatives. For more
information, visit www.wpi.edu.
Forward-Looking Statements
This letter contains statements that SES AI believes are
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements include, without limitation, statements relating to
expectations for future financial performance, business strategies
or expectations for our business. These statements are based on the
beliefs and assumptions of the management of SES AI. Although SES
AI believes that its plans, intentions and expectations reflected
in or suggested by these forward-looking statements are reasonable,
it cannot provide assurance that it will achieve or realize these
plans, intentions or expectations. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. Such statements can be identified by the
fact that they do not relate strictly to historical or current
facts. When used in this press release, words such as “anticipate”,
“believe”, “can”, “continue”, “could”, “estimate”, “expect”,
“forecast”, “intend”, “may”, “might”, “plan”, “possible”,
“potential”, “predict”, “project”, “seek”, “should”, “strive”,
“target”, “will”, “would” and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking.
You should not place undue reliance on these forward-looking
statements. Should one or more of a number of known and unknown
risks and uncertainties materialize, or should any of SES AI’s
assumptions prove incorrect, our actual results or performance may
be materially different from those expressed or implied by these
forward-looking statements. Some factors that could cause actual
results to differ include, but are not limited to the following
risks: risks related to the development and commercialization of
SES AI’s battery technology and the timing and achievement of
expected business milestones; risks relating to the uncertainty of
achieving and maintaining profitability; risks relating to the
uncertainty of meeting future capital requirements; the ability of
SES to integrate its products into electric vehicles (“EVs”) and
Urban Air Mobility (“UAM") and other applications; the risk that
delays in the pre-manufacturing development of SES AI’s battery
cells could adversely affect SES AI’s business and prospects; risks
relating to the development of the UAM market and demand for
batteries from the UAM industry; potential supply chain
difficulties; the ability of SES AI to engage target original
equipment manufacturers (“OEMs”) customers successfully and
integrate SES AI’s products into EVs manufactured by OEM customers;
the ability to obtain raw materials, components or equipment
through new or existing supply relationships; risks resulting from
SES AI’s joint development agreements and other strategic alliances
and investments; product liability and other potential litigation,
regulation and legal compliance; SES AI’s ability to attract, train
and retain highly skilled employees and key personnel; developments
in alternative technology or other fossil fuel alternatives; risks
related to SES AI’s intellectual property; business, regulatory,
political, operational, financial and economic risks related to SES
AI’s business operations outside the United States; SES AI has
identified material weaknesses in its internal control over
financial reporting and may identify material weaknesses in the
future or otherwise fail to develop or maintain an effective system
of internal controls; the volatility of SES AI’s common stock and
value of SES AI’s public warrants; and the other risks described in
“Part I, Item 1A. Risk Factors” in our annual report on Form 10-K
for the fiscal year ended December 31, 2023 filed with the
Securities and Exchange Commission (“SEC”) on February 27, 2024 and
other documents filed from time to time with the SEC. There may be
additional risks that SES AI 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 AI’s expectations, plans or
forecasts of future events and views only as of the date of this
press release. SES AI anticipates that subsequent events and
developments will cause its assessments to change. However, while
SES AI may elect to update these forward-looking statements at some
point in the future, SES AI specifically disclaims any obligation
to do so. These forward-looking statements should not be relied
upon as representing SES AI’s assessments as of any date subsequent
to the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240419962429/en/
For the media: For SES AI: pr@ses.ai For WPI: Colleen
Wamback, cbwamback@wpi.edu
For investors: ir@ses.ai
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