SES AI Shares Rise After 2 New Contracts Totaling Up to $10M

Dow Jones

01-23

By Chris Wack

SES AI shares were up 52% to $1.26 after the company signed two contracts, totaling up to $10 million, for the commercial application of its AI for Science technology for battery material discovery.

The maker of Li-Metal and Li-ion batteries said the contracts are with two existing major global OEM partners to apply AI for Science for developing new electrolyte materials for Li-Metal and Li-ion batteries for automotive applications.

The contracts are expected to result in new revenue which will be partially recognized in the fourth quarter of 2024, with the balance expected to be recognized through the first half of 2025.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 23, 2025 10:17 ET (15:17 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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