The advancements in battery technology are anticipated to significantly reduce greenhouse gas emissions and support global sustainability goals by facilitating a transition from fossil fuels to electric alternatives.

The company plans to complete these battery developments within 12 to 18 months, demonstrating a commitment to timely innovation in the electric vehicle sector.

Revenue from these contracts is expected to be partially recognized in the fourth quarter of 2024, with the remainder anticipated by mid-2025.

The company's innovative AlphaPhase platform is designed to create next-generation lithium-metal and lithium-ion batteries tailored to the specific needs of automotive partners, potentially revolutionizing battery design.

Founder and CEO Qichao Hu highlighted that these contracts serve as a validation of the commercial application of AI in battery material discovery for the automotive sector.

SES AI's commitment to sustainability aligns with global trends towards environmental, social, and governance (ESG) practices, appealing to socially-conscious investors.

These contracts, which involve two major global OEM partners, aim to leverage AI for Science in the advancement of Li-Metal and Li-ion batteries.

SES AI Corporation, a frontrunner in AI-enhanced battery technology, has secured contracts valued at up to $10 million to develop new electrolyte materials for automotive batteries.

These $10 million contracts may be seen as initial validation agreements, with the potential for expansion based on the success of these developments.

However, the environmental impact of increased battery production, particularly concerning lithium extraction, presents challenges that necessitate responsible sourcing and recycling practices.

Founded in 2012 and headquartered in Boston, SES AI operates globally, including locations in Singapore, Shanghai, and Seoul, focusing on Li-Metal battery innovation.

The new batteries are expected to feature advanced cell chemistry and thermal management systems, promising improvements in energy density and safety, which are crucial for consumer acceptance.