SES AI to establish joint venture with Hisun New Energy Materials

SES AI (SES) announced that it has signed a term sheet to establish a joint venture with Hisun New Energy Materials, a Texas-based electrolyte contract manufacturer, to commercially supply electrolyte materials discovered by SES AI’s Molecular Universe. The joint venture, which will be 90% owned by SES AI, is subject to the execution of a binding definitive agreement, which is expected to be executed by the end of this month. In addition to the Molecular Universe’s existing SaaS model that includes software subscriptions and development services, the JV is expected to represent a new recurring revenue source for the company by supplying discovered materials to customers globally.