SES AI Corporation announced on January 29, 2025, the signing of a non-binding Memorandum of Understanding (MOU) with AISPEX, a Texas-based Retail Energy Provider. The MOU targets a purchase order pipeline of up to $45 million for advanced Battery Energy Storage System (BESS) solutions.
Under the partnership, SES AI is expected to provide high-performance BESS solutions, including its proprietary AI for Safety Battery Management System, to monitor battery health and safety. The first deployment in 2025 is anticipated to be a project of up to 30 MWh, valued at up to $13 million, for a crypto mining site in Texas.
CEO Qichao Hu stated that the energy storage market represents a total addressable market more than 10 times larger than the EV market, especially with the growth of crypto mining and data centers. This collaboration positions SES AI to extend the life of BESS and enhance battery safety through its AI-enhanced technologies.
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