SES Holdings Pte. Ltd (“SES”) and ENTEK Membranes LLC announced today that they have entered into an exclusive supply agreement for innovative separator materials in the development and production of high-energy Li-Metal rechargeable batteries. Both headquartered in the US with global presence, SES and ENTEK share a vision that is not limited by geography, but that is to power the future of electric transportation with ENTEK materials and SES batteries.
In July 2021, SES announced plans to list on the New York Stock Exchange (NYSE) through a merger with Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) (“Ivanhoe”). Upon the closing of the transaction, the combined company will be listed on the NYSE under the new ticker symbol “SES”.
Dr. Rick Pekala, ENTEK Membranes Chief Technology Officer, commented, “We are delighted to be partnering with SES, a pioneer in Lithium-Metal rechargeable battery technology and production. We are pleased that SES has rewarded our collaborative commitment to the development of SES’s ground-breaking technological achievements in next-generation EV Lithium-Metal batteries in this way.”
Yongkyu Son, SES’ Chief Technology Officer stated, “We are really honored to make this commitment with ENTEK Membranes. Scaling production is always a concern when you bring a new product to market and the supply agreement with ENTEK Membranes helps us reduce supply chain issues while ensuring superior cycle life in our Lithium-Metal batteries. Supply chain disruption is a major consideration for auto makers as they look to put modern technologies in their cars, especially in the compressed timeframes that the market is demanding. SES is well positioned to fully commercialize its next generation hybrid battery technology and build Giga-scale battery production.”
About Ivanhoe Capital Acquisition Corp.
Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Ivanhoe was formed to seek a target in industries related to the paradigm shift away from fossil fuels towards the electrification of industry and society.
About SES SES is a global leader in development and manufacturing of high-performance Lithium-Metal rechargeable batteries for electric vehicles (EVs) and other applications. Founded in 2012, SES is an integrated Lithium-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Boston, with operations in Singapore, Shanghai, and Seoul.