SES AI Launches Revolutionary Battery Software, Shares Soar 12%
SES AI, a leading developer of electric vehicle batteries, has launched Molecular Universe 1.0 (MU-1), a revolutionary battery material discovery software and service platform. The company's share price soared by over 12% following the announcement, outpacing the S&P 500 index's 0.4% decline on the same day.
MU-1, set to be commercially available from October 20, 2023, has already secured two enterprise customers, generating revenue for SES AI. The software offers end-to-end assistance in all phases of material discovery, providing access to a comprehensive library of research materials and advanced search capabilities by molecule, formulation, and cell performance.
The subscription service, MU-1, promises SES AI a steady stream of recurring revenue. This marks a significant shift for the company, diversifying its revenue model beyond traditional battery development.
SES AI's Molecular Universe 1.0 has been well-received, with the company's share price reflecting investors' enthusiasm. The software's commercial availability from October 20, 2023, and its early success in securing enterprise customers indicate a promising future for SES AI's expansion into software services.
