SES AI completed the acquisition of UZ Energy for $25.5m.

SES AI, a company specialising in development and manufacturing of AI-enhanced Li-Metal and Li-ion batteries, completed the acquisition of UZ Energy, an energy storage systems provider, for $25.5m. “Today we announced the closing of our acquisition of UZ Energy, an established player in the ESS space. This combination accelerates our growth strategy by leveraging UZ’s strong marketing team and hardware platform to expand our market share in the global $300 billion ESS market, especially in the United States. With UZ Energy, we will be producing and selling ESS hardware and software solutions that deploy safe and long cycle life materials and precise health monitoring from Molecular Universe. We expect to not only grow UZ Energy’s core business but also leverage that integration with Molecular Universe,” Qichao Hu, SES AI Founder and CEO.