SES AI in MOU with’ REP’ AISPEX for $45M for BESS solutions for monitoring

SES AI (SES) Corporation announced that it has signed a non-binding Memorandum of Understanding or “MOU” with AISPEX, a Texas-based Retail Energy Provider “REP” or with a groundbreaking Virtual Power Plant platform. Under this partnership, SES is expected to provide high-performance BESS solutions including its proprietary AI for Safety Battery Management System to monitor battery health and safety. The MOU targets a purchase order pipeline of up to $45M and up to 100 MWh, with the first deployment in 2025 expected to be a project of up to 30 MWh for up to $13M , to be completed in two phases at a crypto mining site in Texas. SES AI CEO Qichao Hu commented, “Energy storage is a market opportunity we have been actively exploring as a natural fit to exploit our unique capabilities in materials discovery and superintelligent battery management through AI. Our AI-enhanced batteries can extend the life of BESS, and our AI for Safety can improve BESS battery health and safety.” “This collaboration brings together two pioneers in their respective fields,” said Paul Nie, Founder and CEO of AISPEX Inc. “By integrating SES AI’s advanced BESS technology with our EnerVision platform, we aim to deliver innovative and advanced solutions that address today’s energy challenges while setting the stage for a sustainable future.”