SK Group Investment in SES battery technology might yield a 10 times return on investment. SK Group’s investment in Solid Energy Systems (SES), a U.S. next-generation (all-solid) battery developer, is expected to achieve at least 10 times the return on investment.
SES is preparing to list on the New York Stock Exchange (NYSE) through the year. According to the New York Investment Bank (IB) on May 5, SES is undergoing a New York-listed process with the form of a Spack merger.
SK Co., Ltd. is the second largest shareholder (12.7%) of SES, followed by founder Chi Chao Hu. General Motors (GM) and Tydesek (Singapore Sovereign Wealth Fund) are also major shareholders with a share rate of more than 10%.
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Immediately after the listing of the SES, the market capitalization is set to be over $3 billion. The listed price of competitor Quantumscape (QS), which listed in September last year, was $3.3 trillion (about 3.7 trillion won). If SES closes the listing at a similar level to QS, SK Group will have more than 10 times the return on investment. SES, a U.S. MIT lab battery startup, is competing with QS in the field of all-high-body batteries.
SES first revealed a prototype of the lithium metal battery last month in a hands-on with GM. “QS has yet to come up with a prototype,” an IB industry official said. Sk’s next-generation battery portfolio is also expected to have a positive effect.
SK is the only three lithium-ion company to have teamed up with an all-vehicle battery developer. Samsung SDI is developing its own all-body battery.
Chi Chao, SES founder:
Who commercializes small, light, and long-lasting all-body batteries first is an essential condition for survival in the electric mobility (automobiles, aircraft, etc.) industry.
Hu told reporters In a solo interview with The Korea Economic donghuip@hankyung.com Daily, “it will be a game-long day in 2025.”
- Listed in the second half of the investment of SES, a U.S. all-high-body development company… More than 10 times expected revenue
SK Group re-established as ‘investment stick’… Next-generation battery ‘jackpot’ this time, April 5, 2021
