SES AI to acquire UZ Energy for $25.5M

SES AI (SES) announced it has executed a definitive agreement to acquire 100% of UZ Energy, an energy storage systems provider, for a purchase price of approximately $25.5M, subject to earnout adjustment based on the achievement of specified financial targets. The acquisition is expected to close in the third quarter of 2025 and is subject to customary closing conditions. The acquisition is expected to generate exponentially growing revenue in the $300B global ESS market in the next three years.