Highlights
- Reported $2.0 million in fourth quarter revenue; an accelerated revenue ramp is expected in 2025
- Deepened partnerships with existing automotive OEMs with commercialization of AI for Science to develop new electrolyte materials for both Li-Metal and Li-ion batteries
- All in on AI strategy powered battery material discovery to an entirely new AI-enhanced 2170 cylindrical cell for emerging humanoid robotics applications and entry into Li-ion battery applications in EV
- Commercialization of AI for Safety led to the signing of an MOU to provide up to 100 MWh advanced Battery Energy Storage System (“BESS”) solution
- FY 2024 cash usage in operations and Capex was $78.3M, below previous guidance of $80M to $95M
- FY 2025 revenue projected to be in a range of $15M to $25M
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