Advanced Silicon Anode Batteries More Than Double the Mission Time for Critical Applications Versus Existing Solutions
FREMONT, Calif. – January 3, 2024 – Amprius Technologies, Inc. (“Amprius” or the “Company”) (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced the successful volume shipment of advanced battery cells in a program supported by the U.S. Army by the end of 2023 as previously committed. This marks a significant milestone for Amprius in its U.S. Army-funded Manufacturing Technology (ManTech) program, an industrial preparedness effort focused on scaling critical Army-wide manufacturing requirements.
Amprius has successfully completed its scale-up manufacturing initiative under ManTech (a $3 million development program grant), which included the delivery of safe cells for soldier-worn battery packs that merge technology for mass production with a mission-critical product, thereby facilitating large-scale deployments. Amprius, while working closely with its partner, Inventus Power, has fulfilled the shipment of the silicon anode safe cells to support delivery of the Conformal Wearable Batteries (“CWB”) packs to the U.S. Army.
“We are honored to have collaborated with ManTech on this critical initiative to meet the U.S. Army’s manufacturing needs for power sources,” said Dr. Kang Sun, CEO of Amprius Technologies. “Our cells, which have passed the nail penetration test, provide safe power solutions for U.S. Army batteries while more than doubling their energy. Amprius’ silicon anode batteries provide significantly higher energy density and double the mission time compared to existing power resources. We’re dedicated to providing battery technology advancements that transcend current limitations and chart the course for future military power sources that supply game-changing performance for our soldiers.”
These shipments are also part of a larger program as outlined in a briefing on a U.S. Department of Defense Contract from May of 2021[1], which outlined Inventus Power as a participant in a competition to supply conformal wearable batteries to the U.S. Army. The wearable battery market represents a significant market opportunity for Amprius, with a total value of $1.25 billion through 2030. This accomplishment further reinforces Amprius’ position as a leading provider of advanced battery solutions for mission-critical applications.
In addition to expanding the Company’s relationship with the U.S. military, Amprius’ ManTech grant provided the Company with an opportunity to further optimize the process for Amprius’ silicon nanowire technology mass production. Today, Amprius is finalizing its automation, testing and manufacturing process cost-reduction initiatives in order to prepare for large-scale production in Colorado targeted to be operational in 2025.
For more information, please visit the Company’s investor relations website at ir.amprius.com.
About Amprius Technologies, Inc.
Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries producing the industry’s highest known energy density cells. The company’s commercially available batteries deliver up to 450 Wh/kg and 1,150 Wh/L. The company’s corporate headquarters is in Fremont, California where it maintains an R&D lab and a megawatt hour (MWh) manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into a lease agreement for an approximately 774,000 square foot facility in Brighton, Colorado. For additional information, please visit amprius.com. Also, see the company’s LinkedIn and Twitter pages.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, the potential application and performance of Amprius’ batteries, the ability of Amprius to build its large-scale facility and expand its manufacturing capacity, the addressable market for Amprius’ batteries, and the estimated size of the wearable battery market. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Amprius’ management and are not predictions of actual performance. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. These forward-looking statements are subject to a number of risks and uncertainties, including delays in permitting, construction and operation of production facilities; Amprius’ liquidity position; risks related to the rollout of Amprius’ business and the timing of expected business milestones; Amprius’ ability to commercially produce high performing batteries; the effects of competition on Amprius’ business; supply shortages in the materials necessary for the production of Amprius’ products; and changes in domestic and foreign business, market, financial, political and legal conditions. For more information on these risks and uncertainties that may impact the operations and projections discussed herein can be found in the documents we filed from time to time with the Securities and Exchange Commission (the “SEC”), all of which are available on the SEC’s website at www.sec.gov. There may be additional risks that Amprius does not presently know or that Amprius currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Amprius’ expectations, plans or forecasts of future events and views as of the date of this press release. These forward-looking statements should not be relied upon as representing Amprius’ assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Except as required by law, Amprius specifically disclaims any obligation to update any forward-looking statements.
Contacts:
Investors
Tom Colton, Chris Adusei-Poku
Gateway Group, Inc.
949-574-3860
IR@amprius.com
Media
Zach Kadletz, Brenlyn Motlagh
Gateway Group, Inc.
949-574-3860
Amprius@Gateway-grp.com
[1] “Contracts for May 12, 2021,” U.S. Department of Defense, May 12, 2021, https://www.defense.gov/News/Contracts/Contract/Article/2605292/#ARMY051221.
