Next-Generation Battery Cells Expected to Significantly Increase Run Time
for Tactical Missile System
FREMONT, Calif.– April 12, 2023 – Amprius Technologies, Inc. (“Amprius” or the “Company”) (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, is preparing to supply commercial level shipments to AeroVironment (NASDAQ: AVAV) in support of the company’s Switchblade 300 Block 20 loitering missile system.
Amprius is providing high energy density lithium-ion battery cells to power versions of AeroVironment’s newly released Switchblade 300 Block 20 system, delivering unparalleled run time for the advanced aviation application. The integration of these lightweight battery cells into the Block 20 system is expected to increase the flight time by at least 50% – allowing for longer endurance and extended loitering capability.
“This partnership with AeroVironment further validates the potential of our silicon anode technology for advanced aviation and defense applications,” said Dr. Kang Sun, Chief Executive Officer of Amprius. “We look forward to continuing to work with the AeroVironment team to greatly improve flight time of their tactical missile systems.”
Amprius began delivering cell shipments as a supplier to AeroVironment in 2022 and is fulfilling additional commitments for the future. AeroVironment is currently integrating Amprius cells into some defense products and is a strategic investor in the Company.
“Amprius’ battery cells have the power capabilities to transform the range and mission time for our applications,” said Brett Hush, AeroVironment’s vice president and product line general manager of tactical missile systems. “This capability could allow operators to deploy loitering missile systems from a greater range to identify threats and deliver a precision lethal payload with minimal collateral effects.”
For more information on Amprius, please visit the Company’s investor relations website at https://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 energy density cells. The Company’s corporate headquarters is in Fremont, California where it maintains an R&D lab and a pilot manufacturing facility for the fabrication of silicon nanowire anodes and cells. To serve significant customer demand for its high-performance silicon anode lithium-ion batteries, Amprius recently signed a letter of intent for an approximately 774,000 square foot facility in Brighton, Colorado that initially provides a potential of up to 5 gigawatt-hours (GWh) manufacturing capacity.
Amprius’ commercially available batteries deliver up to 450 Wh/kg and 1,150 Wh/L, the industry’s highest known energy density cells available on the market today. Based on Amprius’ current level of battery performance and pilot production, the Company will be able to use its proprietary anode technology to deliver battery cells that contain energy density levels that approach 2x the performance of current commercially available graphite cells. For additional information, please visit amprius.com. Also, see the Company’s LinkedIn and Twitter pages.
About AeroVironment
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can proceed with certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, each as amended, including Amprius’ expectations, hopes, beliefs, intentions or strategies regarding the future. 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, statements regarding the increase in flight time that Amprius’ battery cells could potentially bring to AeroVironment’s Block 20 system, the ability of Amprius to build a large-scale manufacturing facility and expand its manufacturing capacity, and the potential application and performance of Amprius’ batteries. 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. These forward-looking statements are not intended to serve as, and must not be relied upon by any investors as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond Amprius’ control. These forward-looking statements are subject to a number of risks and uncertainties, including risks related to the performance of Amprius’ batteries; Amprius’ ability to commercially produce its high performing batteries; supply shortages in the materials necessary for the production of Amprius’ products; Amprius’ ability to successfully negotiate a lease agreement under reasonably acceptable terms; delays in construction and operation of production facilities; risks related to the rollout of Amprius’ business and the timing of expected business milestones; Amprius’ liquidity position; 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 “Risk Factors” section of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2023, and other documents we filed from time to time with the SEC, all of which are available on the SEC’s website at www.sec.gov. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. 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
Cody Slach, Tom Colton
Gateway Group, Inc.
949-574-3860
IR@amprius.com
Media
Zach Kadletz, Brenlyn Motlagh
Gateway Group, Inc.
949-574-3860
Amprius@Gatewayir.com
