Amprius Successfully Completes Safe Cell Development Program for the U.S. Army

By: Amprius Technologies, Inc. via Business Wire

July 17, 2023 at 08:30 AM EDT

Production Deliveries of Advanced Battery Packs for Mission-Critical Applications Scheduled in 2023

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 completion of a critical technology development program in collaboration with the U.S. Army. The program successfully delivered Amprius’ 390 Wh/kg safe cells with a gel polymer electrolyte, passing the rigorous Military Performance Specification Nail Penetration Test per the requirements of section 4.7.4.4. of the MIL-PRF-32383 (Military Performance Specification). When integrated into a battery pack, this cutting-edge technology more than doubles the energy density of existing solutions, significantly extending mission time.

Concurrently, Amprius has achieved significant progress in its Army-funded Manufacturing Technology (ManTech) program, an industrial preparedness program focused on addressing Army-wide manufacturing requirements. The company has successfully achieved its manufacturing milestone for mass production processes. The completion of the manufacturing technology development initiative under ManTech includes the delivery of safe cells for battery packs that merge technology for mass production with a mission-critical product, thereby facilitating large-scale deployments. Amprius remains committed to working closely with its partner, Inventus Power, to deliver these Conformal Wearable Batteries ("CWB") packs to the US Army before the end of 2023.

"We take immense pride in the successful completion of our technology development program for the US Army soldiers' central power source, the CWB," said Dr. Kang Sun, CEO at Amprius Technologies. "This accomplishment solidifies our commitment to delivering innovative battery solutions that surpass industry standards and address the evolving needs of our armed forces. At Amprius, our teams in Fremont, California, are committed to delivering state-of-the-art technologies that provide game-changing performance for our soldiers."

These advancements are part of a larger program (U.S. Department of Defense Contract), which outlined Inventus Power as a participant in a competition to supply conformal wearable batteries to the U.S. Army. This program represents a significant opportunity, with a total value of $1.25 billion through 2030.

The Amprius team is honored to have collaborated with the U.S. Army on this critical initiative. This accomplishment further reinforces Amprius' position as a leading provider of advanced battery solutions for mission-critical applications.

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 pilot manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius recently 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, statements regarding the performance of Amprius' batteries and the timing when Amprius plans to deliver the battery packs to the US Army. 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 Amprius' liquidity position; risks related to the rollout of Amprius' business and the timing of expected business milestones; 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. More information on these risks and uncertainties that may impact the operations and projections discussed herein can be found in the documents we file from time to time with the Securities and Exchange Commission (the "SEC"), all of which are available on the SEC's website. 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.