Amprius Secures $15M Purchase Order for SiCoreTM Cells from Leading UAS Manufacturer

Business Wire 25-Feb-2025 8:30 AM

Successful Field Trials Lead to Follow-on Order as Amprius Batteries Are Designed into UAS Platform

Amprius Technologies, Inc. ("Amprius" or the "Company") (NYSE:AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced it has secured a $15M purchase order from a leading Unmanned Aircraft System ("UAS") manufacturer to produce its SiCore^TM cells for UAS applications. The volume purchase order follows successful field trials and qualification, leading to Amprius' battery being designed into the manufacturer's fixed-wing UAS platform. This order secures critical supply for the customer's production ramp, reinforcing Amprius' ability to provide industry-leading cutting-edge battery technology at mass production scale. Amprius expects to ship the cells in the second half of 2025.

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Amprius secures $15M purchase order for SiCore™ cells from leading UAS manufacturer. (Photo: Business Wire)

"This $15 million purchase order underscores the growing demand for Amprius' next-generation battery technology and endorses the superiority of our battery performance in the UAS sector," said Dr. Kang Sun, CEO of Amprius Technologies. "As more defense and commercial aviation customers complete their battery qualification process, we are seeing a strong pipeline of follow-on commitments. Our SiCore cells set a new standard for energy density and reliability in demanding environments, positioning Amprius to lead the rapidly expanding electric aviation sector. We anticipate continued momentum with additional high-value orders in the future."

This order, in addition to the previous $20M of secured contracts for Light Electric Vehicle ("LEV") applications announced in September, demonstrates the superior performance of Amprius' cells across a range of industries and applications. With industry-leading energy density, Amprius' SiCore cells significantly reduce UAS weight while extending flight range and endurance. These high-performance cells deliver the power required for critical UAS operations, from take-off to extended flight endurance.

In June, Amprius announced partnerships with several contract manufacturers across a network of established Asia-based manufacturers, enabling immediate availability of GWh scale production capacity without incremental capital expenditures and delay for factory construction. This expansion in manufacturing capacity positions Amprius to meet the growing demand for high-performance batteries as the UAS market continues to expand. Projected to reach $82.65 billion by 2030 with a 15.1% CAGR, the UAS market is driven by AI, automation, surveillance technology, and increased defense investments. As demand rises across military, commercial, and industrial applications, the need for advanced battery solutions will continue to grow, further strengthening Amprius' role as a leader in the electric aviation sector.

For more information, please visit the Amprius 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 SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500Wh/kg and 1,300 Wh/L. Amprius expanded its product portfolio to include the SiCore™ platform in 2024, significantly enhancing its ability to serve additional customer applications. The company's corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into several agreements to secure over 1.8GWh of contract manufacturing capacity available today. 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 when Amprius expects to ship the cells to the customer, the ability of Amprius to secure additional high-value orders, the potential applications and addressable markets of the SiCore cells, the performance of the SiCore cells, the ability of Amprius to lead the electric aviation sector with the SiCore cells, the benefits of the SiCore cells to the UAS customers, the ability of Amprius to meet the demands of the UAS market, and the projections and the demands of the UAS 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 Amprius' liquidity position; risks related to the rollout of Amprius' business and the timing of expected business milestones; the capacity and stability of Amprius' contract manufacturers; the ability of Amprius and its contract manufacturers 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.

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Investors Tom Colton, Greg Bradbury Gateway Group, Inc. 949-574-3860 IR@amprius.com

Media Zach Kadletz, Brenlyn Motlagh Gateway Group, Inc. 949-574-3860 Amprius@Gateway-grp.com