Amprius Technologies, Inc. a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced it has received two contracts to supply 40 Ah high-performance cells for Light Electric Vehicle (“LEV”) applications. The contracts total exceeds $20 million and highlights Amprius’ ability to quickly move customers through the commercial validation process, secure volume purchase commitments, and deliver large quantities of cells to customers. Amprius expects to begin shipping the cells in 2024 and recognize 100% of the revenue by mid-2025.

Amprius’ 40 Ah high-performance cells were selected due to their higher energy density, safety features, and competitive costs. These larger format cells are specifically built for LEV applications, validating Amprius’ position as a key player in the sector as more customers are drawn to the distinct advantages of the Company’s industry leading battery performance.

In June, Amprius announced several contract manufacturers across a network of established Asia-based manufacturers, allowing for the Company to fulfill customer demand by providing immediate scale-up flexibility without incremental capital expenditures. Utilizing the available capacity, Amprius is committed to advancing commercial engagements with customers across the various sectors of the electric mobility industry. In the first half of 2024, Amprius shipped batteries to over 130 customers, 100 of which were new. Amprius is also continuing to ramp up its Fremont, California facility to 2 MWh and finalize design plans for its gigawatt-hour scale factory in Brighton, Colorado.

As the need for additional energy and power solutions in the LEV market increases, Amprius continues to work with the growing industry and announced it signed an LOI with a Fortune Global 500 leader in LEVs earlier in September.

The LEV market is expected to grow rapidly, reaching an estimated $205.7 billion by 2032, with a compound annual growth rate (CAGR) of 9.74% from 2023 onward, according to a Providence Research Report. This growth will continue to drive increasing demand for high-performance batteries across the micro-mobility sector.

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 500 MWh of contract manufacturing available today and entered into a lease agreement for a gigawatt-hour-scale facility in Brighton, Colorado.

Contacts:
Tom Colton, Greg Bradbury
Gateway Group, Inc.
949-574-3860
[email protected]

Media:
Zach Kadletz, Brenlyn Motlagh
Gateway Group, Inc.
949-574-3860
[email protected]

Source: businesswire.com