Partnership Strengthens Amprius’ Position as the Premier Solution for High-Altitude Pseudo-Satellite (HAPS) Applications

FREMONT, Calif.--(BUSINESS WIRE)--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 completed a high-volume shipment of SiMaxx™ cells to the Korean Aerospace Research Institute (“KARI”), known as the aeronautics and space agency of South Korea, further strengthening Amprius’ position as the premier global battery solution for HAPS applications.

“This partnership with KARI achieves several of our goals, including validating our innovative technology on a global scale and highlighting our ability to provide industry-leading HAPS solutions,” said Dr. Kang Sun, CEO of Amprius Technologies. “We remain committed to delivering unmatched battery performance for the future of aerospace technology and look forward to our continued efforts in collaboration with the KARI team in the future.”

In December 2023, Amprius completed a volume shipment of its 450 Wh/kg SiMaxx cells to KARI to power their solar-powered stratospheric full-scale vehicle. Amprius SiMaxx cells are designed to reduce weight and increase aircraft flight distance range significantly. SiMaxx cells are the only known commercially available batteries that can provide enough power and endurance for HAPS overnight stratospheric flight applications and can enable higher payloads and operation in both all seasons and higher latitudes. These cells are also customizable, ensuring tasks are executed according to a company’s specifications while providing greater flexibility to meet specific energy and power needs, ultimately enhancing performance effectiveness and efficiency.

“Our pursuit of groundbreaking stratospheric missions demands cutting-edge energy solutions to meet stringent performance criteria," said Seung-jae Hwang, Project Manager of KARI’s Solar HALE project. "Integrating Amprius' ultra-high-energy density batteries into our solar-powered electrical aerial vehicle allows us to significantly enhance the overall performance and viability of our missions while redefining the cargo capability and extending flight durations in the stratosphere."

Amprius’ 450 Wh/kg custom cell form factors are positioned to improve performance across several applications, including electric aviation (high-energy drones such as HAPS) as well as high-energy storage applications for the military. These 450 Wh/kg cells are expected to be manufactured in large-scale production at Amprius’ facility 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 SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third party validation of 500 Wh/kg and 1,300 Wh/L. 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 a lease agreement for an approximately 774,000 square foot facility in Brighton, Colorado and expanded its product portfolio to include the SiCore™ platform. For additional information, please visit amprius.com. Also, see the company’s LinkedIn and Twitter pages.

About KARI

KARI is contributing to the solid development of the national economy and improvement of people's lives through new exploration and technological advancement, development, and dissemination in the field of aerospace science and technology. Its main missions are to research and develop systems and core technologies for aircraft, satellites, and space launch vehicles, and to support the development of national aerospace policies.

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 and potential applications of Amprius’ batteries, the timing and ability of Amprius to build a large-scale manufacturing facility and increase its manufacturing capacity, and the batteries to be produced at Amprius’ large-scale manufacturing facility. 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 batteries; 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

[email protected]

Media
Zach Kadletz, Brenlyn Motlagh

Gateway Group, Inc.

949-574-3860

[email protected]