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Amprius Technologies, Inc., a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, has secured over $20 million in contracts to supply 40 Ah high-performance cells for Light Electric Vehicle (LEV) applications. The company expects to begin shipping the cells in 2024 and recognize all revenue by mid-2025, demonstrating its ability to swiftly move customers through the commercial validation process and deliver large quantities of cells.
Key Highlights:
- Secured over $20 million in contracts for LEV applications
- Supplying 40 Ah high-performance cells with higher energy density
- Shipments to begin in 2024; revenue recognition by mid-2025
- Capacity to fulfill demand with over 500 MWh available
- Continuing expansion with new facilities and partnerships
Amprius’ 40 Ah high-performance cells were chosen for their higher energy density, safety features, and competitive costs. These larger format cells are specifically designed for LEV applications, validating Amprius’ position as a key player in the sector as more customers are attracted to the company’s industry-leading battery performance.
“This is another strong customer commitment following our recent 2 GWh potential LOI with a Fortune 500 company. The attraction of Amprius battery performance enables us to accelerate the customer commercial validation process of our growing sales pipeline,” said Dr. Kang Sun, CEO of Amprius Technologies. “With over 500 MWh of capacity currently available, we can quickly meet increasing demand for Amprius high-performance silicon anode batteries in light electric vehicles and aviation. This is just the beginning, and we expect this momentum to drive significant business growth, with more purchase orders on the horizon to support the expanding demand in electric mobility applications.”
In June, Amprius announced partnerships with several contract manufacturers across a network of established Asia-based facilities, allowing 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 various sectors of the electric mobility industry. In the first half of 2024, the company 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 500 Wh/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. For additional information, please visit amprius.com.
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