• Cells Equipped to Address Electric Vehicle Goals Set Forth by USABC

FREMONT, Calif. / Nov 04, 2024 / Business Wire / Amprius Technologies, Inc. (“Amprius”) (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, today announced it has shipped SiMaxx™ A-Sample EV Cells to the United States Advanced Battery Consortium LLC (USABC), whose mission is to develop advanced battery cell and system technologies to meet next-generation performance and cost goals for electric vehicles. These cells are designed to address some of the most challenging issues experienced by EV users, such as range anxiety and the need for shorter charging times.

Amprius’ own internal testing of the A-Sample EV cell has shown exceptional performance, achieving a specific energy of 360 Wh/kg at the beginning of life—surpassing the USABC program target of 275 Wh/kg at end of life—while delivering a power density of 1200 W/kg. This breakthrough could result in a significant increase in range compared to most commercial EV batteries available today. Additionally, the A-Sample EV cells can charge to 90% of their rated energy in just 15 minutes, exceeding the USABC target of 80% within the same timeframe. Based on initial results, Amprius believes it is making significant strides towards achieving its goal of 1000 cycles.

“We look forward to USABC validation of the A-sample cell performance towards showcasing the unique advantages of Amprius cells in electric vehicles,” said Dr. Kang Sun, CEO of Amprius Technologies. “This is another important battery technology development milestone at Amprius after we successfully launched high-performance silicon anode battery business in aviation and light vehicle markets. We believe our batteries are well-positioned to support all electric mobility markets. With their superior energy and power performance, fast charging, wide operating temperature range, and safety features, Amprius is continuing to transform the EV sector and other electric mobility segments as we scale toward high-volume manufacturing.”

Amprius has held technical engagements with multiple automotive OEMs and has had a long-standing collaboration with USABC. Delivered on schedule in September, the A-Sample EV cells shipment is the final milestone in the $3M USABC technology development contract awarded to Amprius in May 2022 to create a low-cost, fast-charge silicon nanowire battery. Amprius believes this achievement paves the way for additional sampling and evaluation by automotive manufacturers.

USABC is a subsidiary of the United States Council for Automotive Research LLC (USCAR), the collaborative technology company of Ford Motor Company, General Motors, and Stellantis. Enabled by a cooperative agreement with the U.S. Department of Energy (DOE), USABC's mission is to develop electrochemical energy storage technologies that advance commercialization of next generation electrified vehicle applications. In support of its mission, USABC has developed mid- and long-term goals to guide its projects and measure its progress. For more information, visit http://www.uscar.org/usabc.

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 500MWh of contract manufacturing 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 the potential application and addressable market of Amprius’ batteries, the performance of Amprius’ batteries, the ability of Amprius to transform the EV sector and other electric mobility segments, the ability of Amprius to scale toward high-volume manufacturing, and the benefits of the achievement with the USABC. 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; 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’ 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.