Colorado Selected for Strategic Geographic
Location, Extensive Manufacturing Infrastructure, Significant
Factory Capacity Potential and Comprehensive Incentives Package
Factory Expected to be Equipped with Advanced
Manufacturing Processes and Equipment to Produce U.S. Designed
High-Performance Lithium-Ion Batteries to Serve Electric Mobility
Market
Selected in October 2022 for Negotiation of
Award for a $50 Million Cost-Shared Demonstration Grant from Biden
Administration’s Bipartisan Infrastructure Law to Support Domestic
Battery Production
Amprius Technologies, Inc. (“Amprius” or the
“Company”) (NYSE: AMPX), a leader in lithium-ion batteries with
its Silicon Anode Platform, today announced it has signed a letter
of intent for a 775,000 square foot facility in Brighton, Colorado.
The factory, targeted to be operational in 2025, will be built in
phases starting with an initial 500 megawatt-hours (MWh) with the
potential of up to 5 gigawatt-hours (GWh) within the initial
footprint. This capacity increase is a significant expansion to
Amprius’ manufacturing capacity and will serve strong customer
demand for its high-performance silicon anode lithium-ion
batteries.
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Amprius Technologies Selects Colorado for
Gigawatt-Hour Scale Factory Site (Photo: Business Wire)
Amprius selected Colorado for its high-volume manufacturing
facility following an extensive evaluation of key criteria across
three states. Specifically, the location has a 1.3 million square
foot existing factory site equipped with the electric power and
structural layout ideal for a gigawatt-hour scale lithium-ion
battery factory, reducing expected build-out costs. Also, this
facility is in closer proximity to essential materials, as well as
critical transportation infrastructure, together limiting
logistical and operational costs. Overall, this site exceeded the
Company’s requirements and is expected to both streamline
time-to-market and drive effective customer fulfillment. Execution
of the lease agreement remains subject to ongoing negotiations.
“The selection of Colorado for our gigawatt-scale factory marks
an important milestone for Amprius,” said Dr. Kang Sun, Chief
Executive Officer of Amprius Technologies. “We worked closely
with the state of Colorado, the Colorado Economic Development
Commission, Adams County, and the City of Brighton to align on
terms that are mutually beneficial and include a comprehensive
incentive proposal. Increasing production to meet the substantial
market demand for our breakthrough silicon anode lithium-ion
technology remains a priority, and we are confident this factory
will allow us to scale and effectively serve the electric mobility
market.”
To further intensify the focus on product and technology
development and the emphasis on manufacturing scale up, the Company
has formed two business units. Amprius Fab, to be located in
Brighton, Colorado, will focus on large scale manufacturing of
silicon anode batteries, and Amprius Lab, located in Fremont,
California, will focus on advanced battery technology, product, and
manufacturing process development. To support this transition, Jon
Bornstein, currently the Company’s COO, will take a new role to
lead Amprius Lab as the division President. Bornstein has led
Amprius’ silicon anode development and pilot production over 10
years and is exceptionally well-suited for the role. In the
interim, Dr. Sun will serve as the acting President of Amprius
Fab.
Colorado Governor Jared Polis commented, “We need more
batteries to power the future, and now we will be manufacturing
more of them right here in Colorado. We are excited to welcome
Amprius to Colorado, bringing over 300 new good-paying jobs and
joining Colorado’s innovative and collaborative business
community.”
Colorado U.S. Senator John Hickenlooper commented, “We
need more batteries for our clean energy future and we should build
them right here in America. Thanks to our Bipartisan Infrastructure
Law, Amprius is making Colorado the home for that future.”
The initial phase of 500 MWh will be funded in part by the $50
million cost sharing grant selected for negotiation of award in
October 2022 from the U.S. Department of Energy (“DOE”)’s Office of
Manufacturing and Energy Supply Chains (“MESC”). Amprius is among
the first set of companies announced to receive funding from
President Biden’s Bipartisan Infrastructure Law to expand domestic
manufacturing of batteries, specifically focused on U.S.-based
processing of materials and components. The initial phase is
expected to create over 330 new jobs and be operational in 2025.
For subsequent phases, the site has both additional square footage
and acreage available to realize up to an expected total potential
manufacturing capacity of 10 GWh.
For more information on Amprius, please visit the Company’s
investor relations website at https://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 energy density cells. The company’s corporate
headquarters is in Fremont, California where it maintains an
R&D lab and a pilot manufacturing facility for the fabrication
of silicon nanowire anodes and cells.
Amprius’ commercially available batteries deliver up to 450
Wh/kg and 1,150 Wh/L, the industry’s highest known energy density
cells available on the market today. Based on Amprius’ current
level of battery performance and pilot production, the Company will
be able to use its proprietary anode technology to deliver battery
cells that contain energy density levels that approach 2x the
performance of current commercially available graphite cells. For
additional information, please visit amprius.com. Also, see our
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, Section
21E of the Securities Exchange Act of 1934, and the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995, each as amended, including Amprius’ management
team’s expectations, hopes, beliefs, intentions or strategies
regarding the future. 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 timing and ability of Amprius to build a
large-scale manufacturing facility, expand its manufacturing
capacity and scale its business, the number of jobs that will be
created in the manufacturing process, and the expected sources of
funding to build the 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. These
forward-looking statements are not intended to serve as, and must
not be relied upon by any investors as, a guarantee, an assurance,
a prediction or a definitive statement of fact or probability.
Actual events and circumstances are difficult or impossible to
predict and will differ from assumptions. Many actual events and
circumstances are beyond Amprius’ control. These forward-looking
statements are subject to a number of risks and uncertainties,
including Amprius’ ability to successfully negotiate a lease
agreement under reasonably acceptable terms; delays or failure in
rezoning the land for its manufacturing facility; delays in
construction and operation of production facilities; risks related
to the rollout of Amprius’ business and the timing of expected
business milestones; the effects of competition on Amprius’
business; supply shortages in the materials necessary for the
production of Amprius' products; the termination of government
clean energy and electric vehicle incentives or the reduction in
government spending on vehicles powered by battery technology;
Amprius’ liquidity position; 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
"Risk Factors" section of our Quarterly Report on Form 10-Q filed
with the Securities and Exchange Commission (the "SEC") on November
14, 2022, and other documents we filed from time to time with the
SEC, all of which are available on the SEC’s website at
www.sec.gov. If any of these risks materialize or our assumptions
prove incorrect, actual results could differ materially from the
results implied by these forward-looking statements. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230306005206/en/
Investors Cody Slach, Tom Colton Gateway Group, Inc.
949-574-3860 IR@amprius.com
Media Zach Kadletz, Brenlyn Motlagh Gateway Group, Inc.
949-574-3860 Amprius@Gatewayir.com
Amprius Technologies (NYSE:AMPX)
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