Amprius Technologies, Inc. and BAE Systems Enter Into a Three-Year Cooperation Agreement
October 25 2022 - 08:30AM
Amprius Technologies, Inc. (“Amprius”) (NYSE: AMPX), a leader in
ultra-high energy density lithium-ion batteries with its Silicon
Nanowire Anode Platform, today announced that it has entered into a
three-year cooperation agreement with BAE Systems.
Amprius will initially work with BAE Systems’ Air business,
delivering its light weight high-energy batteries specifically
developed for electrically powered flight applications.
Both parties agree to investigate business opportunities enabled
by the use and supply of Amprius’ silicon nanowire anode batteries
for electric products being developed by BAE Systems in the UK.
“We are exceedingly pleased to enter into this cooperation
agreement with BAE Systems,” said Dr. Kang Sun, Chief Executive
Officer of Amprius. “BAE Systems is at the technological forefront
of the defense industry, and this agreement validates the potential
of our silicon nanowire anode technology for rigorous aerial
applications. We look forward to working with the BAE Systems team
to advance the development of their electric products.”
“Amprius’ innovative silicon nanowire anode battery cells have
the potential to deliver exceptional performance and so we’re keen
to work with them to explore opportunities for the electric
products that we’re developing for military applications,” said
Dave Holmes, Advanced Projects, Technology and Manufacturing
Director at BAE Systems’ Air.
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.
For additional information, please visit amprius.com.
About BAE Systems
At BAE Systems, our advanced defence technology protects people
and national security, and keeps critical information and
infrastructure secure. We search for new ways to provide our
customers with a competitive edge across the air, maritime, land
and cyber domains. We employ a skilled workforce of 90,500 people
in more than 40 countries, and work closely with local partners to
support economic development by transferring knowledge, skills and
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 Amprius’ partnership with BAE Systems and
Amprius’ ability to produce its products at a commercial level.
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 changes in domestic and foreign business,
market, financial, political and legal conditions; 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 delays in construction and
operation of production facilities. Additional information
concerning these and other factors that may impact the operations
and projections discussed herein can be found in the "Risk Factors"
section of Amprius’ current form on Form 8-K filed with the
Securities and Exchange Commission (the "SEC") on September 16,
2022, and other documents filed by Amprius 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
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Investors Cody Slach, Sophie Pearson Gateway Group, Inc.
Media Zach Kadletz, Brenlyn Motlagh Gateway Group, Inc.
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