Amprius’ State-of-the-Art Gigawatt-Hour Scale Factory in Colorado Passes Major Milestone

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Amprius On Track to Operationalize its Growth Engine to Serve Strong Customer Demand for High-Performance Silicon Anode Lithium-Ion Batteries and Fuel the Electric Mobility Market

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 that the Brighton City Council approved an ordinance to rezone an approximately 103 acre site, including an existing 1,278,455 square foot facility, to allow, among other matters, the Company to manufacture its next-generation lithium-ion batteries. This marks a significant milestone clearing the path for Amprius to establish its state-of-the-art gigawatt-hour scale factory site to meet growing customer demand.

"This approval from the Brighton City Council marks an important step towards our goal to begin operations at Amprius Fab in the first half of 2025,” said Dr. Kang Sun, Chief Executive Officer of Amprius. “Establishing the first silicon anode battery production facility in Brighton, Colorado, represents a pivotal milestone for the United States in building a local ecosystem that advances electric mobility. We thank the City of Brighton staff and City Council for all their dedicated work and efforts in handling the rezoning application. Additionally, we extend our appreciation to the community members who participated in the process.”

With this project, Amprius aims to repurpose a significant portion of Colorado’s largest single-story industrial building and transform it into a state-of-the-art lithium-ion battery manufacturing facility. This factory site is expected to greatly increase Amprius’ manufacturing capacity, with an initial 500 megawatt-hours (MWh) and the potential of up to 5 gigawatt-hours (GWh) available within the existing footprint. The projected timeline for the factory site is between 18–24 months.

After conducting an exhaustive nationwide search, Colorado emerged as the most compelling location for the Company due to its proximity to key suppliers, highly skilled workforce, and the unwavering support of both the City of Brighton and the State of Colorado. Amprius looks forward to providing generational opportunities by creating more than 300 new local jobs, investing $190M in Phase 1 with more phases to follow and partnering with local universities and high schools in developing their STEM programs. Today’s pivotal rezoning underscores a firm commitment to Colorado's vision of becoming a trailblazer in the clean energy sector, which encompasses battery manufacturing, wind, and solar industries.

“We have been partnering with Amprius through the evaluation and design phase for pre-construction services for over 9 months,” said Scott D. Bulera, Vice President / General Manager of Industrial & Advanced Manufacturing - EV / Battery at Turner Construction Company. “We have the teams ready to execute on the plan.”

This is the second expansion initiative undertaken by Amprius. Exiting 2023, Amprius Labs expected to provide 10x capacity to serve existing customers and new customer qualifications and de-risking the Company’s expected growth starting in 2025. The first phase of the capacity will be focused on the aviation sector, estimated to be over $49 billion in battery demand by 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 batteries deliver up to 450 Wh/kg and 1,150 Wh/L. The company’s corporate headquarters is in Fremont, California where it maintains an R&D lab and Amprius Lab where it currently manufactures silicon anodes and cells. To serve customer demand, Amprius recently entered into a lease agreement for an approximately 774,000 square foot facility in Brighton, Colorado. For additional information, please visit amprius.com. Also, see the company’s LinkedIn and Twitter pages.

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 timing and ability of Amprius to begin construction, 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, the ability of Amprius to meet the demands from existing customers and to engage new customers, the investment of Amprius in the large-scale facility, the expected benefits of the large-scale facility to Brighton’s local community, the timing and ability of Amprius to expand its Fremont facility and increase its capacity, the addressable market for Amprius’ batteries, the potential application and performance of Amprius’ batteries, and the estimated size of the aviation battery market. 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 appeal of Brighton City Council’s rezoning decision; 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’ products; the risk that Amprius’ high volume tools do not achieve sufficient quality or yield or that its manufacturing process does not meet cost targets; 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 . 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.

Investors
Tom Colton, Chris Adusei-Poku
Gateway Group, Inc.
949-574-3860
IR@amprius.com

Media
Zach Kadletz, Brenlyn Motlagh
Gateway Group, Inc.
949-574-3860
Amprius@Gateway-grp.com

Source: Amprius Technologies, Inc.

Released September 28, 2023