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FREMONT, Calif.--(BUSINESS WIRE)--May 8, 2023--
Amprius Technologies, Inc. ("Amprius” or the “Company") (NYSE: AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, is supplying battery cells to the University of Michigan Solar Car Team. The University of Michigan Solar Car Team is slated to compete in the Bridgestone World Solar Challenge – the world’s toughest and most prestigious solar car race, requiring teams to design, develop, and pilot a solar-powered vehicle along a 3,000-kilometer transcontinental Australian route from the northern city of Darwin to the southern city of Adelaide.
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University of Michigan Solar Car Team Selects Amprius Technologies for Prestigious World Solar Car Challenge. Pictured is the 16th solar car, Aevum, which successfully completed the Michigan Sun Run, a 3000-mile-long endurance run from New York to California during the summer of 2022. (Photo: Business Wire)
“Amprius was founded from Stanford University research, so supporting collegiate STEM programs is close to our heart. The University of Michigan's Solar Car Team brings a long history of excellence and is considered the most successful solar car racing team in the Western Hemisphere. We are honored they selected Amprius to power its vehicle for the world’s most demanding endurance solar car race,” said Dr. Kang Sun, Chief Executive Officer of Amprius. “Our industry-leading silicon anode batteries enable long run time while enduring wide temperature and pressure ranges – ideal for the arduous conditions the University of Michigan team will face Down Under.”
The University of Michigan Solar Car Team is a student-run organization of over 150 undergraduates and postgraduates that builds, tests, and races highly competitive solar-powered electric vehicles on national and international competition circuits. For 2023, the University of Michigan Solar Car Team focused on incorporating novel manufacturing and assembly procedures to optimize performance. The team evaluated various battery options and ultimately selected Amprius cells over competitors based on their industry-leading high-power density and lightweight design. These features make the Amprius cells the best choice for achieving the team's efficiency goals.
“We are excited to work with Amprius as we have been following the technology for some time,” said University of Michigan Solar Car Team Project Manager Will Jones. “Amprius’ cells stood out compared to other batteries we tested and showed a superior level of performance giving us confidence they can withstand the challenging conditions experienced throughout the race. At the last Bridgestone World Solar Challenge in 2019, our team finished in third place. Our new partnership with Amprius is a part of our strategy to close that gap and elevate our performance to new heights.”
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 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 a pilot manufacturing facility for the fabrication of 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.
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’ 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 increase in flight time that Amprius’ battery cells could potentially bring to AeroVironment’s Block 20 system, the ability of Amprius to build a large-scale manufacturing facility and expand its manufacturing capacity, and the potential application and performance of Amprius’ batteries. 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 risks related to the performance of Amprius’ batteries; Amprius’ ability to commercially produce its high performing batteries; supply shortages in the materials necessary for the production of Amprius’ products; Amprius’ ability to successfully negotiate a lease agreement under reasonably acceptable terms; delays in construction and operation of production facilities; risks related to the rollout of Amprius’ business and the timing of expected business milestones; 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 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2023, 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/20230508005221/en/
CONTACT: Investors
Cody Slach, Tom Colton
Gateway Group, Inc.
949-574-3860
IR@amprius.comMedia
Zach Kadletz, Brenlyn Motlagh
Gateway Group, Inc.
949-574-3860
Amprius@Gatewayir.com
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: MOTOR SPORTS SPORTS UNIVERSITY EV/ELECTRIC VEHICLES AUTOMOTIVE EDUCATION TECHNOLOGY BATTERIES ALTERNATIVE VEHICLES/FUELS ALTERNATIVE ENERGY ENERGY
SOURCE: Amprius Technologies, Inc.
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PUB: 05/08/2023 08:30 AM/DISC: 05/08/2023 08:31 AM
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