BAE To Leverage Amprius' Lightweight EV Batteries For Flight Applications

Author: Anusuya Lahiri | October 25, 2022 10:30am

• Lithium-ion battery provider Amprius Technologies, Inc (NYSE:AMPX) forged a three-year cooperation agreement with BAE Systems PLC (OTC:BAESF) (OTC:BAESY).
• Amprius will initially work with BAE Systems' Air business, delivering its lightweight high-energy batteries specifically developed for electrically powered flight applications.
• Both parties agreed to investigate business opportunities enabled by using and supplying Amprius' silicon nanowire anode batteries for electric products developed by BAE Systems in the U.K.
• Amprius CEO Dr. Kang Sun said, "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.
• In October, Amprius won a $50 million cost-sharing grant from the U.S. Department of Energy's Office of Manufacturing and Energy Supply Chains.
• The funding from President Biden's Bipartisan Infrastructure Law will help it to expand domestic manufacturing of batteries for electric vehicles and the electrical grid.
• Price Action: AMPX shares traded lower by 3.95% at $11.19 on the last check Tuesday.

Posted In: AMPX BAESF BAESY