Amprius Wins $75M DoD Grant to Build UAS Battery Line in U.S.
AMPX sits 24% above its 52-week low of $7.71.
Summary
Amprius secured a grant of up to $75 million from the U.S. Department of War to retrofit an existing EV battery production line for high-energy density cells for unmanned aerial systems. The project, expected to cost about $100 million including in-kind contributions, aims to produce 12 million cells annually by early 2028 and meet NDAA domestic sourcing requirements. This is a significant non-dilutive capital infusion that expands Amprius' U.S. manufacturing footprint and strengthens its defense supply chain positioning. The award follows strong Q2 results and a $97.5M ATM offering completed in January, providing additional growth capital. Key risks include that a majority of the award remains subject to future appropriations and milestone achievement.
At the time of this announcement, AMPX was trading at $9.53 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $7.71 to $24.23. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.