AMPX-WT · Kensington Capital Acquisition Corp. IV

Business

Company Overview

Amprius Technologies, Inc. develops, manufactures and markets lithium-ion batteries for mobility applications, including aviation, ground and marine vehicles. The company originated from a business combination with Kensington Capital Acquisition Corp. IV in 2022 and changed its name to Amprius Technologies, Inc. It has been commercially producing batteries since 2018 and has shipped over 4.2 million battery cells since inception. The core technology is a proprietary silicon anode that is a drop-in replacement for graphite anodes, providing higher energy density, power, and fast charging capabilities.

Reporting Segments

The filing does not disclose separate reporting segments; operations are described around product platforms rather than formal segment reporting.

Products & Platforms

Amprius offers two primary product platforms: SiCore, which launched commercially in January 2024, and SiMaxx, which remains in development. SiCore batteries are available in pouch, cylindrical, and prismatic formats, with design variants for Energy (up to 450 Wh/kg), Power (up to 360 Wh/kg), and Balanced Energy/Power (up to 340 Wh/kg). SiMaxx prototypes have demonstrated energy density exceeding 500 Wh/kg, but as of December 31, 2025, were still in development stage. The company is also developing an EV capable cell, having shipped SiMaxx A-Sample EV cells to USABC in November 2024.

Go-To-Market & Customers

Amprius sells directly to customers, with a significant portion of sales to Europe. Named customers include AALTO Airbus, AeroVironment, BAE Systems, Kraus Hamdani Aerospace, Nokia Drone Networks, Nordic Wing, Teledyne FLIR, and the U.S. Army. In 2025, one customer accounted for $27.1 million of revenue. The company has had over 500 customer engagements since inception. Additionally, it earns revenue from design services and initial sample cells under customer development programs.

Competition

The competitive environment includes graphite anode battery manufacturers such as ATL, CATL, LG Energy Solution, Panasonic, and Samsung SDI, as well as silicon composite anode companies like Enevate, Enovix, Group 14, Nexeon, and Sila. Amprius believes its silicon anode technology is the only solution currently suitable for broad aviation adoption given its combination of specific energy, power density, and fast charging. In EV and LEV markets, competition is intense, with many lower-cost, higher-volume producers.

Strategy

Amprius plans to leverage its contract manufacturing agreements, including the Amprius Korea Battery Alliance, to scale SiCore production beyond 2.0 GWh annually. It is expanding its Fremont facility to a 10 MWh pilot line, accelerated by a $14.8 million DIU contract. The company aims to extend its first-mover advantage in aviation, improve battery performance, and expand into EV and other end markets once cycle life and costs are competitive.

Human Capital

As of December 31, 2025, Amprius had 109 employees: 97 full-time and 12 temporary hires/contractors. Of these, 27 worked in R&D and 45 in manufacturing. Employees are primarily located at the Fremont, California headquarters. None are represented by a labor union, and the company reports good employee relations.