Amprius Technologies, Inc. (NYSE:AMPX) stock rose in Monday premarket trading after the company secured a grant of up to $75 million from the U.S. Department of Defense.
The funding will support converting an existing U.S. electric vehicle battery production line into a facility that makes high-energy-density battery cells for unmanned aerial systems.
The project aims to establish high-volume U.S. production of advanced batteries for Group 1, 2 and 3 drones.
Amprius Wins Up To $75 Million For U.S. Battery Production
Amprius plans to retrofit an existing U.S.-based EV battery production line operated by a major South Korean manufacturer.
The upgraded facility is expected to be completed in early 2028. It will have an annual production capacity of about 12 million Amprius cells.
The batteries are designed to meet domestic sourcing requirements under the National Defense Authorization Act.
The conversion project is expected to cost about $100 million. That includes in-kind contributions from Amprius and its South Korean partner.
The new line will expand Amprius’ contract manufacturing network. It will also increase the company’s capacity to supply NDAA-compliant pouch cells to customers at scale.
The project will further expand Amprius’ manufacturing footprint across China, South Korea and the United States.
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Revenue Outlook Tops Wall Street Estimate
In August, Amprius reported a second-quarter adjusted loss of 2 cents per share, in line with expectations.
Quarterly revenue of $34.03 million beat the $29.30 million analyst estimate.
For fiscal 2026, Amprius expects revenue above $140 million, above the $132.10 million estimate.
The company expects a GAAP loss of 8 cents per share, compared with the estimated loss of 7 cents per share.
Amprius carries a Buy consensus rating with an average price forecast of $31.50.
Jones Trading initiated coverage in July with a Buy rating and a $30 price forecast. Clear Street initiated coverage in June with a Buy rating and a $33 price forecast. Needham maintained its Buy rating and $20 price forecast in March.
What Amprius Technologies Does
Amprius develops silicon anodes and lithium-ion batteries for high-energy-density applications.
The company focuses on markets including aviation, electric vehicles, and light electric vehicles. Its batteries are also used in drones and high-altitude pseudo-satellites, where weight and energy density are critical.
The company designs its silicon anodes to replace graphite anodes used in conventional lithium-ion batteries.
Its manufacturing processes are also designed to work with existing battery production infrastructure and supply chains. That makes funding for large-scale production an important part of the company’s growth strategy.
AMPX Price Action
AMPX Price Action: Amprius Technologies shares were up 9.54% at $10.68 during premarket trading on Monday, according to Benzinga Pro data.
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