Amprius Technologies, Inc. (AMPX) announced on Monday that it has secured a grant of up to $75 million from the U.S. Department of War. The funding will support the conversion of a domestic electric-vehicle battery production line into a facility for manufacturing high-energy density cells designed for unmanned aerial systems.
The award, granted under the Industrial Base Analysis and Sustainment program, is aimed at fostering high-volume U.S. production of advanced batteries for Group 1-3 drones, enhancing national capabilities in aerospace technology.
Amprius stated that the conversion project is estimated to cost around $100 million, incorporating in-kind investments from the company and its South Korean partner. The initiative is scheduled for completion by early 2028, targeting an annual capacity of 12 million cells.
In pre-market trading on the NYSE, Amprius shares increased by 0.10% to $9.77, following a 0.62% rise during Friday’s regular session.
