FREMONT, Calif. - Amprius Technologies, Inc. (NYSE: AMPX), known for its Silicon Anode Platform lithium-ion batteries, has announced a strategic partnership with battery pack manufacturer Stafl Systems. The collaboration aims to enhance electric mobility, focusing on unmanned aerial vehicles (UAV) and urban air mobility (UAM) applications.
The alliance positions Amprius as the preferred battery cell supplier for Stafl Systems, providing high-performance SiCore™ battery cells. These cells are anticipated to improve the volume, performance, safety, and reliability of custom battery packs tailored to the needs of electric mobility applications.
Stafl Systems will integrate Amprius' SiCore cells into its advanced battery packs, benefiting from the cells' high energy density. This integration is expected to set new industry standards for performance and reliability, addressing a growing demand for sophisticated battery solutions in electric mobility.
Ronnie Tao, Vice President of Business Development at Amprius, expressed confidence that the partnership would foster innovation and meet the evolving needs of the electric mobility market. Erik Stafl, President of Stafl Systems, also conveyed excitement about the collaboration, highlighting the potential to redefine industry benchmarks for battery performance and reliability.
Amprius Technologies, headquartered in Fremont, California, produces lithium-ion batteries boasting the industry's highest reported energy density. The company has expanded its operations to a facility in Brighton, Colorado, to meet customer demand for its SiCore™ platform.
Stafl Systems, with a focus on various industries including aviation and defense, offers battery packs featuring advanced cooling, safety systems, and highly accurate Battery Management Systems (BMS).
The partnership is expected to expand both companies' market reach and share in the high-performance battery segment. This news is based on a press release statement and contains forward-looking statements that involve risks and uncertainties, including market demand and production capabilities. Further details about these risks are available in documents filed with the Securities and Exchange Commission.
InvestingPro Insights
Amprius Technologies, Inc. (AMPX) has been making strategic moves to bolster its presence in the electric mobility sector, as evidenced by the recent partnership with Stafl Systems. While such developments point to potential growth, it is essential to consider the company's financial health and market performance for a comprehensive understanding.
InvestingPro Data shows that AMPX holds a market capitalization of $161.21 million, which is relatively modest in the high-tech battery industry. Despite a remarkable revenue growth of 105.33% in the last twelve months as of Q4 2023, the company's gross profit margin stands at a concerning -162.11%, indicating that it has been spending more on production than it has been able to earn back in sales.
One of the InvestingPro Tips highlights that AMPX holds more cash than debt on its balance sheet, which is a positive sign of liquidity and financial stability. However, it is also noted that the company is quickly burning through cash, which could be a point of concern for investors looking at long-term sustainability.
Another critical point from InvestingPro Tips is that analysts do not anticipate the company will be profitable this year. This aligns with the adjusted P/E ratio of -4.38, suggesting that investors are expecting negative earnings.
For readers interested in a deeper dive into Amprius Technologies' financials and market outlook, additional InvestingPro Tips are available. There are 14 more tips that can provide further insights, such as sales growth projections and the company's stock performance over various periods.
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