Shares of Amprius Technologies (NYSE: AMPX) continued to be volatile in pre-market trading on Thursday and were in decline after surging 77% on Wednesday.
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The manufacturer of high-energy density lithium-ion batteries stated that it had received its “first large-scale anode production machine from centrotherm, which it plans to install at its current Fremont location.”
The company anticipates that this machine is likely to ramp up its capacity for silicon anode production to around 2 MWhs (Mega Watt Hours), or ten times its current capacity, by the end of next year.
On Wednesday, Amprius also announced that the company was one of the first funding recipients from President Biden’s Bipartisan Infrastructure Law and had received a cost sharing grant of $50 million from the U.S. Department of Energy (DOE)’s Office of Manufacturing and Energy Supply Chains.
Dr. Kang Sun, Amprius’s CEO commented, “Our innovative technology was conceived at Stanford, designed and commercialized in the U.S., and now we are working to scale production capabilities to meet significant domestic demand and to accelerate the electrification of mobility with our ultra-high density silicon nanowire anode lithium-ion batteries.”
