Small Cap Up Big Following Disclosure Of Two New Contracts

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Monday, September 23, 2024

A California-based industrial company is turning heads so far on Monday after the company said it secured two new contracts worth of $20 million to provide 40 Ah high-performance cells for light electric vehicle applications, according to a press release this morning.

Traders were quick to snatch up shares of Amprius Technologies Inc. (NYSE:AMPX), with shares of the small cap trading up to $1.23/share (+38.36%) at the early session high. This move could be an indication that the stock is attempting to breakout from its multi-month downtrend.  

Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries, producing the industry’s highest-known energy density cells. The company’s commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500Wh/kg and 1,300 Wh/L. Amprius expanded its product portfolio to include the SiCore™ platform in 2024, significantly enhancing its ability to serve additional customer applications. The company’s corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into several agreements to secure over 500 MWh of contract manufacturing available today and entered into a lease agreement for a gigawatt-hour-scale facility in Brighton, Colorado.

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