AMPX - Earnings call transcript Q4 2023 | Amprius Technologies, Inc.

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Operator

Good afternoon. Welcome to Amprius Technologies' Fourth Quarter and Full Year 2023 Earnings Conference Call.

Joining us for today's presentation are the company's CEO, Dr. Kang Sun; and CFO, Sandra Wallach. [Operator Instructions] Please note that this presentation contains forward-looking statements, including, but not limited to, statements regarding future product commercialization, new customer adoption, the timing and ability of Amprius to build its large-scale manufacturing facility, expand its manufacturing capacity, scale of business and achieve a sustainable cost structure and Amprius' financial and business performance. future and cause uncertainties achievements such Amprius' materially from known factors other to forward-looking involve achievements different may or that results, any statements. statements unknown implied and risks, important be expressed These or performance in results, performance or

to Commission. For more refer of with the and uncertainties, these a filings risks Securities discussion please complete Amprius' and Exchange

on webcast made remind would that this replay being like available is be will to everyone company's website and I Relations recording Finally, call a Investor at the for conference ir.amprius.com.

Dr. letter company Relations In Sir, comments. also results, accompanies the Amprius now be Kang webcast, proceed. addition call please CEO, can I website. to has Sun, the posted which for the Investor a shareholder to turn that his found will the on over these Technologies

Kang Sun

milestones and well, everyone, will I the our Welcome, this us you highlighting joining also today's some achieved fourth thank afternoon. accomplishments call, On the progress we for quarter, in and XXXX. report for of

CFO, before great Sandra I closing end was a will some strong results Amprius. financial for for share will After our remarks the a discuss period. the The for fourth that, call of questions. quarter Our year opening then Wallach,

density electrical to segments recap EV high-power year, all of the energy Before the may I give density a Amprius across I briefly would batteries including applications of to new the and the and aviation company. high manufacturers industries. markets, like to introduce with be who those mobility, and Amprius develops,

In as When to batteries patent patents the over command has anode and leading cell issued in decade and early to deliver of shipments Amprius manufacturing spent performance, for batteries silicon available a well XXXX, last battery have which structures silicone various us battery XXX ready the Wâ‹…h/L silicon Amprius' XXXX the power industry. XX pending energy [indiscernible] high developing silicon volumetric and X,XXX Also density cell technologies, and anode balance Wâ‹…h/L since a Amprius Wâ‹…h/kg as specific capability company portfolio designs. structures commercially and and anode comes power firm commercial XXX applications. Amprius energy a Wâ‹…h/kg, soon. density processes. a The XXXX. been platform, we be of high position anode it battery enable has pioneer chemistries and the As will strong chemistries the developed

so, performance doing Our do batteries X% Celsius, of well. production only X safety Amprius to benchmark up rate has XX penetration in battery silicone range approximately the these us our and Celsius design mobility to XXXX. States' have to extreme vehicles to enable degree fast that XX% they in electric their aircrafts in wide the targets customers our have of operate and of parameters been degrees function, military charge since also and anode tests. nail to features charge achieve but XX applications. of battery critically important a commercial temperature in state minutes Each United certain - enable pass economic enable Not is as

energy additional the came products. with customer high for can SiMaxx our for and into can our manufacturing and levels these at there significant customer batteries. other to high-performance perform our have on manufacturing that experience It's density Between belief batteries Amprius. of today we as the battery years as that no SiCore, market many density has commercial company two Company's was attention a meet demand. the today. high-power build batteries market families, major Amprius' significant attracted the So lithium-ion goals. year are priority X We quickly and transformational capacity is XXXX to year demand

to out further technology to battery anode deliver set breakthrough performance. advance we First, silicon our

strove continue we grow beyond. to executing each of new our strategy XXXX as the across made And sought on to expand progress to increasing significant in are effort wins demand these capacity we to and positioned We our continue we of a its shipment production batteries. Amprius and customer growth our areas Second, third, confident product has meet our volume. that

Specifically, achieve it Amprius we energy Last the that battery. the of our first a an noteworthy our capability. out had industry. battery design by cell for to XXXX. this cell company XXX development. this in for several in XXX electric with for year make in ideal accomplishments aviation and applications The we shipping breakthrough and technology XXX also turned platform, a year unveiled first begin cell, our Wâ‹…h/kg once knowledge, our to simultaneous our will banner our commercially power in be best a customers be to available year, Back density a battery as energy March, To solution power EVs. such unveiled Wâ‹…h/kg density mobility enable energy and chemistry Then August, [indiscernible] we delivered Wâ‹…h/kg

to our along XXXX SiMaxx. Silicon go designed beginning, commercially alternatives. cruising XXXX commercialization power XXXX. proportion and all extending running expected off, in ground on as select hit the existing We to called with energy landing, new family available well. also provide taking January, for For Nanowire as while with range flight complete evaluations the by cycle shipping in In customer as in our to and expanded eVTOL, the battery we based as modeled, necessary is the We product much this batteries customers XX% Platform, launched at

manufacturing more facility platforms to be bridge to years form used at in and short which silicon capacities greater additional We with able available additional product continued we SiCore new factors. are work us end for applications product pouch can extend we two electrical partners, U.S. of applications it here working capacity and scale demand Developed life, create our online. manufacturing space them while includes beginning the to allows to cycle capacity. XXXX. toll many highest affiliated bars transform term in and by X,XXX manufacturing The batteries, form ] [ believe have up company, platform collaboration of be Wâ‹…h/kg in also in cells Amprius cycle longer with Brazil's and toll the of flexibility, our formerly today. comes battery anode vision in to offering performance just our energy the discharge. are as that SiMaxx Colorado in density performance, mobility. revenue allow manufacturing are customers the XXX in at and more close cylindrical This expect services bring cycles we accumulation will of and high factor to achieve These both and to the Overall, our comes for capable a when that setting we full until While as serve ourselves

forward can We are technology are customer to orders. Amprius performance, confident battery lead believe trying that unmatched to performance XXXX. and our expand that the of We we level look in of highest our reach endorsement

we significant in Pangea customers, XX supply QX. reached total a quarter, in year, XX in high-performance we made to of ] book customers performance success that we progress to in a in new having. customer QX a our with Throughout had with on fourth QX. engagement the a with [ Our quarter, agreement the several out battery outstrips building technical notice as up industry furthered a QX battery our result, and shipping partnership OEM leading wins, the continues far AeroVironment, in are demand Also we our supply. long-term And from the our started automotive

across repeating many from new U.S. Alto came XX While us AeroVironment, Airbus Teledyne sector. the to who of them of Systems, as were Clear as and like mobility customers customers were well BAE and Army them electrical

and October the For manufacturer example, complete of Korean the shipments cells volume Institute we purchase announced in SiMaxx from Research in the December. order high-volume Aerospace eVTOL to

X secured successfully aviation also purchase premier manufacturers. order We the electric SiMaxx from

for applications. these XXX developed the development and these help in the U.S. HEPS their eVTOL life our qualification Also, application. Fund provide and of This have only now initiative and of we pack the demand, under customer position it To is manufacturing previous capacity. an made orders power commercially shipment environments Army cell meet for longer milestone with requirements battery safe premier Wâ‹…h/kg of HEPS first products. with customer energy highly Wâ‹…h/kg because our a for out building us Amprius' completes the progress manufacturing the platform. we collaboration overnight strategic think and completed challenging volume their stratospheric the flight program, mission-critical our available have were allows for the known large to partners batteries These XXX that important customers to in customer us which December. qualification, cycle unique in endurance wearables market, for kind new to to shipments strengthen the The and global in greater and solution a sales cell operate market can battery our density we For significant Army Manufacturing have Amprius' enough scale-up deployment our U.S. Technology enable address than as cell cells

completed we our December. received by In capacity site. Colorado, permit manufacturing of Brighton, XXx move approximately and site California allows X have in investment, megawatt this With that to production forward exiting final the Fremont, expect capacity with new First, our hour in rezoning we in line increased manufacturing our to we XXXX. large us achieve the scale

remain with have ensure in as our line. recent such track to lead electrical, systems items mechanical time ordering long time We months, plumbing made progress we and that on

the preconstruction will and work in be allow XXXX. us that are operational continuing We the also design to

Overall, In a to manufacturing major rather SiCore development, way. with successful addition to two have that our highly XXXX we battery year a manufacturing was developed provide partnerships capacity across manufacturing believe our for us capacity initiatives. we large-scale production own

growth As our it our production we expanding remains continue XXXX, technology attention capacity. we our to advancing that and turn our critical to strategy

start. are off a to We good

crucial cycle progress the from and Fremont eVTOL, the as advance to aviation like supply alliancing the electrical, production we certification that drones. Inc., fab, to received bourgeoning we Quality ASXXXX:XXXX continue Amprius preconstruction addition received on facility. In making the battery HEPS the certification helping to we activities The Assessments, to announced technology for Smithers industry, and at our

recent cell. Early capabilities these in new This recent capabilities. consecutive commercially our most Wâ‹…h/kg, underscore were as solutions. advanced for that cell. customer week, our recognize international due were this companies, SiMaxx Overall, XXX we Wâ‹…h/kg our Fast technology is one wins Wâ‹…h/L Amprius category second [indiscernible] batteries' XXX our award the and award the Company's match at our won We our the for lithium-ion this at largely no last in shown to winning we innovative further well, also best-of-show as battery that named XXXX awards the advancements, innovative we of batteries. IBS As the of year seminar for product XXXX demand can those believe offer

will I demand, over now turn production the expand path hard meet our to confident the for our Wallach are With to We capacity in quarter. to Sandra Sandra? are working CFO, that review that, call forward our the financial for and to Amprius. we results

Sandra Wallach

you, like financial a key some Kang. covering now few Thank spend I to updates. minutes would

financials can QX with a to million versus our million finished million $X.X be As XXXX. sequentially. found increase $X.X a drivers shareholder X $X.X QX the reminder, in quarter year quarter detailed revenue, of million in and compared were in fourth this letter. up net the $X.X in our We last of There same increase

quarter, our record revenue in $X.X consecutive XX year from quarterly the to by First, driven Amprius. for $X.X product by a largely shipments the million, increased million to period prior customers second

and shown remains consistent our these customers revenue, represented times than only by driven can revenue uneven in customer X our new arrive a purchase throughout have to set. diverse Also, growth at Although customer orders that year, the testament recent greater quarters. of customer XX% of customers, product we diversification largely

the are services in nature successful development Manufacturing Army of U.S. due the disparate Delivery revenue programs. $X mentioned million, non-recurring completion by increased their that our Development a services Kang Technology Second, Program to earlier. of reflection

XXXX. in XXXX by revenue. increases growth to reduction in represents a completion grant to with of due period-over-period XXX% our the revenue over government a million full these in XXXX. of results, offset the Third, QX, we $X.X two partially were rate from program million closed Pivoting This DOE year $X.X

was our the year in XXX% compared to year negative negative gross for XXX% to our metrics, profitability the Moving margin full period. prior

approach fluctuates. see construction. design As would that we've term, mix expansion will that goals. to Also, normalize prior revenue we start-up factory and we variation confident discussed costs our margin start and significant up margin in anticipated quarters, as we begin capacity as ramp gross we Longer gross our we Colorado are GAAP product as services our

Now management. operating on expense to our

increase operating year prior a $XX for Our the expenses XXXX full were million, from XX% the year.

expenses the staffing to R&D primarily continue marketing. the increases sales public a we and cost as related While targeted company maintain to attributed to transaction-related costs structure, increased well and increase and in lean G&A is as

of weighted the a outstanding. Also, based $XX.X loss full to up employees, share, net outstanding with of net shares third full-time average loss XX California share was million or end million with a number Fremont, $XX.X XX, weighted primarily million compared per $X.XX location. GAAP at loss XX.X in of with year XXXX number average in for of Our net per of as the were quarter XXXX, and there shares our XX employees from December XXXX, the those XX of $X.XX

Our share-based to compared the million million year XXXX. for compensation was $X.X in $X.X

added related used Brighton our balance we operating the our believe and using $XX.X in of for Amprius the capital used cash the million to activity we efficiently Key drivers with drive Fremont cash to our year million cash primarily inflow year are financing. we the the and to $XX.X flow, for no projects, build-out $XX.X costs sheet, equity exited Turning through business million were Considering the in million facilities achievements and of $XX.X usage ongoing of forward. and debt.

to our for outlook I like XXXX. Before the to over Kang, call turn would to take moment I a discuss back

line expect million and line to hour million cathode to completing new in We other for the support the another year. $X equipment Fremont $X this spend megawatt

As is cost expect underway, to gets the Brighton on. updates on design finalized goes construction work facility year and we finalize in construction forecast, provide our we'll and as detailed our

ATM in facility on efforts, once million. part October a As new established planning Form filed $XXX effective, our a strategic shelf of for and XXXX we S-X registration

have funding exercises that, ATM the both through our XX, and effectiveness million support $X.X additional warrant loans we issuances equity the of X raised March vehicles, million Subsequent registration back to such To Kang. incentives. With terminated of approximately nondilutive December and the including call shelf equity of shares statement. XXXX. grants, XX, under conclude concurrent and will are facility proceeds discussion sales pursuing sale have financial We facility the strategic sources as as the with plan, we under the XXXX, committed as our and multiple gross of such the ATM pass about I to through

Kang Sun

before few points closing. like Sandra. reemphasize Thanks, to a I'd key

unmatched are market. mobility First, and the combination performance Amprius' industry. with silicon anode continues positioned technology lead XX charging for battery time the temperature our to performance their power, in firm a of demonstrate and uniquely command Amprius' electrical energy,

Second, Amprius batteries are commercially available today.

bring commercial XXXX, shipping our We advancements significant have and in been to customer demand. technological products continue since

we XXX our quarter, and delivered to not This as only customers repeat customers new expand technical engagements, added well. we

and building in we Our robust, pipeline our book further demand look forward customer quarters. out coming is to the

are a supply capacity ahead to We helps significant believe the of serve and near-term SiCore some us that introduction meet demand we our U.S.-based scaling manufacturing the chain. support demand. Third, of

the possible Brighton, begin process customers production, additional efforts for new our cells deliver SiMaxx innovative opportunity several current and year secure to so we of increasing in the to in capacity facility forward cells to and continue continue SiCore gigawatt-scale looking optimize are innovate XXX and commercialize we our of is XXXX, push we're as our products, our exciting deliver Fremont to ramp bring toll boundary Finally, mass to our up in maximize that looking XXXX, market what customers, we megawatts ahead. are to of milestones manufacturing In cell production SiMaxx customers in our Wâ‹…h/kg batteries the Colorado, can of that construction industry. to to our to and fully and new hundreds

Amprius strategy of to the As we focus our at remains unchanged. rest the look and year,

productive both to year a off batteries us XXXX years. are leading to that continuing of with wearable look a market market other for was growth to XX with we the aviation in deliver by We and path enormous, in forward strong a is start. company, have opportunities XXXX battery coming growth for performance. X.XX the portfolio and support very promised aviation front Q&A. Amprius' planned believe in XXXX, XXXX for Amprius seeking market the We conformal that you. operator that, ahead. ahead a continued industries what by I positions year the it have The XXX Technologies. back Thank to expand you for and product market opportunity billion Amprius of a battery including at we EV which billion turn battery the will XXXX, billion Thank to your in and With to tremendous

Operator

And at Instructions]. first [Operator and one this line time, participant your requests questions. comments one from Colin to our limit And that question. Please comes question we'll for & open up their question The the Company. with state company Oppenheimer follow-up. Rusch each

Unknown Analyst

you're is customer This so pursuing the is What with feedback direction opportunity for to far? then you Could and speak Lidya initial Colin. the SiCore?

Kang Sun

We since feedback of the time. for We customers. have middle We from some XXXX. received working been the explore on strong SiCore this very a market

are form last flexibility. in have to This a the cell we has significant product only as pouch SiCore the Currently, So energy us well. supplying not factor we particular few cylindrical cell supply enable been years. making

Unknown Analyst

on ramp, is ramp-up Great. best in are you pool? Have of equipment figured And on then balance my going? your then And sheet? surprises Colorado, out permitting running use follow-up, scale the there any into for you're megawatt procurement how the and your of of

Kang Sun

the me up question. Let answer ramping

full X the us enable product California to that approximately in We would set of megawatt up produce at have year. a Fremont, hour the facility end

For we Colorado, was rezoning successful. -- the finished

permitting Now we emergency are working and on plan. response the air

Operator

comes Blair. Dorsheimer And from William our with question next Jed

Unknown Analyst

color between have a the could you for If SiCore? Schutter breakdown SiMaxx more little give on bit on -- You Mark revenue Jed Dorsheimer. and

Sandra Wallach

Sandra. is this Mark, So

reported separation disclosed of two. It's under those our in revenue So our filings. product we have not the

Unknown Analyst

other? the think Directionally, even, more XXXX, be that you that for than one do there'll

Sandra Wallach

already it's partners. manufacturing made here a as by is in X limited not There restriction that by on for SiCore, toll our XXXX spoke in is being be Fremont, megawatts. because capacity still will We capacity the

the So to it larger. much has potential be

Unknown Analyst

Could of participating a speak are little -- that you the the with in facility to in IRA any subsidies bit Fremont? you that of you

Sandra Wallach

Yes.

study gone which per tax have our our pursuing kilowatt anode XX% hour. we the through with and XXx manufacturing of the are tax we $XX So is credit, advisers, tax credit, and manufacturing cost

going So that financial it will of and of for be XXXX. part filing take tax of part year's can advantage planning with our this our planning We forward.

Operator

comes with Securities. Our Chris Souther question from B. Riley next

Christopher Souther

sits curious pricing kind how premium batteries out I'm commodity are the understand. well compare of be where On like does that would that to to the of as SiMaxx? far kind there helpful as kind SiCore, pricing, as of just as

Kang Sun

we to since large-scale today, a Chris, manufacturing Yes, competitive a certainly have have so facility available us, production we cost.

In terms pricing, our ASP, our long we high battery as customers, energy delivers, what do the to of very cycle. charge we the superb of well deliver density as because performance a

those So we still premium command the applications. for

Christopher Souther

SiMaxx the going more higher end And the a for seems the factor, application with as Maybe going going new maybe what you're that on time. the applications far if after? for customers it been little different focus something pretty Is a kind that like after differentiation Is additional the you're level, product? any market focus just talking after just that some as you're of end -- that we've increases that you're at looking there's it's some markets -- form some quite like with about similar SiCore. or that of

Kang Sun

Yes.

remain other but market enable in the focus participate the us factor, market to same, segments. certainly offer SiCore product a flexible end form so Our

the From new other that, XXX achieved other you cylindrical only a have we performance. opened Wâ‹…h/kg, battery X,XXX also That and for us, catalogue already segment. not electric energy specifications. product We EV see for for cycles, cell meet have means all aviation, mobility market -- available. The EV can our the

Operator

Moore from next MKM. comes Roth Chip Our with question

Alfred Moore

ask wanted one I another SiCore. to on

for potential of potential about us about or how megawatt the XXX-plus talked there? and should in future already just ramp the there demand you think think tooling capacity -- hours about maybe of we help I revenues think

Kang Sun

partners The manufacturing for been have customers those capacity, time. we developing -- those some

customers the for qualification capacity question need megawatts. available over -- manufacturing to XXX so do is product. the So The qualify is this us

year. applications revenue qualification. our commercial customer but We later We the the orders of the through and capacity believe issue for the is product in today, the commercial will phase. but already, The qualification have larger come failing some has not customers go evaluation a purchasing the to of the fraction factory

Alfred Moore

of follow-up to like for other or maybe the anything my mind? year -- in in that in in put tie guess, anything I Fremont, any mind equipment And as keep the downtime cathode progresses, need or we any keep that line to should you

Kang Sun

of is our the Yes, cathode specific has reason probably quarter. time. coding third very for specification. cathode equipment -- That's in the will this at have come piece line â€“ we only The our missing

make suppliers want can So our sure they to specification. the satisfy

Operator

next question our Global Jeff with comes And from Alliance Gramp Partners.

Jeffrey Grampp

that's year. guys the A going available commercially this XXX watt-hour question on to product for be you

be with pipeline you back Just Is timing more. terms picture, curious a to line? line little of guys 'XX, in of there? of dig in just going that a on And cathode the kind big that in the demand kind half bit that seeing of to are

Kang Sun

line of not affect cathode the will The shipment this Yes. product.

We shipped to to are this this planning year. have product customers

Jeffrey Grampp

those R&D side in -- it if for to follow-up, And or my picture relates key maybe the 'XX? goals are things life, of relate thinking in as guys about terms different on of to kind those maybe kind initiatives other factors of or main just had bucket form R&D objectives big whether of things, XXXX, objectives, cycle you density, like for any to you curious

Kang Sun

Yes.

density We energy the the very energy have will for you balance And ambitious power. improvement particularly â€˜XX. and energy and in of a goal the see power, density

working We for our are features additional on safety battery.

performance from So will some see XXXX, delivered you breakthrough Amprius.

Operator

question [Operator from Markets. Schafer comes next with Instructions] Northland Donovan Capital Our

Donovan Schafer

one. So the quick for first just really

guessing Sorry and missed just this, not I'm I to if QX. until clarify. the want with cathode coming I line on

capacity already? a run the the still It's kilowatt now essentially in actually in been just you is are at XXX incremental has some capacity equipment hour to capacity put Fremont that of of that say Or rate megawatt out from to place able right the So hours whatever incremental is it moment? correct get for zero?

Kang Sun

running, producing anode. already start line the Yes,

sourcing partners from I years. our As cathode been we for have manufacturing mentioned,

cathode line output. affect quarter this to our for meeting is next nothing So

battery will sometime producing started already anode the reached but we QX. today, full So the be in and capacity

Donovan Schafer

Is would is capacity run it say you megawatt megawatt X now? rate X.X hour, what And right hour? kind the of

Kang Sun

Not there yet.

think -- meet just this our plan. us we in December certainly revenue remember, this But we help line I line Yes. up to set

Donovan Schafer

And anything that, XXXX, in revenue or but the like kind high a guidance like at then for just of general don't give I with you sense a or level line know a coming on and expect the the 'XX increase at see maybe versus a a should and increasing, capacity least we something to like in even 'XX QX on revenue numbers? run rate based

Sandra Wallach

that's question. So great a

So revenue to XXXX. expect see we XXXX. our continue to up through over absolutely ramp

revenue we've in and and ] As X capacity of be XXXX that in to is starting capacity Fremont, online Kang drivers got to One exit coming is what think we mentioned, getting that. [ QX. to contribute the will for soon

customers have available increase today, continue that but That's, qualification as constrained, under to also their will and is we've We capacity through testing. again, product, been the a and SiCore sampling get which it exploration. not market

Donovan Schafer

you did to add? Kang, have anything

Kang Sun

to going exciting Yes. us. for have is an XXXX, product certainly year families. X be And we

of product actually us. family, the One behind have capacity production significant we

Donovan Schafer

just can question. you time items I last the about If And long facility. mentioned then -- Colorado lead for one ask

just are procurement us any a cost type do are later needed wait time just that what give kind get kind items something what just know the that put you line. that, next, much to full expenses sort of can't broad funds of things other or in terms? But the I year will for and can kind in first that of know, rough of so there to that estimate a that And down of of near-term of be full comes together like investments half this or don't involved year, or of I just or kind whatever lead sense long will the the how be out budget

Sandra Wallach

QX the payments items long placed payments were the and those, for down switch additional like work mechanical the purchase and some of and in in gear electrical plumbing and QX. procurement dehumidifier, transformers, lead the So time orders with things around

been high So on finalizing in Those in be And budget. and and share design construction are order the that's already build-out long taken a of. care the focused pole to to we're tent. permitting able the confidence

Operator

And from our question comes next H.C. Wainright. Dayal Amit with

Amit Dayal

should Sandra, the in we how volumes terms side, given improvements higher you? XXXX for gross operating XXXX? should to expect in the costs bit relative in we of be costs, some expect costs in margin also, could on a And XXXX, little then like

Sandra Wallach

question. Great

So economies we Fremont. will scale on get of

right, we'll -- without XXXX. I benefit ongoing. Colorado of so that revenue but and in cost absolutely incur work You're start to also preconstruction continue design the there's in is cost --

I be to full And in we're still going under operating think expense. to change pressure the million margins We a So significant year XXXX. are some in again, expecting not have $XX XXXX. had in

at surgically We to look we but to to continue where resources, need significantly different. expect add I wouldn't see something

Amit Dayal

revenues commercial do be? of your versus mix could what sense you military XXXX, have And then a for

Sandra Wallach

to So tell through a development directly, not us OEMs. doing selling unless we We're for hard we're because sell that's program.

AeroVironment, build for relationships that's we we continue Teledyne Alto estimate. Airbus to like with well BAE us So do What our that know to as hard systems. is and Clear as folks

we that the wrapped million development $X the backlog. up, the the Army, U.S. one largest for we just that was in had the program So that

Operator

Thank you. this time, At session. our this concludes question-and-answer

any you the his If for call to you Amprius' closing have Dr. additional at contact team Sun over to now like Investor questions, remarks. back I'd may ir@amprius.com. Relations turn

Kang Sun

Thanks again, today. everyone, us for joining

section our from learn investor presentations progress on additional exciting about Relations see We the upcoming As more to we a you you conferences, continue our company you at Colorado. about Investor our are updates update of upcoming reminder, and from the in to website. hope learn and the events making may we'll the and

employees, our to support, continued partners like operator. I'd their thank shareholders Finally, and for

Operator

today Thank Call. you joining Quarter Year XXXX and Amprius Technologies Earnings for us Full for Conference Fourth

You now may disconnect.

Amprius (AMPX) 21 Mar 242023 Q4 Earnings call transcript