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Posted May 12, 2022

Ray Blanco

By Ray Blanco

Batteries to Power Planes

I’ve talked plenty about batteries here on Technology Profits Daily, but today I’d like to talk about another battery company that’s set to go public…

Amprius Technologies Inc., a battery maker based in Fremont, California, makes batteries that it claims are more powerful than widely used lithium-ion cells. Amprius’ batteries are able to output more power thanks to its energy-dense silicon anode, compared to the traditional graphite material that lithium-ion batteries use.

And recently, company officials stated that Amprius was able to reach a deal with a special-purpose acquisition company (SPAC) that puts the company’s value at about $1.3 billion. In this new deal, Amprius would be combining with the transportation-focused SPAC Kensington Capital Acquisition Corp. IV.

While many of these battery startups all claim to have batteries that are more powerful, longer-lasting, more rugged, etc, Amprius is unique because it’s already been selling products commercially for about four years now.

Amprius has also patented its design for making anodes completely out of silicon. And Amprius’ batteries are no joke either… These batteries are rated strong enough to power electric aircraft, something that hasn't received much attention at all from other battery makers.

If the electrification of everything is to take place, aircraft will need to be included in the conversation too…

Amprius’ CEO Kang Sun recently said in an interview that “We believe this will be a mainstream technology.” Sun also stated that the company is planning to use the money from the deal to help scale manufacturing capabilities and meet existing and new demands.

As another part of the deal, Amprius hopes to raise about $200 million in equity from investors. If that plan comes to fruition, that money, combined with the $230 million that Kensington raised, puts Amprius in an excellent position to expand its business.

Kensington's CEO Justin Mirro has also expressed confidence in the merger due to the SPAC team’s previous experience taking battery startup QuantumScape Corp. and electric-vehicle charging company Wallbox NV public in the past.

I’ll be looking forward to seeing how this merger unfolds and, as always, bringing you any exciting updates.

To a bright future,

Ray Blanco

Ray Blanco
Chief Technology Expert, Technology Profits Daily
AskRay@StPaulResearch.com

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