Amprius Stock Soars on $75 Million Pentagon Grant

Amprius Technologies (NYSE: AMPX) stock soared by 10% in premarket trading on Monday, following news that the company had been awarded a grant of up to $75 million from the U.S. Department of War.

The funds will be used to convert an existing electric vehicle battery line into a plant making batteries for military drones. The upgraded facility is expected to be completed in early 2028 and will have the capacity to produce 12 million cells per year.

Amprius CEO Tom Stepien called the grant 'a primary source of domestic, NDAA-compliant battery production,' highlighting the pairing of Amprius technology with South Korean manufacturing know-how as a key advantage.