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Amprius Technologies wins $75 million Department of War grant

The DoW grant is tied to expanding manufacturing capacity and is expected to reduce investor concerns ahead of the company’s Q3 earnings report.

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Amprius Technologies received a new $75 million grant from the Department of War to expand battery manufacturing for drones, a development that shifts how investors are likely to view the company ahead of its Q3 earnings report, according to MarketBeat Ratings.

The grant, issued through the DoW Industrial Base Analysis and Sustainment Program, is described as changing the narrative from higher-risk speculation to a supplier for government needs with an accelerated path toward profitability.

The company is seeking to use the funds to expand capacity, including plans to retrofit an EV battery facility in partnership with a South Korean manufacturer, the article says.

MarketBeat Ratings also notes that the grant is expected to address questions around securing contracts, achieving National Defense Authorization Act compliance, and how the company will generate revenue, while reducing concerns about factors such as dilution and manufacturing risk.

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