Amprius Technologies, Inc. (NYSE:AMPX) Q4 2022 Earnings Call Transcript

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Kang Sun: Yes, okay. And so the timing issue, and then timing question, then Sandra can you elaborate more on the financing? So, we are currently working with the regulatory authorities. I think this is the most time-consuming part of this project. And currently the source of the production line and we have never land up. I believe our production line can be delivered on time. Construction discussion went well. We are planning to have this construction start late summer and early fall. It took us about 18 months to get building retrofit suite then have our production line thought.

Unidentified Analyst: Got it. And then any update on the capital expectations through the end of next year. Given €“ I think we’ve probably got a pretty good idea of your expected costs at this point given the site selection and all that?

Sandra Wallach: Yes, so that’s a great question. So our production and equipment capital needs are still in the $120 million to 150 million per gigawatt. That’s the total cost without government grant offsets. And we’re estimating possibly another $100 million on construction NTIs, so, somewhere in total between $220 million and $250 million.

Unidentified Analyst: Got it. Okay, that’s really helpful. And then on the customer side, it seems like you guys are continuing to add new customers testing, maybe you could just talk a little bit more about some of the demand and segments aside from USABC, are there any other non-aerospace defense type customers in there, and then maybe within aerospace, curious if you could talk about either dies or use cases within that kind of broader sector to give us some kind of breakdown around the types of demand you’re seeing out there?

Kang Sun: So we are working with €“ of course, most of our customer aviation battery customers. At the same time, we have been last few years engaging with non-aviation battery customers primarily in the electrical vehicle battery space, because we don’t have a larger format, production line and it’s time. So we only can see the evaluation stage at this phase I would call technical exchange phase. As the USABC or the grant, this €“ twice asked us to proceed the low cost high energy density electrical vehicle, we also have interaction with other OEM, EV OEMs but at this time still at a technical exchange stage until we have a larger format EV format, I mean, 100 amp-hour, 120 amp-hour cells, we will stay at a technically extended stage.

Unidentified Analyst: Yes, that makes sense. So maybe just within aerospace any other €“ any ways you can kind of segment out the types of customers or the use cases would be helpful there?

Kang Sun: Right. For us today, you see we have industrial customers, we have customers in Defense segment. Those batteries are adequate for other applications. We just need to have the capacity and the lighter format of the battery in a right size of the battery. For those applications, I think this is our effort 18 to 24 months, we will get there. Our €“ as we mentioned, repeatedly mentioning in our challenge is the ease of capacity. Once we get capacity issue resolved, we will have much better fluctuation in revenue generation and serve the customers.

Unidentified Analyst: Makes sense. I will hop into queue. Thanks, guys.

Operator: Thank you. We have reached the end of the question-and-answer session I’d like to turn the floor back over to Dr. Sun for any further or closing comments.

Kang Sun: Thanks again everyone for joining us today. I’d like to thank our employees, partners and shareholders for their continued support. As a reminder, you may learn more about our company updates and the call we will be presenting in the Investor Relations section of our website. We look forward to updating you on Amprius progress on our next call. Operator?

Operator: Thank you. That does conclude today’s teleconference and webcast. You may disconnect your lines at this time and have a wonderful day. We thank you for your participation today.

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