Amprius Technologies (AMPX) said Tuesday it signed a manufacturing deal with an unnamed South Korean battery maker to expand production of its silicon anode cells.
Financial terms were not provided.
The company said the deal is expected to add capacity and extend Amprius' manufacturing reach outside the US. The South Korean partner will produce Amprius' SiCore cells, starting with a version designed for a high-performance drone, the company said.
Amprius said the new partnership supplements its 1.8 gigawatt-hours of existing contracted production capacity and is part of the company's strategy to scale production with a capital-light model.
Manufacturing in Korea is expected to shorten delivery times and improve supply chain resilience, Amprius said.
Shares of the company were up more than 10% in recent early trading.
Price: 2.97, Change: +0.26, Percent Change: +9.41
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