All right, we'll go ahead and get started. Our next presenting company is Amprius Technologies, which is traded on the New York Stock Exchange under the ticker symbol AMPX. Amprius is a leader in next-generation lithium-ion batteries with its silicon anode platform, and is focused on transforming the future of electric mobility. Here to tell you more about the company is Amprius's CEO, Dr. Kang Sun. Okay, good afternoon. I'd like to take this opportunity to introduce Amprius Technologies. As Greg mentioned, the Amprius Technologies is a pioneer and a developer and a manufacturer of a silicon anode-based, high-energy density lithium-ion battery. The company technology was introduced from Stanford University decades ago. In twenty fourteen, we finalized our structure design. Then twenty sixteen, we developed the product, the equipment to produce our structure. In twenty eighteen, we received the first commercial order from Airbus. A couple years ago, we decided to scale up this technology, and in twenty twenty-two, the company listed on New York Stock Exchange. Amprius today commands the firm leadership in energy density, power density, charging time, safety features of lithium-ion battery industry. The picture you see here is powered by Amprius battery. This is Airbus high-altitude pseudo-satellite. It is a communication tool for the industry. So Amprius today, we deliver the highest energy density. You can see here at least a few numbers here, 500 watt-hour per kilo, specific energy density. This is twice higher than the battery you have commercially available in the market. For example, if you today buy Tesla Model 3, that's probably around 250 watt-hour per kilo. Now, we also have 1,300 watt-hour per liter volumetric energy density. Today, your iPhone 15 is about 700 watt-hour per liter. So again, we are twice higher in terms of energy density. There is a very important feature of our battery: our battery can charge to high C-rate. Okay, we call power density. So our battery can discharge to 10 C at a very high energy density. Now, our battery can charge from 0% to 80%, less than 6 minutes, okay? This is required by many industry applications. You can imagine, the charging time is very important for electrical mobility. Now, we passed the US military performance spec and nail penetration test. The US military is also our customer. Yeah. There is another very important feature most people probably don't pay attention to is low-temperature performance. For battery, high-temperature performance is very easy, is not difficult. Most battery can operate at 60 degrees, 50 degrees Celsius, but the low-temperature performance is very important. I have not seen any US-made EV car can perform at minus 20 degrees Celsius. So our battery can perform at minus 30 degrees Celsius to 55 degrees Celsius. Why we use silicon? Okay, silicon has 10 times higher energy density than graphite. Most of the batteries today are graphite anode-based batteries. You know, every battery in your cell phone, in your iPhone, doesn't matter if it's made by Samsung or made by Apple, they all use graphite anode batteries. But a graphite anode battery is run-of-the-mill. Okay, today, every one of us, we can drive longer, we can talk longer, we can fly higher. So what dictates the driving distance, the flight altitude, will be the energy density. So silicon in theory has a ten times higher energy density, okay, than graphite. The silicon is safe, low cost, abundantly available, except, in addition to oxygen, the silicon is the second most available material on Earth's crust, easy to process. You look at here, the Amprius silicon anode has a 3,400 milliamp hour per gram. literally is ten times higher than graphite anode. That's why enable us to make a very high energy density batteries. Amprius has two silicon platforms. You know, we started over a decade ago. We have all kind of shapes, forms, silicon anode structures. Those two have been commercialized. And on the left, we call SiMaxx, is a silicon nanowire structure. On the right, we call SiCore, is a sphere structure. They both deliver the highest energy density in the industry. So this is a very unique structure. This structure enable us to use 100% silicon. Today, when people tell you silicon anode battery, most likely only have 5%, 6% silicon in it. Now, Amprius is the only company in the industry we deliver 100% silicon, yeah, because this is unique structure. This unique structure not only enable us to overcome the deficiency of the silicon anode, which is the swell and the volume expansion, also enable us to have super fast charge. Now, based on this SiMaxx anode chemistry, we deliver 400 watt-hour per kilo, 820 watt-hour per liter, we call high-power design. Okay, this is very important for electric vehicle, for e-bikes, for scooters, for marine vessels, for power tools. You know, all those applications require power, we deliver the solution. We also have high energy designs. I mentioned earlier, 500 watt-hour per kilo is the only one, only battery available at Amprius. Now, is twice higher than Model 3 battery. 1,300 watt-hour per liter is twice higher than your Apple iPhone battery. We also have a balanced energy and a power design. This is our best seller, because for all the electrical mobility applications, for example, aircraft, electrical aircrafts, they need the power to taking off and the landing. At the same time, they need energy to cruising. So we offer all those. Now, we also have high energy design here, even at a different level, at a 400 watt-hour per kilo, 1,100 watt-hour per liter. We make all kind of shapes, forms, batteries for various applications, from military to industrial to commercial. So here I just list a few samples, different formats of our battery. This is another battery platform we introduced in January 2024. You know, just eight months earlier, we just introduced this battery. We received a very successful response from the market. So this battery will also deliver the power design, the energy design, and balance the energy and the power design. In addition, this battery enable us to make not only the pouch battery, also cylindrical battery. We make the highest energy density cylindrical battery in the industry. Our 21700 is a 6 amp hour. Give you a reference, most people is a 5.5. Our 18650 is a 4 amp hour. Most people make a 3.6. So we have at least 25% more energy for the same dimension. That's why very important. For same energy, we can give much less weight, also less real estate. For the same real estate, we offer about a 50% to 70% more energy. So if you, we put our SiMaxx product in this application map. Okay, this is the map for from the cell phones all the way to forklifts, electric vehicles, electric aircraft. We deliver the complete solution here. You know, we have 14 SKUs. We have 14 products off the shelf. Customer come here, you can pick up whatever you want, the energy and the power we can deliver to you. Of course, if you have some very unique application, we can customize for you. So if you compare our battery to conventional graphite anode-based lithium-ion battery, we outperform them in every category, you know, from an energy density, power density, charging time, rate capability. We're basically much better than the graphite-based battery. By the way, now, most of the batteries contain a certain level of the silicon. I think next year you will see all the batteries will have silicon in their, in their anode system. It may not be 100% like Amprius. May have a 3%, 5%, 6%. Tesla introduced the first silicon anode battery about five years ago, has a 3% silicon in it. So I think next year you will see silicon becomes the mainstream. Silicon anode battery becomes the mainstream of the battery in the industry. Now, this is a very important chart for us. On the left-hand side, you will see, you know, we have 500 watt-hour per kilo, compared to graphite, 260. We have a 1,300 watt-hour per liter, compared to industrial, the best battery made by Apple, 700. On the right-hand side, this is actually, we put our battery in the real device to test out. You look at the first one is the Airbus flying devices. They fly 24 minutes. Use our battery, becomes 42. Now, we give a consumer electronics OEM a battery, putting their video capable video-able smartwatch. Okay, they running about three hours, six minutes, use their current battery. Use our battery, is almost six hours. Yeah. Now, we supply this called conformal vest wearables to US military. You know, US military current battery system, as it currently is two years ago, now they use ours, about eight hours, 12 minutes. Use ours, 17 hours, 48 minutes. Okay, I was told by army, they used to have 71 pounds. Okay, these wearables carried by our soldier, today is only 40 pounds. Yeah, uses Amprius battery. Now, if we use Tesla Model 3 is a 310-mile travel distance. With our battery, is 550-mile travel distance. That's why our battery is enabler to many applications. Some application, without our battery, they even cannot have a business. For example, Airbus super satellite business. Without our battery, they wouldn't have a business. So here, currently, Amprius is focused on the aviation in particular. We focus on two markets we have a commercial product for. One is aviation, another one is micro mobility. Micro mobility, e-bikes, scooters, all the kind of things, you know, we supply - we support them. So here we have three types aviation devices. We have a commercial product for. Customer place order, we can deliver the battery. As I mentioned earlier. Our battery can be used for all the applications. Yeah, yeah, and the feature we deliver is the safety, energy, power, temperature, charging time, or of course, the cost. Now, then, for the applications, we have interaction with aviation, electrical vehicles, marine power, micro-mobility, consumer electronics, military application, industrial application, like a bulldozer, okay, forklift, those kind of applications. Yeah, our battery certainly offer the working time they need. For example, like a forklift and a bulldozer, they need eight hours continuously operation, okay? Charging time is not an issue for them because once the worker go home, they plug in and they charge it overnight. But during the time, daytime, the eight hour, you have to work. Okay, you need to have enough energy to support their working hour. So here we list a few names we can share with you. We have many names. The customer don't want to disclose their technology. So here, Airbus is our first customer, still our very important customer. Airbus, our relationship with Airbus led to many breakthroughs in technology. So, couple years ago, we won the Airbus Most Innovative Supplier Award, among the thousands Airbus suppliers. Now, in addition to Airbus, we have Teledyne FLIR, AeroVironment. Airbus also our strategic investor. Okay, they put dollars in our company to build factories. We also have BAE Systems, United States military. Now, United States Advanced Battery Consortium is a very, very important organization. It's sponsored by US automobile industry. Now, we are active member of that. We won, I don't know, Sandra probably remember, three or four awards, you know, two awards now. Yeah. So we are—we have very close relationship with OEM, EV OEMs. The reason we have not delivered the commercial battery to EV industry, because of the manufacturing capacity. Now, for EV battery factory, you at least need to support two hundred and fifty thousand EV cars. Yeah, that's the minimal volume for them to break even. So that's the reason we focus on the smaller volume application instead of larger volume application at this moment. Now, the beauty of Amprius technology, you know, technology is very advanced, very unique. It's a breakthrough technology, but the manufacturing use the off-the-shelf equipment. Okay, we don't have to reinvent the equipment to accommodate our technology. In our manufacturing, we have two products. SiMaxx, you see this, this tool is a solar industry use. Now, this actually is supplied by the German solar equipment manufacturer. They give to us, we can make a SiMaxx. For SiCore, even easier. Okay, everyone in the, in battery industry today can manufacture Amprius battery. Now, today, since our battery can be manufactured by anybody, now, why we not take advantage of excess capacity in the industry? Today, you know, the lithium-ion battery industry has three times more capacity than the demand. So there are plenty of capacity available. So now many available in Asia, recently becomes available in Europe. I believe in couple months, maybe year, it will be available in United States as well. So since we have a unique technology, but we can use other people's equipment, so we have this contract manufacturing model. Okay, we use other people's equipment, okay, to manufacture our battery. But we have our own manufacturing facility too. You know, we have our manufacturing facility in Colorado or in Fremont, California, but it's a small scale. You know, we are planning to have another one in Colorado, but at this time, we have three manufacturing partners in Asia. Now, pretty soon, we will have one in Europe. So, then we look at Amprius. What is Amprius? First, we have innovative silicon anode and cell chemistry. This is very unique. This made a business. Okay, this is probably the most important thing, is we have this very unique silicon anode and cell chemistry. Then we uniquely positioned for electrical mobility. As I mentioned, from the power to energy, to charging time, to temperature, to safety, to cost, we are uniquely positioned for it. Yeah. So then we have a strong technology and product roadmap. We are not stop here. You know, we have very ambitious goal. Okay, our roadmap is lead to today industry even cannot imagine, okay, what kind of power we can deliver. Now, we have highest energy density, power density commercial batteries today. Okay, many companies, 2027, 2028 goal, we already achieved now. Yeah. So we have a safety fast-charging capability, wide temperature range, I mentioned. The production, we have production since 2018. But today, we don't have to spend a lot of time to build a factory. We have over 500 megawatt manufacturing capacity available to Amprius. Yeah, you place order, we make the battery tomorrow. Yeah. So then we validate, our technology is validated by repeat customer orders at the leading industrial partners. As I said, doesn't matter how great our technology is. The ultimate validation is customer orders. Without a customer order, you don't have technology. Yeah. So we certainly validated by the customer. Now, I mentioned that we have a megawatt production capacity in operation today. Yeah, we're actually close to gigawatt now. Yeah, but next year, we certainly have over gigawatt manufacturing capacity available to us. All we need is find more customer, yeah, build our, stronger customer portfolio, and sell more batteries. Thank you. Any questions? Could you maybe spend a little bit more time talking about the customer qualification process? You've obviously got a lot of blue-chip customers that you do work with that have started to grow their order sizes over time as well. But if some new customer were to start working with Amprius, it's obviously not in every single case, an off-the-shelf application. So going through the customer qualification process, what that timing looks like, and what investment needs to be made on both ends for that to grow over time. Yeah. First, we have fourteen SKUs. That means, you know, we have fourteen product readily available. Customer can look at our catalog. You know, catalog is published on the website. Look at our catalog and place order. But there are certain customer, they have very unique properties. Either the size or the shapes of the battery or the cell chemistry, they ask us to make some an adjustment. Now, that we will be willing to do that. Most time people pay NRE for us to develop that kind of capability. Yeah. Last two quarters, the company shipped to over one hundred and thirty new customers, just first half of this year. Yeah. So all those customer becomes the real customer, the repeated, the PO customer, normally is a nine to eighteen months development time. Yeah. We have a customer come in just three months, we qualified. But most customer, on average, it takes about 12 months from we give them the first prototype to them certified our battery. You know, battery industry is not just you test it, this is good. You have to certify for your specific application. Now, electric vehicle certification is very different from electric aircraft's certification. Yeah, military certification is very difficult from the iPhone battery certification. So we have to go through the certification with our customer. Now, we have in-house knowledge to help customer to do that. We actually provide a reference design. That means we are the cell company, we don't make packs, but we guide our customer how the packs should be made. What are your revenues? Our revenue is limited by capacity. Last year, we sold about $10 million. Ten million? 10 million. Yeah, this year. Yeah, remember, we just get out from the startup mode. Yeah, we have a little facility in Fremont, but this year, if we can absorb all the manufacturing capacity available to us today, I mentioned, yeah, almost close to gigawatt, that will be $500 million revenue. Yeah. So we don't have technology issue, we don't have product issue, we don't have manufacturing issue, but our sales team has to work 24 hours a day, yeah, to get those batteries sold. Kang, if you could, I know you talked a little bit about the micromobility space. Can you just talk a little bit about the opportunity there, specifically? I know, you know, aviation has been a primary focus, but some of the other areas as well for Amprius. Now, we are engaged with many segments, but our focus is aviation, now with micromobility. Micromobility, this morning, we just have a news release if you can see it. Okay, this is a two gigawatt opportunity for Amprius. Yeah. So the micromobility actually is a growing market, is growing very, very fast. In Europe, pretty much is e-bike business. Okay, in Asia, most of those are scooters. You go to Philippines, you go to Vietnam, you go to China, the most dangerous thing is you hit by scooters. It's all over the place. Yeah. So we take advantage of this, but this industry is evolving. Okay? Instead of charging, now they swap the batteries. They want high energy density batteries, they swap, so we take this opportunity get into this market space. Then one other question. I know SiCore, we talked about it. Earlier in the year, that product was first announced. You're slowly moving those customers through the validation process. And just talk about the opportunity now that you have that production capacity through those manufacturing partners. Absolutely. Our SiMaxx manufacturing in Fremont already sold out. Not only sold out this year, we sold out next year's order. Is in tremendous high demand. One customer could take all the capacity we have. Of course, our capacity in Fremont, California, is not very large. Yeah. For SiCore, we literally have unlimited manufacturing capacity available to us. Yeah, so, we see is a very, is a huge opportunity for Amprius. Now, our customer actually invent they have a very creative thought about our product. A lot of those product application, not because we go to customer, tell them how to use it. They actually come to us, say, "When you have the performance like that, I probably can do this, I probably can do that." Yeah. Now, just lately, I was in Taiwan. Okay, there is a robotic company. Okay, this is a very sophisticated robot, okay? More like a human being. They demoed it to me because it is for defense purpose, you can imagine. They look at our battery, they say, "Gee, you know, I only need two new batteries, okay, in my module. Instead, today, I have this cylindrical cell. It's several kilos heavy," you know? So, there are a lot because of the performance, okay, because of the high energy density, high power density, fast charging time, safety features, low temperature performance, enable many applications, otherwise people cannot do it. I think we're just about out of time there. I really appreciate everyone's- What's the ratio as far as size reduction, approximately? The ratio downward as far as for the same capacity. The same energy, how much smaller is the cell? Oh, for the how smaller? For most of the application- Right. Yeah, we can reduce to 40%-50% of the size for most of the application. Yeah, for example, US Army, from 71 pounds to 40 pounds. Okay. Yeah. They could keep the same weight, yeah, but have more energy. Okay, they can have... Depends on the application. Yeah, it's very significant. It's very significant. When we talk to a marine power guy, okay, there is a city. They want to have this tour boat, okay. They don't want to have pollution. They want to use this battery. One of the things they see, you know, we have very light battery for them. And today, their battery is too heavy, you know, they consider safety issues. You know, with our battery, they don't have safety issues. So less power per. What's the power issues with so certain fires, the fire issues? Oh, you mean safety issue? The flammability. Yeah, yeah, flammability. Amprius actually have a, you know, I just mentioned it. We passed the U.S. military nail penetration test. You can see, if we can pass U.S. military test, we have a very robust cell safety feature built in. Of course, for different application, have different safety requirement.