Amprius Technologies, Inc. (AMPX) Stock Analysis

Amprius Technologies’ principal competitive advantage lies in its proprietary silicon anode battery technology, which delivers industry-leading energy density—up to 450 Wh/kg and 1,150 Wh/L in commercial products, with lab results exceeding 500 Wh/kg. This performance is materially higher than leading lithium-ion batteries from established rivals such as CATL, LG Chem, and Panasonic, which typically offer 260–300 Wh/kg. Amprius batteries also support rapid charging (0–80% in ~6 minutes) and operate across a wide temperature range (–30°C to 55°C), meeting demanding requirements for aviation and defense customers.

The company’s intellectual property portfolio is robust, with over 80 patents covering materials, cell design, and manufacturing processes. Amprius is the only known commercial supplier of 100% silicon anode batteries, while most competitors use graphite or silicon-graphite blends with lower performance.

Manufacturing flexibility is another edge: Amprius leverages a capital-light, contract manufacturing model, securing over 1.8 GWh of annual capacity across multiple geographies, including South Korea. This enables rapid scaling and cost control, in contrast to capital-intensive peers.

Customer validation is strong—over 360 customers, including Airbus, BAE Systems, and Nokia, have adopted Amprius cells, and the company’s batteries are often the only available solution for high-end drone and aerospace applications. However, cost per kWh remains higher than mainstream lithium-ion, and the company faces execution risk as it scales. Nonetheless, Amprius’ technology lead and customer traction provide a credible, if not yet unassailable, competitive moat.