Battery manufacturer Amprius Technologies aims to raise about $430 million by going public through a business combination with special purpose acquisition company Kensington Capital. The deal, announced on May 12 and expected to close in the second half of this year, will generate capital to advance Amprius’s ambitions in emerging electric mobility sectors, including aviation. Funds raised from the initial public offering will mainly be used to build battery manufacturing capability.
According to CEO Kang Sun, Amprius is pursuing possible future applications for its batteries on electric aircraft seating up to 20 passengers, and also on smaller eVTOL vehicles. It is already supplying equipment to several pseudo-satellite and uncrewed aircraft manufacturers involved in delivery, imaging, and military applications, including Aerovironment, Kraus-Hamdani, and Teledyne-FLIR.
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