DENVER  – Governor Polis and the Global Business Development Division of the Colorado Office of Economic Development and International Trade (OEDIT) formally announced today that Amprius Technologies, Inc. (NYSE:AMPX), a leader in lithium-ion batteries with its Silicon Anode Platform, has signed a letter of intent for a 775,000 square foot facility in Brighton, Colorado. Amprius plans to establish a gigawatt scale factory to support lithium-ion battery production for the U.S. electric mobility market.

“We need more batteries to power the future, and now we will be manufacturing more of them right here in Colorado. We are excited to welcome Amprius to Colorado, bringing over 300 new good-paying jobs, and joining Colorado’s innovative and collaborative business community,” said Gov. Polis.

“Colorado is leading the way in technology development and innovation. I’m glad to see that leadership rewarded as the Bipartisan Infrastructure Law starts vesting in Adams County. Attracting Amprius and other cutting-edge businesses to our community will stoke our local economy and create hundreds of good jobs. I look forward to their success and will continue using my position on the House Science, Space, and Technology Committee to build on this investment as we power the economy of the future right here in Colorado,” said Rep. Yadira Caraveo.

Amprius is one of the first companies to receive funding from President Biden’s Bipartisan Infrastructure Law to expand domestic manufacturing of electric vehicle and electrical grid batteries, and makes high-energy lithium-ion batteries. Silicon can extend the range of batteries and reduce charging times, among other benefits, and the company has developed a patented silicon anode battery platform.

Amprius plans to invest $190 million, including the $50 million cost sharing grant from the U.S. Department of Energy’s Office of Manufacturing and Energy Supply Chains, to provide a potential capacity of up to 5 gigawatt hours (GWh).

“The selection of Colorado for our gigawatt factory marks an important milestone for Amprius,” said Dr. Kang Sun, Chief Executive Officer of Amprius Technologies. “We worked closely with the state of Colorado, the Colorado Economic Development Commission, Adams County, and the City of Brighton to align on terms that are mutually beneficial, which includes a comprehensive incentive proposal. Increasing production to meet the substantial market demand for our breakthrough silicon anode lithium-ion technology remains a priority, and we are confident this factory will allow us to scale and effectively serve the electric mobility market.”

Amprius also selected the Brighton, Colorado location because of its potential to streamline time-to-market and support effective customer fulfillment. The site’s size, its proximity to essential materials, the transportation structure and the electric power and structural layout are expected to help reduce build-out costs as well as logistical and operational costs. Additional acreage at the site also has the potential to enable future expansions for a total potential manufacturing capacity of 10 GWh.

The first phase of the expansion is expected to create 332 net new jobs at an average annual wage of $68,516, which is 104 percent of the average annual wage in Adams County. These will include management, engineering, business support personnel, technicians, operators, and maintenance positions.

“Colorado’s cleantech industry has an economic impact of $4.6 billion per year and employs over 62,000 Colorado workers. By choosing Colorado for expansion, Amprius will add to this increasingly important sector of employment and become a key player in Colorado’s commitment to adopt clean energy technologies,” said Eve Lieberman, Executive Director of OEDIT.

The Colorado Economic Development Commission approved up to $5,491,784 in performance-based Job Growth Incentive Tax Credits for Amprius, over an 8-year period. These incentives are contingent upon the company, referred to as Project Maverick throughout the OEDIT review process, meeting net new job creation and salary requirements.

In addition, the City of Brighton approved incentives with a total estimated value of $929,050, including a five-year property tax rebate of 100% and a 50% rebate on the city’s use tax collected on construction materials.

“Brighton City Council and the City of Brighton leadership team are excited to welcome Amprius Technologies Inc. to our community," said Robin Martinez, Brighton Economic Development Corporation President & CEO. "We have a highly-skilled workforce and a collaborative regional approach to attracting and supporting new and existing companies in Brighton. In just three months, our office collaborated with our regional support system to include OEDIT, Adams County Economic Development, Adams County Workforce Development, Aims Community College, AC-REP, Metro Denver EDC, United Power, Xcel Energy and various other local partners to implement a customized and time-sensitive support plan to ensure Amprius Technology Inc. has what they need to meet their expansion and timeline goals, now and in the years to come.”

The Adams County Board of County Commissioners will also consider an economic development incentive agreement at a March 14 public meeting. Board Chair Steve O’Dorisio noted, “We are happy to welcome Amprius to Adams County and look forward to a continued partnership as they grow and develop their innovative battery technology right here in Brighton. The jobs they create will not only benefit our current local residents, but also help to expand future career paths in the renewable energy sector.”

“We’re thrilled to welcome Amprius Technologies to the Metro Denver region,” said president of the Metro Denver Economic Development Corporation, Raymond H. Gonzales. “With one of the leading clean technology industries in the nation and an electric vehicle market that’s constantly growing, Colorado needs companies like Amprius Technologies to ensure we’re ready for all our future developments and endeavors. Their expansion in Metro Denver will give us the tools we need to continue our technological growth and success.”

Amprius, headquartered in California, currently has 60 employees, none of whom are in Colorado. In addition to Brighton, the company considered Texas and Georgia for expansion.