Innovative Aerospace Summit: Amprius High-Density Batteries Powering UAVs

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Innovative Aerospace Summit: Amprius High-Density Batteries Powering UAVs

USA | Aerospace & Defense Electronics EquityJuneResearch11, 2026

Innovative Aerospace Summit: Amprius High-

Density Batteries Powering UAVs

We hosted Tom Stepien, CEO & Ricardo Rodriguez, CFO, of Amprius

Technologies at our 4th Annual Jefferies Innovative Aerospace Summit. Key

takes: 1) Silicon-anode cells drive ~2x energy density; 2) UAVs are ~75% of

revs and support $130MM+ 2026 guide; 3) SiCore lifts GM path as SiMaxx

exits; 4) eVTOL is 2028+ with $20,000 packs; 5) A&D read-across skews to

UAS endurance, surveillance and speed as defense spending rises globally near

term.

Amprius Background - A Pioneer In The Silicon Battery Market. Amprius is an advanced lithium-

ion battery company focused on high-energy and high-power cells enabled by silicon anodes.

Silicon anodes can deliver ~2x the energy density of graphite anodes, allowing drones, eVTOLs

and other vehicles to travel materially farther. The portfolio includes ~25 battery types across high-

power, high-energy and balanced cells serving drones, satellites, light electric vehicles, robotics and

eVTOLs. Amprius uses a pilot line in Fremont to win and iterate designs, then shifts larger-volume

production to contract manufacturers in China, South Korea and the U.S.

UAV Demand Supports Near-Term Growth. UAVs represent ~75% of revenue today, with the

company generating just over $73MM of revenue last year and guiding to at least $130MM in

2026. The UAV opportunity alone, particularly in Europe, the Nordics and Ukraine, was described as

sufficient to support the 2026 revenue target. Demand is being driven by defense budgets, higher

European spending, surveillance needs and drone proliferation. Purchase orders can come relatively