Amprius Technologies Inc (AMPX) 2023 Q4 法說會逐字稿

Good afternoon. Welcome to Amprius Technologies' fourth-quarter and full-year 2023 earnings conference call. Joining us for today's presentation are the company's CEO, Dr. Kang Sun; and CFO, Sandra Wallach. At this time, all participants are in listen-only mode. Following managements remarks, we will open the call for questions.

午安.歡迎參加 Amprius Technologies 的第四季和 2023 年全年財報電話會議。參加今天的演講的有該公司執行長孫康博士；和財務長桑德拉·瓦拉赫。此時，所有參與者都處於只聽模式。在管理層發表講話後，我們將開始提問。

Please note that this presentation contains forward-looking statements, including, but not limited to, statements regarding future product commercialization, new customer adoption, the timing and ability of Amprius to build its large-scale manufacturing facility, expand its manufacturing capacity, scale its business, and achieve a sustainable cost structure, and Amprius' financial and business performance.

請注意，本簡報包含前瞻性陳述，包括但不限於有關未來產品商業化、新客戶採用、Amprius 建設其大型製造設施、擴大其製造能力、擴大其規模的時間和能力的陳述。實現可持續的成本結構以及Amprius 的財務和業務績效。

These statements involve known and unknown risks, uncertainties, and other important factors that may cause Amprius' results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. For a more complete discussion of these risks and uncertainties, please refer to Amprius' filings with the Securities and Exchange Commission.

這些陳述涉及已知和未知的風險、不確定性和其他重要因素，可能導致 Amprius 的結果、績效或成就與此類前瞻性陳述中明示或暗示的任何未來結果、績效或成就有重大差異。有關這些風險和不確定性的更完整討論，請參閱安普瑞斯向美國證券交易委員會提交的文件。

Finally, I would like to remind everyone that this conference call is being webcast, and a recording will be made available for replay on the company's Investor Relations website at ir.amprius.com. In addition to the webcast, the company has posted a shareholder letter that accompanies these results, which can also be found on the Investor Relations website.

最後，我想提醒大家，本次電話會議正在網路直播，錄音將在公司投資者關係網站 ir.amprius.com 上重播。除了網路廣播之外，該公司還發布了伴隨這些結果的股東信函，該信函也可以在投資者關係網站上找到。

I will now turn the call over to Amprius Technologies CEO, Dr. Kang Sun, for his comments. Sir, please proceed.

我現在將電話轉給 Amprius Technologies 執行長孫康博士，徵求他的意見。先生，請繼續。

Welcome, everyone, and thank you for joining us this afternoon. On today's call, I will report our progress and accomplishments for the fourth quarter while also highlighting some of the milestones we achieved in 2023. Our CFO, Sandra Wallach will then discuss our financial results for the period. After that, I will share some closing remarks before opening the call for questions.

歡迎大家，感謝你們今天下午加入我們。在今天的電話會議上，我將報告我們第四季度的進展和成就，同時強調我們在 2023 年實現的一些里程碑。之後，我將在開始提問之前分享一些結束語。

The fourth quarter was a strong end of a great year for Amprius. Before I give a recap of the year, I would like to briefly introduce Amprius to those who may be new to the company. Amprius develops, manufacturers and markets, high energy density and high-power density batteries with applications across all segments of electrical mobility, including the aviation and the EV industries.

第四季是安普瑞斯 (Amprius) 偉大一年的有力結束。在回顧這一年之前，我想先向那些剛加入公司的人簡單介紹安普瑞斯。 Amprius 開發、製造和銷售高能量密度和高功率密度電池，其應用遍及電動車的所有領域，包括航空和電動車產業。

As a pioneer of silicon anode technologies, Amprius has spent the last decade developing various silicon anode structures and cell chemistries, as well as manufacturing processes. The company has a strong patent portfolio of over 80 issued patents and pending applications. When it comes to the battery performance, Amprius silicon anode batteries command a firm leading position in the industry.

作為矽陽極技術的先驅，Amprius 在過去十年中致力於開發各種矽陽極結構和電池化學物質以及製造過程。該公司擁有強大的專利組合，其中包括 80 多項已發布的專利和正在申請的專利。在電池性能方面，安普瑞斯矽負極電池在業界處於穩固的領先地位。

Amprius batteries deliver 450 watt-hour per kilo specific energy density and the 1,150 watt-hour per liter volumetric density, and have been available commercially since early 2022. In 2023, we developed a 500 watt-hour per kilo, 1,300 watt-hour per liter battery platform, which will be ready for commercial shipments soon. Also, Amprius' silicone anode structures and cell chemistries enable us to 10C power capability and balance the high energy and high-power battery designs.

Amprius 電池可提供每公斤450 瓦時的比能量密度和每公升1,150 瓦時的體積密度，並已於2022 年初投入商業使用。電池。此外，Amprius 的矽樹脂陽極結構和電池化學使我們能夠實現 10C 功率能力並平衡高能量和高功率電池設計。

Our silicone anode batteries have the extreme fast charging rates of 0% to 80% state of charge in approximately 6 minutes and operate in a wide temperature range of minus 30 degree Celsius up to 55 degree Celsius, and have safety design features that enable us to pass the United States' military benchmark nail penetration tests. Each of these performance parameters is critically important to electric mobility applications. Not only do our battery enable certain aircrafts and vehicles function, but in doing so, they also enable our customers to achieve their economic targets as well.

我們的矽陽極電池具有極快的充電速度，可在約6 分鐘內將電量從0% 充至80%，並且可在-30 攝氏度至55 攝氏度的寬溫度範圍內運行，並具有安全設計功能，使我們能夠通過美國軍事基準釘刺測試。這些性能參數中的每一個對於電動車應用都至關重要。我們的電池不僅可以實現某些飛機和車輛的功能，還可以幫助我們的客戶實現其經濟目標。

Amprius has been in commercial battery production since 2018. So the company has many years of experience manufacturing high energy density and high-power density lithium-ion batteries. It's our belief that there are no other commercial batteries on the market that can perform at these levels today. Between our two battery families, SiMaxx and SiCore, Amprius' high-performance batteries have attracted significant market attention and customer demand. Company's priority today is to build additional manufacturing capacity as quickly as we can to meet the significant customer demand for our products.

Amprius自2018年開始商業化生產電池。我們相信，目前市場上沒有其他商用電池可以達到這些水準。在我們的兩個電池系列 SiMaxx 和 SiCore 中，Amprius 的高性能電池吸引了巨大的市場關注和客戶需求。該公司目前的首要任務是盡快建立額外的製造能力，以滿足客戶對我們產品的巨大需求。

2023 was a transformational year for Amprius. We came into the year with three major goals. First, we set out to further advance our silicon anode battery technology to deliver breakthrough performance. Second, we sought new customer wins as we continue to grow our product shipment volume. And third, we strove to expand our production capacity to meet the increasing demand of our batteries. We made a significant progress across each of these areas and are confident that our effort has positioned Amprius to continue executing on its growth strategy in 2024 and beyond.

2023 年對 Amprius 來說是轉型的一年。我們帶著三個主要目標進入了這一年。首先，我們著手進一步推進我們的矽陽極電池技術，以實現突破性的性能。其次，隨著我們持續增加產品出貨量，我們尋求贏得新客戶。第三，我們努力擴大產能，以滿足日益增長的電池需求。我們在每個領域都取得了重大進展，並相信我們的努力使 Amprius 能夠在 2024 年及以後繼續執行其成長策略。

Specifically, we had several noteworthy accomplishments in 2023. Last year turned out to be a banner year for our technology development. Back in March, we unveiled our 500 watt-hour per kilo battery platform, a first for our industry. To the best of our knowledge, once our cell begin shipping to customers this year, Amprius will be the first company to achieve 500 watt-hour per kilo energy density in a commercially available battery.

具體來說，我們在 2023 年取得了幾項值得注意的成就。早在 3 月份，我們就推出了每公斤 500 瓦時的電池平台，這在業界是第一次。據我們所知，一旦我們的電池今年開始向客戶發貨，Amprius 將成為第一家在商用電池中實現每公斤 500 瓦時能量密度的公司。

Then in August, we also unveiled our breakthrough battery cell chemistry and design that enable 400 watt-hour per kilo energy density with a simultaneous 10C power capability. The energy and power delivered by this cell, make it an ideal solution for electric mobility applications such as aviation and EVs.

然後在 8 月份，我們還推出了突破性的電池化學和設計，可實現每公斤 400 瓦時的能量密度，同時具有 10C 的功率能力。該電池提供的能量和電力使其成為航空和電動車等電動車應用的理想解決方案。

For eVTOL, this battery is designed to provide the necessary proportion power and energy for taking off, cruising and landing, while also extending flight range by as much as 50% as modeled, based on commercially available alternatives. We complete the customer evaluations at the beginning, shipping batteries to select the customers in 2023 with expanded commercialization expected in 2024.

對於 eVTOL，該電池旨在為起飛、巡航和著陸提供必要的比例功率和能量，同時根據商用替代方案，將飛行航程延長多達 50%。我們一開始就完成了客戶評估，在 2023 年將電池運送給選定的客戶，預計在 2024 年擴大商業化。

We hit the ground running in 2024 as well. In January, we launched our all-new cycle product family to go along with our existing Silicon nanowire platform, called SiMaxx. While SiMaxx includes our highest performance batteries, the cycle platform services applications that demand high energy density and longer cycle life, offering up to 400 watt-hour per kilo and as many as 1,200 cycles and a full app of this charge.

我們也於 2024 年開始運作。一月份，我們推出了全新的循環產品系列，以配合我們現有的矽奈米線平台，稱為 SiMaxx。雖然SiMaxx 包含我們最高性能的電池，但該循環平台可服務於需要高能量密度和更長循環壽命的應用，提供每公斤高達400 瓦時的功率和多達1,200 次循環以及此充電的完整應用程序。

Developed in close collaboration with Berzelius, a formerly affiliated company, we are able to achieve greater manufacturing capacity in the short-term by working with the toll manufacturing partners, which we expect will allow us to serve more customers and bring in additional revenue while we extend our US manufacturing capacity. We believe that toll manufacturing capacities can create a bridge until our facility in Colorado comes online.

透過與前附屬公司 Berzelius 密切合作開發，我們能夠透過與委託製造合作夥伴合作在短期內實現更大的製造能力，我們預計這將使我們能夠服務更多的客戶並帶來額外的收入，同時我們擴大我們美國的製造能力。我們相信，在我們位於科羅拉多州的工廠上線之前，委託製造能力可以架起一座橋樑。

The SiCore product also have additional form factor flexibility, capable for both pouch and cylindrical cells form factors. This allows them to be used in more applications and to be available at scale today. These two product platforms are the accumulation of years of work in silicon anode space and are just the beginning of our vision here at Amprius to transform electrical mobility.

SiCore 產品還具有額外的外形靈活性，可用於軟包和圓柱形電池外形。這使得它們能夠用於更多應用，並在今天大規模可用。這兩個產品平台是我們在矽陽極領域多年工作的積累，只是我們在 Amprius 改變電動車願景的開始。

Overall, when it comes to battery performance, we continued setting new bars for ourselves in 2023. We are confident that Amprius battery can reach unmatched level of performance, and we look forward to trying to expand our performance lead in 2024. We believe that the highest endorsement of our technology are customer orders. Our industry continues to notice the battery performance success that we are having. And as a result, our demand far outstrips our supply.

總體而言，在電池性能方面，我們在 2023 年繼續為自己設定新的標準。的訂單是對我們技術的最高認可。我們的行業繼續注意到我們所取得的電池性能成功。結果，我們的需求遠遠超過了供應。

Throughout the year, we had several customer wins. We furthered our partnership with AeroVironment. In Q1, started a new technical engagement with a leading high performance automotive OEM in Q2, and reached a long-term battery supply agreement with Tenergy in Q3. Also, in the fourth quarter, we made a significant progress on building out our book of customers, shipping to 41 total customers in the quarter, up from 38 in Q3.

全年，我們贏得了多個客戶。我們進一步深化了與 AeroVironment 的合作關係。第一季度，第二季度與一家領先的高性能汽車整車廠開始新技術合作，第三季與天能能源達成長期電池供應協議。此外，在第四季度，我們在建立客戶名錄方面取得了重大進展，本季向 41 名客戶發貨，而第三季度為 38 名。

While many of them were repeating customers like AALTO/Airbus, Teledyne Clear, and the US Army, and BAE Systems, 16 of them were new customers who came to us from across the electrical mobility sector. For example, we announced the volume purchase order from eVTOL manufacturer in October, and the complete high-volume shipments of SiMaxx cells to the Korean Aerospace Research Institute in December.

雖然其中許多是 AALTO/Airbus、Teledyne Clear、美國陸軍和 BAE Systems 等老客戶，但其中 16 名是來自電動汽車行業的新客戶。例如，我們在 10 月宣布了 eVTOL 製造商的批量採購訂單，並於 12 月向韓國航空航天研究所完成了 SiMaxx 電池的大量發貨。

We also successfully secured the SiMaxx purchase order from three premier electric aviation manufacturers. For customer 450 watt-hour per kilo cell for battery pack development and qualification. These customer cells were developed in collaboration with Amprius' strategic partners to address their unique HAPS qualification requirements and enable these customers to operate in highly challenging environments with greater energy density and the longer cycle life than the previous 400 watt-hour per kilo platform.

我們還成功獲得了三個頂級電動航空製造商的 SiMaxx 採購訂單。為客戶提供每公斤電池 450 瓦時的電池組開發和鑑定。這些客戶電池是與Amprius 的戰略合作夥伴合作開發的，旨在滿足其獨特的HAPS 資格要求，並使這些客戶能夠在極具挑戰性的環境中運行，與之前每公斤400 瓦時的平台相比，具有更高的能量密度和更長的循環壽命。

The new cell only known commercially available batteries of their kind that can provide enough power and endurance for HAPS overnight stratospheric flight applications. These orders help strengthen Amprius' position as a premier global battery solution for eVTOL and HAPS application.

這種新型電池是目前已知的同類商用電池中唯一能夠為 HAPS 夜間平流層飛行應用提供足夠電力和耐用性的電池。這些訂單有助於鞏固 Amprius 作為 eVTOL 和 HAPS 應用全球首要電池解決方案的地位。

Also, we think our wearables market. We completed our first volume shipments of the Safe Cell for the US Army in December. This shipment is an important milestone for us because it completes our scale-up manufacturing initiative under the US Army Fund Manufacturing Technology program, which allows us to now have a large deployments of our cells for the mission-critical products.

此外，我們也考慮了我們的穿戴式裝置市場。 12 月，我們為美國陸軍完成了 Safe Cell 的首次批量發貨。這次發貨對我們來說是一個重要的里程碑，因為它完成了美國陸軍基金製造技術計劃下的擴大製造計劃，這使我們現在能夠為關鍵任務產品大規模部署我們的電池。

To meet the market and the customer demand, we have made significant progress in building out our manufacturing capacity. First, we completed our new production line in Fremont, California in December. With this investment, we have increased our manufacturing capacity by approximately 10 times and expect to achieve 2-megawatt hour of capacity exiting 2024.

為了滿足市場和客戶的需求，我們在製造能力建構方面取得了重大進展。首先，我們於 12 月在加州弗里蒙特竣工了新生產線。透過這項投資，我們的製造能力增加了約 10 倍，預計到 2024 年將實現 2 兆瓦時的產能。

In our large-scale manufacturing site in Brighton, Colorado, we received the final rezoning permit that allows us to move forward with the site. We have made a progress in recent months, ordering long-lead-time items such as electrical, mechanical, and plumbing systems to ensure that we remain on track with our timeline.

在我們位於科羅拉多州布萊頓的大型製造工廠，我們獲得了最終的重新分區許可證，使我們能夠繼續推進工廠的建設。近幾個月來，我們取得了進展，訂購了電氣、機械和管道系統等長交貨期項目，以確保我們按時完成任務。

We are also continuing the design and the pre-construction work that will allow us to be operational in 2025. In addition to our own manufacturing capacity development, we have developed two manufacturing partnerships to provide us with a large-scale manufacturing capacity for SiCore battery production rather away. Overall, we believe that 2023 was a highly successful year across our major initiatives.

我們也持續進行設計和預建工作，以便我們能夠在2025 年投入營運。能力生產相當遠。整體而言，我們認為 2023 年是我們各項主要措施非常成功的一年。

As we turn our attention to 2024, it remains critical to our growth strategy that we continue advancing our technology and expanding our production capacity. We are off to a good start. In addition to alliancing cycle and making progress on pre-construction activities at the Amprius fab, we announced that we received the AS9100:2016 certification for our Fremont production facility. The crucial certification received from Smithers Quality Assessments as we continue to supply battery to the bourgeoning electrical aviation industry, helping to advance the technology like eVTOL, HAPS, and the drones.

當我們將注意力轉向 2024 年時，繼續推進技術並擴大產能對於我們的成長策略仍然至關重要。我們有了一個好的開始。除了安普瑞斯工廠的聯盟週期和施工前活動取得進展之外，我們還宣布弗里蒙特生產工廠獲得了 AS9100:2016 認證。隨著我們繼續向新興的電動航空產業供應電池，幫助推進 eVTOL、HAPS 和無人機等技術，我們獲得了 Smithers 品質評估的重要認證。

As shown in our recent customer wins and the technology advancements, we believe that no one else can commercially offer capabilities that match those of Amprius batteries. Early this week, we were named one of the Fast Company's 2024 most innovative companies, largely due to our batteries' advanced capabilities. We were also recognized at the recent international battery seminar, winning the best-of-show new product award for our SiMaxx 400 watt-hour per kilo cell.

正如我們最近贏得的客戶和技術進步所表明的那樣，我們相信沒有其他公司能夠在商業上提供與 Amprius 電池相匹配的功能。本週早些時候，我們被《Fast Company》評為 2024 年最具創新力的公司之一，這很大程度上歸功於我們電池的先進功能。我們也在最近的國際電池研討會上獲得認可，我們的 SiMaxx 400 瓦時每公斤電池贏得了最佳展示新產品獎。

This is our second consecutive award in this category at IBS as well, as we won last year for our 450 watt-hour per kilo, 1,150 watt-hour per liter lithium-ion cell.

這也是我們在 IBS 上連續第二次獲得該類別獎項，去年我們憑藉每公斤 450 瓦時、每公升 1,150 瓦時的鋰離子電池獲獎。

Overall, these awards further underscore the demand for our innovative solutions. We are working hard to expand our production capacity to meet that demand, and we are confident in the path forward for Amprius.

總的來說，這些獎項進一步凸顯了對我們創新解決方案的需求。我們正在努力擴大產能以滿足這一需求，我們對 Amprius 的未來充滿信心。

With that, I will now turn the call over to our CFO, Sandra Wallach, to review our financial results for the quarter. Sandra?

現在，我將把電話轉給我們的財務長桑德拉·瓦拉赫 (Sandra Wallach)，以審查我們本季的財務表現。桑德拉？

Thank you, Kang. I would now like to spend a few minutes covering some key financial updates. As a reminder, our detailed financials can be found in our shareholder letter. We finished the fourth quarter with $3.9 million in revenue. A $3.1 million increase compared to $0.8 million in the same quarter last year, and up $1.1 million sequentially.

謝謝你，康。我現在想花幾分鐘介紹一些重要的財務動態。提醒一下，我們的詳細財務資訊可以在我們的股東信中找到。我們第四季的營收為 390 萬美元。與去年同期的 80 萬美元相比，增加了 310 萬美元，比上一季增加了 110 萬美元。

There were three drivers of this net increase in Q4 versus Q4 of 2022. First, our product revenue increased by $0.3 million from the prior year period to $0.9 million, largely driven by shipments to 41 customers in the quarter, a second consecutive quarterly record for Amprius.

與2022 年第四季相比，第四季的淨成長有三個驅動因素。發貨，這是連續第二個季度記錄。

Although, our product revenue remains largely driven by customer purchase orders that can arrive at uneven times throughout the year, we have shown consistent new customer growth and diversification in recent quarters. Also, of these customers, only two customers represented greater than 10% of revenue, a testament to our diverse customer set.

儘管我們的產品收入仍然主要由客戶採購訂單驅動，這些訂單在一年中到達的時間可能不均勻，但我們在最近幾個季度表現出了持續的新客戶成長和多元化。此外，在這些客戶中，只有兩位客戶佔收入的比例超過 10%，證明了我們客戶群的多元化。

Second, our development services revenue increased by $3 million, a reflection of the successful completion of the US Army Manufacturing Technology Program Delivery that Kang mentioned earlier. Development services are non-recurring in their nature due to disparate programs.

其次，我們的開發服務收入增加了300萬美元，這反映了康之前提到的美國陸軍製造技術專案交付的成功完成。由於專案不同，開發服務本質上是非經常性的。

Third, these two increases were partially offset by a $0.2 million reduction in government grant revenue period over period due to the completion of the DOE program in Q3 2023. Pivoting to our full-year results, we closed 2023 with $9.1 million in revenue. This represents a growth rate of over 100% from 2022.

第三，由於美國能源部計劃於2023 年第三季完成，政府補助收入同期減少20 萬美元，部分抵銷了這兩項成長。美元。這意味著自 2022 年起成長率將超過 100%。

Moving to our profitability metrics, our gross margin was negative 162% for the full year compared to negative 128% in the prior year period. As we've discussed in prior quarters, we see significant gross margin variation as our product and services revenue mix fluctuates. Also, we anticipated that factory start-up costs would ramp up as we start Colorado design and construction. Longer term, we are confident that our GAAP gross margin will begin to normalize as we approach our capacity expansion goals.

至於我們的獲利指標，我們全年的毛利率為負 162%，而去年同期為負 128%。正如我們在前幾季所討論的，隨著我們的產品和服務收入組合的波動，我們看到毛利率出現顯著變化。此外，我們預計，隨著我們開始科羅拉多州的設計和建設，工廠的啟動成本將會增加。從長遠來看，我們相信，隨著我們實現產能擴張目標，我們公認的會計準則毛利率將開始正常化。

Now, on to our operating expense management. Our operating expenses for the full-year 2023 were $24 million, a 94% increase from the prior year. While we continue to maintain a lean cost structure, the increase is primarily attributed to the increased G&A related to public company expenses and transaction related costs as well as targeted staffing increases in R&D and sales and marketing.

現在，談談我們的營運費用管理。 2023 年全年我們的營運費用為 2,400 萬美元，比上年增長 94%。雖然我們持續保持精簡的成本結構，但這一成長主要歸因於與上市公司費用和交易相關成本相關的一般管理費用增加，以及研發、銷售和行銷方面有針對性的人員配置增加。

Our GAAP net loss for the full-year 2023 was $36.8 million or a net loss of $0.43 per share, with 86.2 million weighted average number of shares outstanding compared to a net loss of $0.24 per share with 71.3 million weighted average number of shares outstanding. Also, as of December 31, 2023, there were 80 full-time employees, up from 76 in the third quarter, and 59 at the end of 2022, with those employees primarily based in our Fremont, California location. Our share-based compensation for the year was $3.9 million compared to $2.7 million in 2022.

我們2023 年全年的GAAP 淨虧損為3,680 萬美元，即每股淨虧損0.43 美元，加權平均已發行股票數為8,620 萬股，而每股淨虧損為0.24 美元，加權平均已發行股票數為7,130萬股。此外，截至 2023 年 12 月 31 日，我們有 80 名全職員工，高於第三季的 76 名，2022 年底為 59 名，這些員工主要居住在加州弗里蒙特。我們今年的股權激勵為 390 萬美元，而 2022 年為 270 萬美元。

Turning to the balance sheet, we exited the year with $45.8 million in cash and no debt. Key drivers of our cash activity for the year were $25.6 million used in operating cash flow, $17.6 million used for costs related to the build out of the Fremont and Brighton facilities, and $19.2 million inflow added primarily through the usage of our equity financing. Considering our business achievements and ongoing projects, we believe we are efficiently using capital to drive Amprius forward.

談到資產負債表，我們在這一年結束時擁有 4580 萬美元現金，沒有債務。我們本年度現金活動的主要驅動因素是用於營運現金流的 2,560 萬美元、用於弗里蒙特和布萊頓設施建設相關成本的 1,760 萬美元以及主要透過股權融資增加的 1,920 萬美元流入。考慮到我們的業務成就和正在進行的項目，我們相信我們正在有效地利用資本來推動安普瑞斯向前發展。

Before I turn the call back over to Kang, I would like to take a moment to discuss our outlook for 2024. We expect to spend another $2 million to $3 million completing the new cathode line and other support equipment for the megawatt hour line in Fremont this year. As detailed design work on our facility in Brighton is finalized and construction gets underway, we expect to finalize our construction cost forecast, and we'll provide updates as the year goes on.

在我將電話轉回給Kang 之前，我想花點時間討論一下我們對2024 年的展望。支援設備今年。隨著我們布萊頓工廠的詳細設計工作完成並開始施工，我們預計將最終確定我們的施工成本預測，並將隨著時間的推移提供更新。

As part of our strategic planning efforts, we filed a shelf registration on Form S-3 in October 2023, and once effective, established a new ATM facility for $100 million. We have terminated the committed equity facility concurrent with the effectiveness of the shelf registration statement.

作為我們策略規劃工作的一部分，我們於 2023 年 10 月在 S-3 表格上提交了貨架註冊，一旦生效，我們就耗資 1 億美元建立了一個新的 ATM 設施。我們已在擱置登記聲明生效的同時終止了承諾股權融資。

Subsequent to December 31, 2023, we have raised gross proceeds of about $6.5 million through the sale of approximately 2 million shares under the ATM facility as of March 18, 2024. To support our strategic plan, we are pursuing additional funding through multiple vehicles, including both equity issuances such as warrant exercises and sales under our ATM and non-dilutive sources such as grants, loans, and incentives.

截至2023 年12 月31 日，我們透過截至2024 年3 月18 日在ATM 融資下出售約200 萬股股票，籌集了約650 萬美元的總收益。方式尋求額外資金，包括股票發行（例如認股權證行使和在我們的 ATM 下進行銷售）以及非稀釋性來源（例如贈款、貸款和激勵措施）。

With that, I will conclude the financial discussion and pass the call back to Kang.

至此，我將結束財務討論並將電話轉回康。

Thanks, Sandra. I'd like to reemphasize a few key points before closing. First, Amprius' silicon anode technology continues to demonstrate the unmatched performance in our industry. Amprius' battery command a firm lead with their combination of 50 energy power charging time and temperature performance and are uniquely positioned for the electrical mobility market.

謝謝，桑德拉。在結束之前我想再次強調幾個要點。首先，Amprius 的矽陽極技術持續展現出我們產業無與倫比的性能。 Amprius 的電池憑藉 50 能量充電時間和溫度性能的結合佔據了穩固的領先地位，並且在電動車市場上擁有獨特的定位。

Second, Amprius batteries are commercially available today. We have been shipping commercial products since 2018, and our technological advancements continue to bring in significant customer demand. This quarter, we not only delivered to repeat customers and expand our technical engagements, we added 16 new customers as well. Our demand pipeline is robust, and we look forward to further building out our customer book in the coming quarters.

其次，Amprius 電池現已投入商用。自 2018 年以來，我們一直在交付商業產品，我們的技術進步不斷帶來巨大的客戶需求。本季度，我們不僅向回頭客交付產品並擴大了我們的技術合作範圍，還增加了 16 個新客戶。我們的需求管道強勁，我們期待在未來幾季進一步擴大我們的客戶群。

Third, we are scaling our manufacturing capacity to serve significant demand ahead and support a US-based supply chain. We believe that the introduction of SiCore helps us meet some of the near-term demand. Finally, we are looking forward to several exciting milestones in the year ahead.

第三，我們正在擴大製造能力，以滿足未來的龐大需求並支持美國的供應鏈。我們相信SiCore的推出有助於我們滿足一些近期需求。最後，我們期待來年實現幾個令人興奮的里程碑。

In 2024, we are looking to begin construction of our gigawatt-scale facility in Brighton, Colorado, fully optimize our SiMaxx mass production process in Fremont, and the new customers and deliver additional cells to current customers as we're increasing our SiMaxx cell production, ramp up our toll manufacturing efforts to secure hundreds of megawatts of capacity in 2024 so that we can maximize our opportunity to deliver SiCore batteries to customers, commercialize our 500 watt-hour per kilo cells that continue to bring to market new and innovative products, and continue to innovate and push the boundary of what is possible for our industry.

2024 年，我們計劃開始在科羅拉多州布萊頓建設千兆瓦級工廠，全面優化我們在弗里蒙特的SiMaxx 大規模生產流程，並在增加SiMaxx 電池產量的同時，向新客戶提供更多電池，並向現有客戶提供更多電池，加大委託製造力度，在2024 年確保數百兆瓦的產能，以便我們能夠最大限度地利用向客戶提供SiCore 電池的機會，將每公斤500 瓦時的電池商業化，繼續向市場推出新的創新產品，並繼續創新並突破我們行業的可能界限。

As we look to the rest of the year, our strategy and focus at Amprius remains unchanged. We have a tremendous opportunity ahead with a product portfolio that positions us to both growth in aviation market and expand to other industries seeking batteries with leading performance.

展望今年剩餘時間，我們在安普瑞斯的策略和重點保持不變。我們的產品組合面臨著巨大的機遇，使我們能夠在航空市場實現成長，並擴展到尋求具有領先性能的電池的其他行業。

The opportunities in front of Amprius are enormous, including the $1.25 billion conformal wearable battery market by 2030, a $33 billion aviation battery market by 2030 and the $591 billion EV battery market at 2033, for which Amprius' growth path in coming years.

安普瑞斯面臨的機會是巨大的，包括到2030年價值12.5億美元的保形可穿戴電池市場、到2030年價值330億美元的航空電池市場以及到2033年價值5910億美元的電動汽車電池市場，這是安普瑞斯未來幾年的成長路徑。

2023 was a very productive year for the company, and we believe that 2024 is off to a strong start. We look forward to continuing to deliver what we have planned and promised in the year ahead. Thank you for your continued support of Amprius Technologies.

2023 年對公司來說是非常有成效的一年，我們相信 2024 年將會有一個好的開始。我們期待在來年繼續實現我們的計劃和承諾。感謝您對安普瑞斯科技的持續支持。

With that, I will turn it back to the operator for Q&A.

這樣，我會將其轉回給接線員進行問答。

Thank you. And at this time, we'll open up the line for questions. The company requests that each participant limit their comments to one question and one follow-up. (Operator Instructions) Colin Rusch, Oppenheimer & Company.

謝謝。此時，我們將開放提問專線。該公司要求每位參與者將他們的評論限制為一個問題和一個後續行動。 （操作員說明）Colin Rusch，Oppenheimer & Company。

Hi. This is Lydia on for Colin. Could you speak to the customer direction and opportunity you're pursuing with SiCore? What is the initial feedback then so far?

你好。這是科林的莉迪亞。您能談談您在 SiCore 中追求的客戶方向和機會嗎？到目前為止，初步回饋是什麼？

We have been working on SiCore for some time. We explore this market since the middle of 2023. We received a very strong feedback from the customers. So SiCore has a form factor flexibility. Currently, we are not only supplying the pouch cell, we have been making in the last few years. This particular product enable us to supply significant energy cylindrical cell as well.

我們在 SiCore 上工作已經有一段時間了。我們從 2023 年中期開始探索這個市場。因此 SiCore 具有外形靈活性。目前，我們不僅供應軟包電池，而且在過去幾年中我們一直在生產。這種特殊的產品使我們能夠提供大量能量的圓柱形電池。

Great. And then, for my follow up, on ramp, are there any surprises you're running into on ramp up of your megawatt scale pool? And then, in Colorado, how is the permitting and procurement of equipment going? Have you figured out the best use of your balance sheet? Thank you.

偉大的。然後，對於我的後續行動，在斜坡上，您在兆瓦級池的斜坡上遇到任何意外嗎？那麼，在科羅拉多州，設備的許可和採購進度如何？您是否找到了資產負債表的最佳用途？謝謝。

Yeah. Let me answer the ramping up question. We have a full facility set up in Fremont, California that would enable us to produce approximately 2-megawatt hour product at the end of the year. For Colorado, we finished the rezoning. Rezoning was successful. Now, we are working on the air permitting and emergency response plan.

是的。讓我回答一下上升的問題。我們在加州弗里蒙特建立了完整的工廠，這將使我們能夠在年底生產約 2 兆瓦時的產品。對於科羅拉多州，我們完成了重新分區。重新分區成功。現在，我們正在製定航空許可和緊急應變計劃。

Thank you. Jed Dorsheimer, William Blair.

謝謝。傑德·多斯海默，威廉·布萊爾。

You have Mark Shooter on for Jed Dorsheimer. Thanks for your time, Kang. If -- could you give a little bit more color on the revenue breakdown between SiMaxx and SiCore?

馬克射手 (Mark Shooter) 替補傑德多斯海默 (Jed Dorsheimer)。謝謝你抽出時間，康。如果—您能否對 SiMaxx 和 SiCore 之間的收入細分提供更多資訊？

So Mark, this is Sandra. So we have not disclosed the separation of those two. It's reported under our product revenue in our filings.

馬克，這是桑德拉。所以我們還沒有透露這兩個人的分離情況。它在我們的文件中報告在我們的產品收入項下。

Okay. Directionally, do you think that for 2024, that there'll be even, one more than the other?

好的。從方向上來說，您認為到 2024 年，會出現均勻的情況嗎？

We will still be limited in 2024 by the capacity that is already spoke for here in Fremont as 2 megawatts. There is not a capacity restriction on SiCore, because it's being made by our toll manufacturing partners. So it has the potential to be much larger.

到 2024 年，我們仍將受到弗里蒙特這裡所說的 2 兆瓦裝置容量的限制。 SiCore 沒有產能限制，因為它是由我們的委託製造合作夥伴製造的。因此它有潛力變得更大。

Okay. Great. Could you speak to a little bit of the IRA subsidies that you are -- are you participating in any of that with the facility in Fremont?

好的。偉大的。您能談談您所享有的 IRA 補貼嗎？

Yes. So we have gone through our study with our tax advisers, and we are pursuing the 45x tax credit, manufacturing tax credit, which is 10% of the anode manufacturing cost and $35 per kilo watt-hour. So that will be part of our tax planning for 2023. We can take advantage of it with this year's filing and part of our financial planning going forward.

是的。因此，我們與稅務顧問進行了研究，我們正在尋求 45 倍的稅收抵免，即製造稅收抵免，即陽極製造成本的 10% 和每千瓦時 35 美元。因此，這將成為我們 2023 年稅務規劃的一部分。

Awesome. Thank you, Sandra.

驚人的。謝謝你，桑德拉。

Chris Souther, B. Riley Securities.

Chris Souther，B. Riley 證券公司。

Yeah. Hi. Thanks for taking my question. On the SiCore, how does the pricing compare to commodity batteries that are out there as well as SiMaxx? I'm just curious where that sits as far as premium pricing, would be helpful to understand.

是的。你好。感謝您提出我的問題。 SiCore 的定價與市面上的商品電池以及 SiMaxx 相比如何？我只是好奇溢價在哪裡，這將有助於理解。

Yeah. Chris, since we have a large-scale manufacturing facility available to us, so today, we certainly have a competitive production cost. In terms of ASP, the pricing, what do we charge to our customers? Because of the superb performance our battery delivers, we deliver very high energy density as well as a long cycle. So we still command the premium for those applications.

是的。克里斯，由於我們擁有大型製造設施，所以今天我們當然擁有具有競爭力的生產成本。就 ASP 而言，定價方面，我們向客戶收取的費用是多少？由於我們的電池具有卓越的性能，因此我們可以提供非常高的能量密度和長循環。因此，我們仍然對這些應用程式享有溢價。

Got it. Okay. And maybe, just a little more on some of the application focus for SiCore. Is that -- it seems like it's some pretty similar end markets that you're going after with the SiMaxx, we've been talking about for quite some time. Is the additional form factor something that increases the different applications you're going after or customers you're going after? Maybe, just a higher level. What -- if there's any differentiation as far as the end market focus that you're looking at that with that new products?

知道了。好的。也許，再多介紹一下 SiCore 的一些應用重點。是不是——看起來您正在用 SiMaxx 瞄準一些非常相似的終端市場，我們已經討論了相當長一段時間了。額外的外形尺寸是否會增加您想要的不同應用程式或您想要的客戶？也許，只是更高的層次。就您所關注的新產品的終端市場焦點而言，是否存在任何差異化？

Yeah. Our end market focus remains the same, but the SiCore product offer a flexible form factor, so certainly enable us to participate in other market segments. We have our product catalogue available. From that, you can see that we have already achieved the EV performance. That means the energy, 350 watt-hour per kilo, 1,200 cycles, and meet all other EV battery specifications. The cylindrical cell opened a new market for us, not only for aviation, also for other electric mobility segment.

是的。我們的終端市場重點保持不變，但 SiCore 產品提供了靈活的外形尺寸，因此肯定使我們能夠參與其他細分市場。我們有可用的產品目錄。由此可見，我們已經實現了電動車的性能。這意味著能量為每公斤 350 瓦時、1,200 次循環，並滿足所有其他電動車電池規格。圓柱形電池為我們開啟了一個新市場，不僅適用於航空領域，也適用於其他電動車領域。

Okay. That's all. I'll hop in the queue. Thanks.

好的。就這樣。我會插隊。謝謝。

Chip Moore, Roth MKM.

奇普摩爾，羅斯MKM。

Hey, everybody. Great to you see earlier this week. I wanted to ask another one on SiCore. I think you talked about potential for 100-plus megawatt hours of demand there in the future or are already. Maybe, just help us think about the ramp of tolling capacity and how we should think about potential revenues there?

嘿，大家。很高興你本週早些時候看到。我想問另一個關於 SiCore 的問題。我認為您談到了未來或已經存在超過 100 兆瓦時的需求潛力。也許，只是幫助我們思考一下收費能力的提升以及我們應該如何考慮那裡的潛在收入？

The manufacturing capacity, we have been developing those customers -- those partners for some time. So manufacturing capacity is available for us, is over 100 megawatts. The question is the qualification. So the customers do need to qualify this product.

在製造能力方面，我們一段時間以來一直在開發這些客戶——那些合作夥伴。因此我們可用的製造能力超過 100 兆瓦。問題是資質。因此，客戶確實需要驗證該產品的資格。

We have some purchasing orders for commercial applications already, but a larger fraction of the customers failing the evaluation phase. We believe the commercial revenue will come in later of the year. The capacity is not our issue today, but the customer has to go through the factory qualification and the product qualifications.

我們已經有一些商業應用的採購訂單，但大部分客戶未能通過評估階段。我們相信商業收入將在今年稍後出現。產能不是我們今天的問題，而是客戶要過工廠資質、產品資格。

Got it. That's very helpful, Kang. Appreciate that. And maybe, on my follow up for Fremont. I guess, anything to keep in mind as the year progresses, tie in of the cathode line or any other equipment that you need to put in? And any downtime or anything like that we should keep in mind? Thanks.

知道了。這非常有幫助，康。感謝。也許，在我對弗里蒙特的後續行動中。我想，隨著時間的推移，有什麼需要記住的，陰極線或您需要安裝的任何其他設備的連接？我們應該記住任何停機時間或類似的事情嗎？謝謝。

Yeah. Our cathode line will come in probably third quarter. That's the only missing piece of the equipment at this time. The reason is we have -- for -- our cathode has very specific coding specification. So the suppliers want to make sure they can satisfy our specification.

是的。我們的陰極生產線可能會在第三季推出。這是目前唯一缺少的設備。原因是我們的陰極有非常具體的編碼規範。因此供應商希望確保他們能夠滿足我們的規格。

Got it. Okay. Congrats on all the progress this year. Thanks.

知道了。好的。祝賀今年取得的所有進展。謝謝。

Jeff Grampp, Alliance Global Partners.

傑夫·格蘭普，聯盟全球合作夥伴。

Good afternoon. A question for you guys on the 500-watt-hour product that's going to be commercially available this year. Just curious to dig in on the timing a little bit more. Is that going to that back half of '24, in line with that cathode line? And just big picture, the pipeline that you guys are seeing in terms of demand there?

午安.請教大家一個關於今年即將上市的 500 瓦時產品的問題。只是好奇想進一步了解時間。這是24年的後半段，與陰極線一致嗎？就大局而言，你們看到那裡的需求方面的管道？

Yes. The cathode line will not affect the shipment of this product. We are planning to have this product shipped to customers this year.

是的。陰極線不會影響該產品的出貨。我們計劃今年將產品運送給客戶。

Okay. Thank you. And for my follow up, on the R&D side of things, curious on main initiatives or goals maybe for 2024, if you had to maybe bucket those in terms of key objectives, whether those relate to things like density, cycle life, different form factors or just any other big picture objectives you guys are thinking about as it relates to R&D in '24? Thanks.

好的。謝謝。對於我的後續行動，在研發方面，我對 2024 年的主要舉措或目標感到好奇，如果您必須根據關鍵目標來考慮這些目標，這些目標是否與密度、循環壽命、不同形狀因素等相關或你們正在考慮的任何其他與24 年研發相關的總體目標？謝謝。

Yeah. We have a very ambitious goal for '24. And you will see the energy improvement in energy density and the power, particularly the balance of energy density and the power. We are working on additional safety features for our battery. So 2024, you will see some breakthrough performance delivered from Amprius.

是的。我們為 24 年制定了一個非常雄心勃勃的目標。你會看到能量密度和功率的改善，特別是能量密度和功率的平衡。我們正在為我們的電池開發額外的安全功能。因此，到 2024 年，您將看到 Amprius 帶來一些突破性的性能。

All right. We'll stay tuned. Thanks for the time.

好的。我們將繼續關注。謝謝你的時間。

(Operator Instructions) Donovan Schafer, Northland Capital Markets.

（操作員說明）Donovan Schafer，Northland Capital Markets。

Hey, guys. Thanks for taking the questions. So just really quick for the first one. Sorry if I missed this, and I'm guessing with the cathode line not coming on until Q3, I just want to clarify. So is it correct to say that the run rate for the megawatt hour capacity in Fremont right now is, from that incremental equipment is essentially zero? It's still just the 250-kilowatt hours of capacity at the moment? Or are you actually able to get some incremental capacity out of whatever has been put in place already?

大家好。感謝您提出問題。所以第一個就非常快了。抱歉，如果我錯過了這一點，我猜陰極線要到第三季才會出現，我只是想澄清一下。那麼，從增量設備來看，目前弗里蒙特兆瓦時容量的運作率基本上為零，這樣說是否正確？目前還只是250千瓦時的容量？或者您實際上能夠從已經到位的任何內容中獲得一些增量容量嗎？

Well, the line start running, already producing anode. As I mentioned, we have been sourcing cathode from our manufacturing partners for years. So meeting this cathode line for next quarter is nothing to affect our output. So today, we already started producing the battery and anode but the full capacity will be reached sometime in Q4.

好吧，生產線開始運行，已經生產出陽極。正如我所提到的，多年來我們一直從製造合作夥伴那裡採購陰極。因此，滿足下個季度的陰極線不會影響我們的產量。所以今天，我們已經開始生產電池和陽極，但將在第四季度的某個時候達到滿載。

And what would you say is kind of the run rate capacity right now? Is it 0.5-megawatt hour, 1-megawatt hour?

您認為現在的運行率容量是多少？是0.5兆瓦時還是1兆瓦時？

Not there yet. I think we -- remember, we just set up this line in December. Yes. But this line certainly helps us to meet our revenue plan.

還沒到那兒。我想我們——記住，我們在 12 月才設立了這條生產線。是的。但這條線確實有助於我們實現我們的收入計劃。

Okay. Okay. And then, for 2024, I know you don't give a revenue guidance or anything like that, but just in a general sense or at a high level with the line coming on and the capacity increasing, should we at least expect to see a revenue increase in '24 versus '23, and maybe even something like a run rate based on the Q4 numbers?

好的。好的。然後，對於 2024 年，我知道你們不會給出收入指導或類似的東西，但只是在一般意義上或在高水平上，隨著線路的開通和產能的增加，我們至少應該期望看到一個' 24 與'23 的營收成長，甚至可能是基於第四季資料的運行率？

So that's a great question. So we absolutely expect to see our revenue continue to ramp up through 2024 over 2023. As Kang mentioned, we've got two drivers of that. One is the capacity for Fremont, that will be coming online and starting to contribute to revenue soon and getting to what we think is capacity exiting 2024 in Q4. We also have the SiCore product, which is available today, and we've been sampling that under a market exploration. That's, again, not capacity constrained, but it will continue to increase as customers get through their qualification and testing.

這是一個很好的問題。因此，我們絕對希望看到我們的收入在 2024 年之前比 2023 年繼續成長。一是弗里蒙特的產能，該產能將很快上線並開始貢獻收入，並達到我們認為 2024 年第四季退出的產能。我們還有 SiCore 產品，現已上市，我們一直在市場探索中對其進行採樣。同樣，這並不是容量限制，但隨著客戶通過資格認證和測試，容量將繼續增加。

Kang, did you have anything to add?

康，你還有什麼要補充的嗎？

Yeah. 2024, certainly is going to be an exciting year for us. We have two product families. One of the product family, we actually have a significant production capacity behind us.

是的。 2024 年對我們來說無疑將是令人興奮的一年。我們有兩個產品系列。作為產品系列之一，我們實際上擁有強大的生產能力。

Okay. And then, just one last question. If I can ask about --- yeah, you mentioned long lead time items for the Colorado facility. And so, I know there will be a full cost estimate that comes out later and that will be down the line. But can you give us any -- just a broad sense of what kind of investments or how much funds are needed to do that type of near-term procurements for long lead time items or other things that can't wait to get a full budget put together just in the next, I don't know, whatever this year or something like that or first half of the year, just what expenses are involved in that, just the rough terms?

好的。然後，還有最後一個問題。如果我可以問一下——是的，您提到了科羅拉多工廠的長交貨期項目。因此，我知道稍後將會發布完整的成本估算。但是，您能給我們任何資訊嗎？物品明年加起來，我不知道，今年或類似的或上半年，這裡面牽扯到什麼費用，只是大概的條件？

So the procurement of long lead time items around mechanical and electrical and plumbing work for things like the dehumidifier, the switch gear, and the transformers, those, purchase orders and down payments were placed in Q3 with some additional payments in Q4. So that's already been taken care of. Those are the long pole in the tent. And we're focused on permitting and finalizing the design in order to be able to share a high confidence construction and build-out budget.

因此，圍繞機械、電氣和管道工程的長交貨期項目的採購，如除濕機、開關設備和變壓器等，採購訂單和預付款被安排在第三季度，並在第四季度支付了一些額外費用。所以這已經被處理好了。這些是帳篷裡的長桿。我們專注於批准和最終確定設計，以便能夠分享高度可信賴的施工和擴建預算。

Okay. Okay. Fantastic. Thanks, guys. I'll take rest of my questions offline.

好的。好的。極好的。多謝你們。剩下的問題我會離線回答。

Amit Dayal, H.C. Wainright.

阿米特·達亞爾 (Amit Dayal)，H.C.溫賴特。

Thank you. Good afternoon, everyone. Sandra, in terms of costs in 2024, should we expect some improvements in the gross margin side, given volumes could be a little bit higher for you? And then, on the operating costs, also, how should we expect costs in 2024 relative to 2023?

謝謝。大家下午好。 Sandra，就 2024 年的成本而言，考慮到您的銷量可能會更高一些，我們是否應該期望毛利率方面有所改善？然後，在營運成本方面，相對於 2023 年，我們應該如何預期 2024 年的成本？

Great question. So we will get economies of scale on Fremont. You're absolutely right, but we'll also start -- continue to incur cost in Colorado without the benefit of revenue in 2024. I -- so there's design cost and preconstruction work that is ongoing. So I think the margins are still going to be under some pressure in 2024.

很好的問題。因此，我們將在弗里蒙特獲得規模經濟。你說得完全正確，但我們也會開始——繼續在科羅拉多州產生成本，而不會在 2024 年獲得收入收益。因此，我認為 2024 年利潤率仍將面臨一些壓力。

And again, we're not expecting to have a significant change in operating expense. We had $24 million in full year 2023. We continue to look surgically at where we need to add resources, but I wouldn't expect to see something significantly different.

再說一遍，我們預計營運費用不會發生重大變化。 2023 年全年我們的資金為 2400 萬美元。

Thank you for that. And then, for 2024, do you have a sense of what your military versus commercial revenues mix could be?

謝謝你。然後，到 2024 年，您是否了解您的軍事收入與商業收入的組合可能是什麼？

So that's hard for us to tell because we sell through OEMs. We're not selling directly, unless we're doing a development program. So that's hard for us to estimate. What we do know is that we continue to build our relationships with folks like AeroVironment, Teledyne Clear and Alto Airbus as well as BAE systems. So the development program that we just wrapped up, the $3 million for the US Army, that was the largest one that we had in the backlog.

所以這對我們來說很難說，因為我們透過 OEM 進行銷售。我們不直接銷售，除非我們正在進行開發計劃。所以我們很難估計。我們所知道的是，我們將繼續與 AeroVironment、Teledyne Clear 和 Alto Airbus 以及 BAE Systems 等公司建立關係。因此，我們剛剛完成的開發計劃，即為美國陸軍提供的 300 萬美元，是我們積壓中最大的一項。

Okay. Understood. Yeah. That's all I have for now guys. I'll take my other questions offline. Thank you.

好的。明白了。是的。這就是我現在所擁有的一切。其他問題我會在線下提出。謝謝。

Thank you. At this time, this concludes our question-and-answer session. If you have any additional questions, you may contact Amprius' Investor Relations team at ir@amprius.com. I'd now like to turn the call back over to Dr. Sun for his closing remarks.

謝謝。至此，我們的問答環節就結束了。如果您有任何其他問題，可以透過 ir@amprius.com 聯繫 Amprius 的投資者關係團隊。我現在想把電話轉回給孫博士做總結發言。

Thanks again, everyone, for joining us today. As a reminder, you may learn more about our company from the additional updates and learn about the upcoming events and presentations from the Investor Relations section of our website. We hope to see you at our upcoming investor conferences, and we'll continue to update you on the exciting progress we are making in Colorado. Finally, I'd like to thank our employees, partners and shareholders for their continued support, operator.

再次感謝大家今天加入我們。提醒一下，您可以從其他更新中了解更多關於我們公司的信息，並從我們網站的投資者關係部分了解即將舉行的活動和演示。我們希望在即將舉行的投資者會議上見到您，我們將繼續向您通報我們在科羅拉多州取得的令人興奮的進展。最後，我要感謝我們的員工、夥伴和股東一直以來的支持，經營者。

Thank you for joining us today for Amprius Technologies fourth-quarter and full-year 2023 earnings conference call. You may now disconnect.

感謝您今天參加我們的 Amprius Technologies 第四季和 2023 年全年財報電話會議。您現在可以斷開連線。