Amprius Appoints Transportation Industry Veteran Tony Satterthwaite to Board of Directors
Mr. Satterthwaite Brings Over 30 Years of Global Power Generation Experience to Amprius Technologies
Amprius Technologies, Inc. ("Amprius" or the "Company") (NYSE:AMPX), a leader in next-generation lithium-ion batteries with its Silicon Anode Platform, has appointed Livingston "Tony" Satterthwaite as an independent director on its Board of Directors (the "Board"), effective August 13, 2024. Mr. Satterthwaite will also be joining the Board's Compensation Committee.
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Amprius Appoints Transportation Industry Veteran Tony Satterthwaite to Board of Directors (Photo: Business Wire)
Tony Satterthwaite is an accomplished industry veteran with over 30 years of experience in the transportation and power generation industries. With his extensive background, Mr. Satterthwaite is positioned to provide valuable input on the Company's product development and customer engagement strategies across the transportation sector.
"On behalf of the leadership team at Amprius, it is my pleasure to welcome Tony Satterthwaite to our Board of Directors," said Don Dixon, Chairman of the Board. "Tony brings a wealth of experience in building brands and addressing customer needs across the power generation, EV, and broader transportation markets. We are fortunate to add someone with such deep expertise to our Board and look forward to benefiting from Tony's leadership and vision as Amprius continues its journey to revolutionize the electric mobility industry."
"As the electric mobility sector continues to evolve, developing strategic relationships and a differentiated customer approach is becoming increasingly important," said Tony Satterthwaite. "I'm thrilled to join Amprius' Board of Directors and am excited about the vast potential of our cutting-edge battery technology. Leveraging my knowledge and experience, I look forward to collaborating with the leadership team to advance strategies that better serve customers and accelerate the Company's growth trajectory."
In September 2023, Mr. Satterthwaite was elected as one of the first members of Amprius' Advisory Council, which provides the Company with key, multi-industry expertise including advising senior management through the Company's next growth phase. Additionally, he is currently a Director of IDEX Corporation (NYSE:IEX), The Chemours Company (NYSE:CC), the National Association of Manufacturers, and the Cummins Foundation. He is currently a Senior Vice President at Cummins, Inc., a global power solutions provider, where he is responsible for solving large enterprise challenges and aligning business units across IT and digital products and services.
Separately, Mary Gustanski, who has served on the Amprius Board since June 2023, has stepped down from her position, effective August 12, 2024. Amprius thanks Ms. Gustanski for her contributions to the organization during her tenure. With these changes, the Amprius board will remain comprised of seven directors, six of whom will be independent.
For additional details, please reference the Form 8-K filed with the U.S. Securities and Exchange Commission on August 14, 2024, which can also be found in the Investor Relations section of the Company's website.
About Amprius Technologies, Inc.
Amprius Technologies, Inc. is a leading manufacturer of high-energy and high-power lithium-ion batteries, producing the industry's highest-known energy density cells. The company's commercially available SiMaxx™ batteries deliver up to 450 Wh/kg and 1,150 Wh/L, with third-party validation of 500Wh/kg and 1,300 Wh/L. Amprius expanded its product portfolio to include the SiCore™ platform in 2024, significantly enhancing its ability to serve additional customer applications. The company's corporate headquarters is in Fremont, California, where it maintains an R&D lab and a MWh scale manufacturing facility for the fabrication of silicon anodes and cells. To serve customer demand, Amprius entered into several agreements to secure over 500MWh of contract manufacturing available today and entered into a lease agreement for a gigawatt-hour-scale facility in Brighton, Colorado. For additional information, please visit amprius.com. Also, see the company's LinkedIn and Twitter pages.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the potential application and addressable market of Amprius' batteries, and Amprius' ability to revolutionize the electric mobility industry, better serve customers and accelerate its growth trajectory. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Amprius' management and are not predictions of actual performance. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. These forward-looking statements are subject to a number of risks and uncertainties, including Amprius' liquidity position; risks related to the rollout of Amprius' business and the timing of expected business milestones; Amprius' ability to commercially produce high performing batteries; the effects of competition on Amprius' business; supply shortages in the materials necessary for the production of Amprius' products; and changes in domestic and foreign business, market, financial, political and legal conditions. For more information on these risks and uncertainties that may impact the operations and projections discussed herein can be found in the documents we filed from time to time with the Securities and Exchange Commission (the "SEC"), all of which are available on the SEC's website at www.sec.gov. There may be additional risks that Amprius does not presently know or that Amprius currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Amprius' expectations, plans or forecasts of future events and views as of the date of this press release. These forward-looking statements should not be relied upon as representing Amprius' assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Except as required by law, Amprius specifically disclaims any obligation to update any forward-looking statements.
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