Amprius Technologies shares rose as much as 11% on Monday after the U.S. Department of War awarded the company a grant worth up to $75 million. The funding, provided through the Industrial Base Analysis and Sustainment program, will help retrofit an existing U.S. electric-vehicle battery production line operated by a prominent South Korean manufacturer. The upgraded facility is targeted for completion in early 2028 and is designed to produce about 12 million high-energy-density cells annually for Group 1, 2 and 3 unmanned aerial systems. The project is expected to cost roughly $100 million, with Amprius and its South Korean partner providing in-kind contributions beyond the grant. The cells are intended to meet National Defense Authorization Act sourcing requirements. The award is structured as the fixed-price, milestone-driven Project acCELLerate Other Transaction Agreement, which includes about $22 million committed from fiscal 2025 appropriations for the period from September 2026 through September 2028. Amprius reported second-quarter adjusted losses of 2 cents per share and revenue of $34.03 million, while forecasting fiscal 2026 revenue above $140 million. Analysts maintain a Buy consensus with a mean price target of $31.50.