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September 28, 2023

Marlborough tech firm seeks funding to avoid 105 layoffs

Photo | Ambri Ambri Liquid Metal Batteries

Marlborough battery-technology firm Ambri will lay off 105 workers, 89 residing in Massachusetts, unless it can raise sufficient funding on or before Nov. 13.

Ambri submitted a Worker  Adjustment and Retraining Notification Act (WARN) notice addressed to the Massachusetts Division of Career Services, Marlborough Mayor Arthur Vigeant, and Marlborough City Council President Michael Ossing on Sept. 15 announcing the potential layoffs. 

“As of the date of this memorandum, the company believes that it will need to undertake this reduction in force, but the company is seeking additional financing, which could potentially eliminate the need for the reduction-in force or reduce its scope,” Ambri Director of Human Resources Kerrin Corrieri wrote in the WARN notice submitted on Sept. 15.

The Boston Business Journal first reported news of the layoffs.
“As a long-term business, we are prudently adapting our approach in response to the unusually challenging investment environment for hard-tech, pre-revenue companies,” Ambri Executive Chairman Dan Leff said in a statement sent to WBJ on Thursday. “This is not a decision we take lightly, but we believe it is the right choice to put us in a strong position as the market recovers and we secure additional investment.”

In June 2022 Ambri announced that it leased a 140,000-square-foot space at a retail plaza in Milford with the intention of building a manufacturing facility.

When asked about the status of the Milford facility, Ambri wrote in a Wednesday email to WBJ: “We are considering a range of options for the future commercialisation of our technology to be able to refocus our commercial strategy in response to the needs of our investors, business, and people.”

Ambri specializes in renewable energy storage technology and produces a long-duration liquid metal battery. In August 2021, the company announced it had secured $144 million in investments to commercialize its technology and to build a new manufacturing facility.

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