Unlike most ammunition, EMP-01 does not inflict damage. Instead, upon using it, enemies lose their lock on your ship and has a chance to de-cloak a ship as well. Even though they don't do damage they are still incredibly effective when trying to run away or give a tactical advantage during a fight. A good strategy is to use one then cloak immediately, running to the nearest point and laying a slow down mine, using this strategy you can easy evade a large swarm of honest players. It also counters the venom's singularity.
The EMP burst will release an electromagnetic impulse wave to temporarily short-circuit your enemies' onboard instruments and disable their targeting devices. If you're really lucky, the burst will also uncloak them, allowing you to shoot them out of the sky like birds.