In a rapidly changing world, AMTE provides battery innovation, commercialisation and scalable supply
WH Ireland’s analyst, Matt Davies, talks to Directors Talk about Government funding for the UK battery market and AMTE Power’s future prospects
AMTE Power was co-founded in 2013 by Kevin Brundish, together with several former colleagues from QinetiQ with the objective of developing a portfolio of highly differentiated, lithium-ion and lithium-ion derivative battery cells to meet the needs of specialist customers
Such customers, which include manufacturers of high-performance vehicles and specialist equipment, are not the primary focus of the international battery cell manufacturers, thereby creating a significant and scalable opportunity for the Company
In an era of growing environmental concerns and increasing political pressure and regulation to shift away from fossil fuels, as exemplified by the UK Government’s plan for a “Green Industrial Revolution”, there has been a rapid rise in global demand for lithium-ion battery cells
The global lithium-ion cells market, in which the Company operates, is forecasted to grow in value by 15% per annum from 2020 to 2030, to approximately US$110 billion, on the back of a 22% per annum growth in volume
Accessed a strong intellectual property portfolio from technology companies QinetiQ and Faradion
Develop new battery cells meeting the needs of its customers and leveraging on the substantial early development investment by those companies
Considerable third-party support, having been working in conjunction with many industrial businesses, including nine leading UK automotive manufacturers and component suppliers
Generated income to date of approximately £2.5 million; received approximately £9.1 million of equity finance and been awarded approximately £5.8 million of public sector grant awards
One of only five UK commercial battery cell manufacturers with its purpose-built cell manufacturing facility at Thurso, Scotland, which has the second largest cell manufacturing capacity in the UK
Entered into a framework agreement governing access to the UK BIC cell manufacturing facility and, in 2022, intends to commit to build a further UK manufacturing facility with a capacity of approximately 2GWh per annum
Recruitment, motivation and retention of highly skilled, high quality personnel is fundamental to the Group’s ability to continue to meet the requirements of its clients and to its continuing success
On 31 December 2020, the Group had a total of 61 employees, covering head office, research and development, production, sales and marketing and finance and administration functions
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