AMTE Power Plc, a leading UK developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist applications in global markets, announces its results for the half year ended 31 December 2022 and the conclusion of its new CEO’s strategic review.
Alan Hollis, CEO of AMTE Power, commented:
“I am pleased to report that AMTE Power continued to make good progress in the half year ended 31 December 2022, with progress continuing in line with market expectations of loss before tax for the full financial year.
“Since my arrival at AMTE Power I have been undertaking a strategic review of the people, markets, products, operational capability, functional capability and processes with a clear focus on positioning the business for success through commercialisation of its products and scaling up of the organisation to support our ambitious plans to accelerate routes to market.
“AMTE Power has rich technical capabilities and a highly differentiated product range across multiple markets. We have identified where the business needs to be positioned as a market leading cell provider for specialist applications, with planned scale up at our existing manufacturing facility in Thurso, Scotland and the UKBIC, ahead of Gigafactory scales of production in due course in our proposed new facility.
“AMTE Power is one of the few manufacturers of battery cells in the UK today and has three products in development that are close to commercialisation with samples already in the hands of customers for testing from whom we are receiving positive feedback.
“This strong foundation underpins our growth plans and, combined with the renewed vision and the team’s energy, means we look forward with confidence and focus to the year ahead.”