Delivery of Ultra Prime Cells

RNS Number : 7329R

AMTE Power PLC

03 March 2023

 

3 March 2023

AMTE Power Plc

("AMTE Power" or the "Company")

Delivery of Ultra Prime Cells

 AMTE Power plc, a leading UK developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets, is pleased to announce the delivery of its first Ultra Prime cells to its customer for testing.

The cells have been delivered in accordance with the terms of the existing supply and development agreement with that customer for characterisation and certification purposes, with more cells to be shipped as part of the development programme.

AMTE Power's Ultra Prime cell is a non-rechargeable cell designed for use in some of the most difficult environments on earth, with very high energy density and high-temperature performance. This cell also has a low self-discharge, making it well suited for applications where temperature high pressure and accessibility are key considerations.

The cells were manufactured at AMTE Power's purpose-built cell manufacturing facility in Thurso, Scotland. Going forward, Thurso will continue to scale-up production of the Ultra Prime cells as well as continuing to be a centre for cell research and development.

Alan Hollis, CEO of AMTE Power, commented:

" AMTE Power is one of the only manufacturers of battery cells in the UK today and, although this delivery will have minimal impact on this year's financial performance, it is a crucial first step to have delivered Ultra Prime cells into the hands of our customer. We will continue to scale up production of the Ultra Prime cells at Thurso as we meet the customer demand for this product. We look forward to providing further updates on our progress at the interim results on the 8^th March."

AMTE Power Customer, commented:

"We are pleased to have received the cells from AMTE Power. The cell testing phase is an important milestone for our business, and we look forward to carrying out the testing and building on our existing relationship with AMTE Power."

ENDS

Enquiries

AMTE Power plc	[phone]
Alan Hollis (Chief Executive Officer) Anita Breslin (Chief Financial Officer)
WH Ireland   (NOMAD and Joint Broker)	[phone]
Chris Fielding / James Bavister (Corporate Finance)
Fraser Marshall (Corporate Broking)
Panmure Gordon (UK) Limited   (Joint Broker)	[phone]
John Prior / James Sinclair-Ford (Corporate Finance)
Hugh Rich (Corporate Broking)
Camarco   (Financial PR)	[phone] / 4981
Ginny Pulbrook / Rosie Driscoll

About AMTE Power

AMTE Power was founded in 2013 and is a leading developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets. In March 2021, the Company was admitted to trading on the AIM market of the London Stock Exchange. The Company is focused on launching a series of next generation battery cells based on new chemistries and cell structures that are designed to solve key problems in power delivery, energy performance, and safety. These new products are targeted at a range of specialist markets including the electric vehicle industry and energy storage sector.

AMTE Power's purpose-built cell manufacturing facility in Thurso, Scotland has the second largest cell manufacturing capacity in the UK and the Company also has a product development team based in Oxford. AMTE's proposed production facility in Dundee, Scotland will be capable of producing 8 million battery cells per annum enabling the Company to rapidly scale up cell production..

For further information visit the Company's website: www.amtepower.com

 

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