Notice of Interim Results

RNS Number : 7329N

AMTE Power PLC

25 January 2023

 

25 January 2023

AMTE Power Plc

("AMTE Power" or the "Company")

Notice of Interim Results

AMTE Power plc, a leading UK developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist markets, announces that it expects to publish its results for the six months ended 31 December 2022 in the week commencing 6 March 2023.

During the first half of the current financial year, AMTE Power continued to progress towards its stated operational objectives, recruited a new Chief Executive Officer and Chief Financial Officer, and secured additional financing.

The Company's existing cell manufacturing facility in Thurso, Scotland continues to provide manufacturing capacity to secure and execute on production contracts for the Ultra Safe and Ultra Prime cells. The facility in Thurso is allowing AMTE Power to scale up the production of these cells for customers and, ultimately, underpins preparation to invest in the business' first MegaFactory.

Alan Hollis, the new CEO of AMTE Power, commented:

"The business has continued to make good progress during the six months ended 31 December 2022. AMTE Power has a differentiated product range targeting identified underserved market segments in a structurally growing sector where demand for battery cells is incredibly strong. Ultra High Power cell  manufacturing trials at the UKBIC are progressing well and the business is now planning for larger scale production runs. Our pipeline of opportunities and strong technology base combined with our clear path to scale up leave us well placed for the future.

"Since joining AMTE Power, I have substantially completed a thorough review of the business and intend to set out my vision for the next stage of our growth at the interim results."

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

Notes to Editors:

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 state-of-the-art MegaFactory in Dundee, Scotland will be capable of producing over 25,000 high added value batteries per day enabling the Company to rapidly scale up cell production.

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

 

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