Three potential sites
Dundee in race for AMTE’s battery gigafactory
AMTE is pioneering battery development
Dundee is one of three sites in the running for a UK battery gigafactory being planned by north of Scotland developer AMTE Power.
The Thurso-based manufacturer of lithium-ion and sodium-ion battery cells, said plans for the huge facility – initially 2GWh increasing to 10GWh – have made substantial progress.
The company is in talks with a number of local authorities and national funding sources to secure government grants and develop detailed designs for the plant which will be a key component in the switch to electric vehicles.
It expects to confirm the site of its UK based Gigafactory and government funding support in 2022, with Dundee, north east England and Wales under consideration.
It said all three of its cells in development made good progress during the year and remain on track for one to be released in each of the next three years.
Adjusted EBITDA loss for the year to the end of June came in at £3.2m (2020: (£2m)) and adjusted loss before tax of £3.1m (2020: (£2m).
Kevin Brundish, CEO, said: “This has been a successful period for the business. While the IPO was a major focus and success for the Company, we have also made excellent progress towards commercialising our portfolio of battery products.
“The Government is actively driving the UK to become a leading centre for battery production and future innovation. Based on our direct conversations with government and their public statements, we believe they continue to be fully committed and this makes for an ideal backdrop for AMTE Power to deliver on our plans.”
Kevin Brundish: ‘successful period’
On Monday the company confirmed an earlier announced plan to build a 200,000 battery cell micro production line, a forerunner to a gigafactory, in Western Australia.
It has signed a joint venture agreement with InfraNomics Technologies to operate through Bardan Cells in Kwinana.
Mr Brundish said: “Bardan is attractive as a further test platform for our technologies and will be particularly useful additional experience and proof to investors and customers of our capabilities as we pursue the development of our UK based Gigafactory.”
The company was admitted to AIM on 12 March alongside an oversubscribed placing to new and existing shareholders raising gross proceeds of £12.9 million.