Hollis to reveal battery firm AMTE Power vision
Alan Hollis, the new CEO of Scottish battery manufacturer AMTE Power, said he has completed a review of the business and will reveal his vision for the next stage of its growth in early March.
There will be keen interest in how the company plans to scale up production on the back of the collapse of Britishvolt in Blyth.
AMTE Power has declined to comment on the failure of the project or whether it has any interest in its assets which have drawn interest from Australian company Recharge Industries. It made a non-binding offer late on Tuesday.
In July 2021 AMTE Power and InfraNomics, an infrastructure developer in Australia, agreed a joint venture to build a new battery plant in Western Australia’s “lithium valley”.
Last year AMTE Power announced a number of personnel changes, including a new chief financial officer, and secured additional financing as it makes preparations for the new plant on the site of the former Michelin tyre factory in Dundee.
In a statement today, the company said its existing cell manufacturing facility in Thurso continues to provide manufacturing capacity to secure and execute on production contracts and underpins preparation to invest in the Tayside facility.
Mr Hollis said: “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.”
Mr Hollis, 58, has a 20 year public company track record of developing and executing profitable growth strategies within engineering and manufacturing businesses with turnovers ranging from £4m-£200m.
AMTE Power will publish interim results in the week beginning 6 March.
David Collard, founder of Recharge, told the Financial Times that he planned to tour Britishvolt’s Northumberland site and meet UK government officials ahead of making a formal offer.