Source - Alliance News

Amte Power PLC shares jumped on Tuesday after the specialist battery cell developer and manufacturer announced a new collaboration on hydrogen hypercars.

Amte has signed a memorandum of understanding with advanced powertrain developer Viritech Ltd, to supply its ultra high power cells to be used in Viritech’s battery packs for high-performance fuel cell electric vehicles.

Shares in Amte jumped 13% to 76.25 pence each in London on Tuesday morning.

‘An alternative to fully electric vehicles, fuel cells mitigate challenges around weight and cell charge times in high power and performance vehicles compared to battery power alone,’ the firm explained.

Amte’s differentiated UHP lithium-ion cell is designed for the high power automotive market, and the firm owns the intellectual property rights for the product. The UHP is still undergoing scale-up and testing trials at the UK Battery Industrialisation Centre.

Amte reiterated there will be an announcement in 2022 on new UK production facilities, which will allow for industrial-scale manufacturing.

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