REACH
12 April 2022
AMTE POWER PLC
("AMTE Power" or the "Company")
AMTE Power partners with Sprint Power and Eltrium to accelerate development of battery technology and production for electric vehicles
AMTE Power Plc ("AMTE Power" or the "Company"), the developer and manufacturer of lithium-ion and sodium-ion battery cells for specialist market, announces that it has partnered with Sprint Power and Eltrium to accelerate the development of next-generation battery technologies to meet the growing and complex needs of the electric vehicle (EV) market.
The collaboration will commence in 2022 and will aid global car makers and start-ups as they ramp up development of hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs).
Next-gen battery systems will be designed and optimised for mass market EV applications as well as high-performance projects. The scope of the partnership will cover automotive, marine, aerospace, commercial and off-highway vehicles.
AMTE has extensive experience in battery cell technology and production while Sprint Power is an established global leader in realising breakthrough technical developments in power electronics, battery management systems and battery module and pack design. Eltrium provides battery module and pack manufacturing capabilities. Together, the group will provide OEM customers with an end-to-end solution for battery systems development, manufacturing and supply.
The group is well placed to help the EV industry navigate new rules of origin. Legislation coming into force in two years' time will stipulate batteries need to contain up to 50% of locally sourced materials - be that from the UK or the EU. With all three organisations based in the UK, the partners offer OEMs an immediate solution to this impending regulatory change.
Sustainability will be at the heart of the group's approach. Critical systems, components and subsystems - including all cells, modules and packs - and production processes at Eltrium will be designed for second-life battery reuse and recyclability.
Kevin Brundish, CEO at AMTE Power, commented:
"We are delighted to be joining forces with Sprint Power and Eltrium. The UK and global electric automotive market is expected to see exponential growth over the coming years. AMTE is at the heart of this revolution and is well placed to support the anticipated demand from the EV market."
Fergal Harrington-Beatty, Head of Electric Vehicles at AMTE Power commented:
"There is huge potential for growth in the EV market as the government gears up for its 2030 deadline to end the sale of petrol and diesel cars. A reliable and secure supply of battery cells that can hit the right performance for OEMs is absolutely vital to underpin that growth. With Sprint and Eltrium, we're developing the essential blend of technology, engineering expertise and manufacturing know-how to deliver for them."
Richie Frost, Founder and CEO at Sprint Power, commented:
"Our new collaboration agreement with AMTE Power and Eltrium will deliver a game-changing support network to how next-generation battery tech - from the initial planning and design stages through to start of production - is undertaken within the industry.
"By teaming up with AMTE Power and Eltrium, we have leapt forward to be right at the vanguard of battery technology development. We offer the industry complete bespoke solutions, tapping into our unmatched tech, engineering and production expertise.
"As the EV market grows and OEMs come under increasing pressure to meet new and challenging demands, including tough legislation, Sprint Power along with AMTE Power and Eltrium will be on-hand to boost programmes, enhance development and optimise battery technologies."
Enquiries:
| AMTE Power plc | Tel: +44 (0)1847 867 200 |
| Kevin Brundish (Chief Executive Officer) |
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| James Hobson (Chief Financial Officer) |
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| WH Ireland Limited (NOMAD and Joint Broker) |
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| Chris Fielding / Ben Good |
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| SI Capital Limited (Joint Broker) | Tel: +44 (0)1483 413 500 |
| Nick Emerson / Nick Briers |
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| Camarco | Tel: +44 (0)20 3757 4992 |
| Ginny Pulbrook / Tom Huddart / Rosie Driscoll |
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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 listed 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.
For further information visit: https://amtepower.com/
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