RCS - AMTE Power PLC - AMTE Power partners with Sprint Power and Eltrium

Amte PowerAnnouncement

12/04/2022 14:30

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RNS Number : 1578I  AMTE Power PLC  12 April 2022

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)
 James Hobson (Chief Financial Officer)

 WH Ireland Limited (NOMAD and Joint Broker)
 Chris Fielding / Ben Good

 SI Capital Limited (Joint Broker)              Tel: +44 (0)1483 413 500
 Nick Emerson / Nick Briers

 Camarco                                        Tel: +44 (0)20 3757 4992
 Ginny Pulbrook / Tom Huddart / 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 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/ (https://amtepower.com/)
 

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